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Opening Request for Qualifications - SB Pinhook WTP Guaranteed Savings Contract - Reynolds Construction
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Opening Request for Qualifications - SB Pinhook WTP Guaranteed Savings Contract - Reynolds Construction
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10/14/2020 1:08:04 PM
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10/14/2020 1:07:51 PM
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Board of Public Works
Document Type
Contracts
Document Date
10/13/2020
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FINANCIAL APPROACH <br />CITY OF SOUTH BEND: PINHOOK WTP IMPROVEMENTS PROJECT GUARANTEED SAVINGS CONTRACT <br />The customary GSC Open-Book Pricing Model consists of the three following components: <br />1) Cost of construction (open book pricing and cost tracking) <br />2) Provider/Contractor fixed fee (includes overhead and profit) <br />3) Project contingency <br />Below we are providing a graphical representation of how the City’s GMP would be calculated based this typical <br />GSC GMP model. It assumes a construction cost of $7M, a fixed fee of $560,000, and a project contingency of <br />$350,000 (all speculative assumptions for this example). <br /> <br />OPEN BOOK PRICING STRUCTURE <br />D.1 Explain the Provider’s approach to open book pricing allowing the City to view the pricing structure <br />(mark-up covering overhead and profit) of the Qualified Provider and subcontractors. <br />In alignment with our commitment to 100% transparency, the table below shows which costs are considered project <br />costs and which ones are included in our fixed fee. Our subcontractors will use this same approach. Once we develop <br />the estimated Project Cost and select a suitable contingency, we will recommend a fixed fee for the project (typically 8 <br />to 10%) which compensates us for the items in the “FIXED FEE COST” column. <br /> <br />COST CATEGORY MATRIX <br /> <br />CATEGORYFIXED FEE COST PROJECT COST <br />Home office overhead X <br /> <br />Payroll administration X <br /> <br />Accounts payable processingX <br /> <br />Legal support X <br /> <br />Executive Safety X <br />Page | 45 <br /> <br />
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