Council Agenda - City of Burbank

Tuesday, December 5, 2006

Agenda Item - 2

                                    CITY OF BURBANK
                          PUBLIC WORKS DEPARTMENT
                                       MEMORANDUM

DATE:	December 5, 2006
TO:	Mary J. Alvord, City Manager/Executive Director
FROM:	Bonnie Teaford, Public Works Director
SUBJECT:	KEYSER MARSTON ASSOCIATES� REVIEW OF THE GUARANTEED MAXIMUM PRICE FOR THE COMMUNITY SERVICES BUILDING

PURPOSE

To present Council with a summary of a third-party review of the Guaranteed Maximum Price (GMP) for the construction of the proposed Community Services Building (CSB).

BACKGROUND

At the November 22, 2006 Council meeting, staff was directed to engage the real-estate consulting firm, Keyser Marston Associates, to conduct a third-party review of the GMP for the proposed CSB. The review, which will be conducted the week of November 27, 2006, will focus on the reasonableness of the cost that resulted from the GMP development process. Keyser Marston will attempt to compare the CSB�s costs to other similar projects in Southern California, and will provide the City with a letter summarizing its opinion.

ANALYSIS

Public Works will present Kaiser Marston�s findings at the December 5, 2006 Council Meeting.

RECOMMENDATION

Note and file.