Development Team Meeting Notes (96-99)

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~ a~r-' '~r/ I and it needs to be tied to a GMP. FTA will allow us to get draws against the granls, based on the budget. They understand that costs can change, based on the market. RG said t at once we get project approval, the draws come on schedule and we are not audited until afte the project is complete. Curt asked if we are looking for him to take this risk, with a not to exce d clause. Curt said that he can get a comfortable GMP by 6/4. There was discussion around how o set the GMP and the best process for Curt to use to pad the budget to allow for flexibility. It was ointed out that this also applies to the COP's or revenue bonds. ~, For the project schedule to work, the final GMP on the entire structure must be co plete by 7/15. Randy said that this may impact the completion of the development agreement. D n said that this cannot impact the development agreement. The other issue is to vacate the tenants by 4/8. Randy said that this will be tight, b t we can phase the vacation so they can begin abatement on some parts of the block. Dan report d that the only building that he is concerned about is the Lui Building and it's tenants. It may be t e last building to come down. Randy and Dan have already looked at phasing the demolition of th block. Randy said that they can begin salvage in March. The majority of the abatement will be on the Senator Building, which is already partially empty. I Curt said that the state may be looking at the Best building for the Oregon Health lan. He heard this on Wednesday, 2/19. RG asked if we had looked at the Ernst store. Randy r orted that the Best building is best suited to meet the needs of the county. '~ Action: Dan and Randy will move on the lease immediately Leonard said that his concern is that the design is getting pushed out each week that e delay. Dan said that once we get the geo-technical information, he can go ahead with the des gn. Monday's meeting with CenturyWest should tie this up. ', Curt said that what is driving this schedule is the 8/1 date for excavation. Dan want I Curt to veri fY with the city that we will be able to work around the clock to beat the September rai haul at night. Curt suggested putting this in the bid. He said that it may be a"break even" issue, ith the cost of overtime. Dan said that it may cost more, but it will keep the time line. ~, Action: Curt will check into working around the clock and hauling at night. Curt asked if there was going to be any "buy America" clause attached to the feder~~l money. RG said he hadn't heard of this. There was discussion around some of the span material coming from Mexico. Curt asked that we be sure on this so there are not problems down the road Curt asked if we are bound by the 10%. Dan said that we should get this in writing. RG said tha this would be raising a flag. Dan agreed, but that it also shows due-diligence. ~~, Action: RG will check with Ben on the "buy America" clause and with FTA on the 10%.