Committee approves BRR 11 and BRR 12 to realign contract lines and move builder's-risk plug
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Summary
Committee approved two housekeeping budget revisions: BRR 11 re-aligns Perkins Eastman contract line items with no net change in funding; BRR 12 moves a $2,000,000 builder's-risk placeholder into the owner's insurance line after the city procured the policy for about $1,600,000, creating roughly a $100,000 savings.
The committee approved two budget revision requests intended to reconcile contract line items and account for insurance purchased outside the construction contract.
Brian explained that BRR 11 "is to clean up Perkins Eastman contract" line-item allowances as the project transitions from design to full bidding and construction; he emphasized BRR 11 does not bring in new money, tap contingency, or remove funds from the approved contract.
BRR 12 addresses builder's-risk insurance. Brian said the city procured the builders-risk policy outside the construction contract and that a $2,000,000 plug in the construction budget must be moved into the owner's insurance line within the Consigli budget. He noted the premium for the policy "ended up about 1,600,000.0," which he characterized as roughly a $100,000 savings compared with the $2,000,000 plug that had been shown in the contract line.
Stacy Rizzo moved to approve BRR 11 and BRR 12; Susan Gravalese seconded the motion. The committee conducted a roll-call vote and all members present voted yes; the motion passed.
Staff said they will follow up with the MSBA to confirm reimbursement eligibility and will use a form to document the reimbursement claim once the change is executed.