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5. OLD BUSINESS (Continued) : 91 a (Continued) The Chair: It looks like a complete report. Mr. Brownell: I think there are sixty -five contracts l.is.ted and twenty -eight change orders. The Chair: I think the members of the Commission probably want to take this with them and digest this, until the next meeting. Mr. Wiggins: Yes, definitely. The Chair: We thank Mr. Schaller for this very complete report and we'll table this for the agenda of a future meeting. BUSINESS Request for Commission authorization to award the following con- tract, subject to legal counsel review and approval: SWCD2 /PR /CS -1/05 419 S. Olive St. $4,100.00 Slatile Roofing & Sheet Metal Co. Mr. Brownell: This was put in by itself because it was the only one under $5,000.00. There were three people who took out documents, but only one contractor bid. The Chair.asked if there were any questions or comments. Mr. Wiggins: There seems to be quite a bit of discrepancy be- tween labor and materials estimate, again, and the actual amount bid. I wonder if you would care to comment (Mr. Crighton)? Mr. Crighton: At our last Advisory Board meeting for the Southeast Project, we discussed at length the problem of our cost estimates. After discussing this with an architect who serves on this committee, a number of contractors who are in the housing rehabilitation business were also consulted. We have arrived at the conclusion that our cost estimate is not actually a cost estimate, it is actually a labor and materials estimate, i.e., the change on the bid tabulation sheet that you have in front of you. All we are estimating is the approximate amount of materials and labor that go into that house; we are not estimating any overhead, profit, ad- ministrative costs, bonding costs or insurance costs. Because of the variation in size of contractors who deal with us, we -4- APPROVAL OF CONTRACT SWCD2 /PR/ CS -1/05