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The completion of the design development drawing phase has enabled an independent cost consultant, Architectural Cost Consultants (ACC) of Portland, to complete a new cost estimate for the project and to assign the costs of specific elements of the project to the respective parties, Marion County and Transit. ACC's estimates show that the project, and the individual parties, are within the budgets previously approved by the respective Boards, with a 12.5% contingency fund still in place. These estimates aze based on a 258 space underground parking design and a streetscape design which is within the City's prescribed budgetary limits and is revenue/expense neutral within the project budget. When the construction documents are completed, ACC will do one final cost estimation review. That product will be reported to both Boards and bidding will be delayed if any significant new 'information demonstrates that action. Authorization to Qroceed with Construction Drawings. Specifications. and Bids If the design development plans, cost estimates, and resulting budgets are acceptable to the Board, and the Board desires to proceed with the project as planned, the staff needs specific authorization to proceed with the development of the construction drawings and specifications and to put those plans out to bid. The Board will again consider the fmal construction budget upon receipt of the bids and will then be asked for authority to proceed with a bid award and construction contract. Only then, can the construction of Courthouse Square actually commence. Recommendation The staff recommends the following: That the Board approve the current design development plans for Courthouse Square; and That the Board authorize staff to proceed with construction drawings and specifications and to bid the project. Attachment: ACC construction estimate summary. CAC 8/24/98 minutes