PowerPoint Presentation (added 06/21/2024)*

Update #24 Downtown Campus 
Reinvestment Project
City Council Workshop
June 25, 2024
Presenter: Kevin Phelps

2
Budget Update 
Project
Elements
Original Estimate
Current Estimate
Construction
Budget
$70.2 M
$75.8 M
Soft Costs
Budget
$15.4 M
$15.9 M
Murphy Park
$4.3 M
$4.3 M 
Total
$89.9 M
$96 M 
$6.1M Gap

3
Project Considerations
• Factors causing budget increase
• Budget Mitigation Strategies
• Risk Factors

4
Construction Inflation
National Market Conditions 
Actual Project Inflation by Skilled Trades (Top 5)

5
Scope Refinements
• APS Electric Service Modifications
$ 400K
• Council Chambers Elevator
$ 257K
• Council Chambers L1 Restrooms
$ 245K
• Pedestrian Hardscape
$ 452K
• Amphitheater AV/Lighting/Sound
$ 646K
• Signage
$ 400K
• Sound Attenuation
$ 118K
• Miscellaneous
$  482K
Total
$ 3.0M

6
Soft Cost Changes   
ITEMS
BUDGET
DELTA
Professional Services
$ 6,824,876
$500,000
Furniture, Fixtures & Equipment
$ 2,800,000
Lightning Protection
$      25,000
$25,000
AV/IT Equip & Install
$ 1,100,000
$100,000
IT/Telecom/Structured Cabling
$    400,000
$85,000
Security (Cameras & Access Control) 
$    350,000
$150,000
Engineering Charge Back 
$    100,000
($400,000)
Additional 1% for Arts
$    790,000
$40,000
Owner’s Project Contingency
$ 3,500,000
Total
$15,889,876
$500,000

7
Summary of Cost Drivers
Inflation/Quantity :  
$2.6M
Refinements: 
$3.0M
Soft Costs:
$0.5M
Total                              $6.1M

8
Budget Mitigation Strategies*
Project Budget Gap
$6.1M
Value Engineering
$1M - $2M
Fund Balance Reserve up to       $5.1M
*Assumes preserving the Project Contingency of $7.1M

9
Budget Exposure Going Forward
•
Budgeted Soft Costs Allowances: AV / IT / Low Voltage / Security 
costs: Total $1.85M (Risk up to 20%)
•
Budgeted GMP Allowances: HVAC Sound Attenuation, Window 
Coverings, Signage, Amphitheater AV & Lighting: Total $1.3M (Risk 
up to 5%)
•
Budgeted Cost Changes that could result from Bid set to Permit: 
Total $854K (Risk less than 5%)
•
Schedule delays

10
Schedule
GMP 2 :   12/14/2023
GMP 3:    6/25/2024
GMP 4:
TBD (Murphy Park)
New Construction Phase: July 2024
Substantial Completion:  February 2026

11
Request of Council
$67,259,330
*Entirety of project, excluding Murphy Park
Approval of GMP #3 
Construction Package

12
Fly-Through

13

14