7d supp
Item No. 7d_supp Date of Meeting February 9, 2016 Seattle-Tacoma International Airport International Arrivals Facility (IAF) 4Q2015 Program Update Perspective of Overall IAF Project 2 2 Schedule-at-a-Glance Today Guaranteed Maximum Price (GMP) Validation GMP Development Post-GMP Period Period Period 4Q16 Commence Design, Preliminary Construction, and Long Lead Time Item Procurement Design has Begun 3 3 4Q2015 Accomplishments Completed 120 day Validation Period Established Target Budget, Target Schedule and Early Schematic Design Executed Partnering Charter between Design Builder and Port's IAF team Executed Independent Commissioning Agent Contract Selected Port representative for Dispute Resolution Board Negotiated Post-Validation Amendment Fourth Quarter Focus Confirming Project Viability and Ensuring Readiness to Proceed 4 Key Activities Planned for 1Q2016 Commence Design Prepare Enabling Works and Long-Lead Materials/Systems Procurement Packages for 2Q2016 Execution Continue Working with US Customs & Border Protection (CBP) to Develop Innovative Passenger Processing Procedures for Implementation in the IAF Initiating Second Contract Phase: GMP Development Period 5 Perspective of IAF Building 6 6 Perspective of Bridge Connecting SSAT to Concourse A and IAF 7 7 IAF Estimate-at-a-Glance $650 Millions $600 $550 $500 Estimate $608.4M Additional Authorization $450 Required $400 $308.4M $350 $300 $250 Current $200 Authorization $300M $150 $100 $50 Spent $12.5M $0 Additional Authorization Required 8 IAF Financial Metrics Overall Program Progress Actual Planned/Forecast (Millions) (Millions) Cash Flow Fourth Quarter 2015 $2.0 $6.2 Expenditures to Date $12.5 $17.9 Current Authorizations $300.0 $608.4 Current Spending is Within Authorized Amounts 9 IAF Financial Metrics Small Contractors & Suppliers (SCS) Participation Contract Requirement Participation Level to Date (Percent of Total) Program Management 16% 20% ($0.8M/$5.1M) ($3.4M/$17M) Design-Build Team 3% 12% ($0.2M/$5.9M)* (GMP yet to be Negotiated) Small Business Participation Actual to Date Target (Including Small Contractors & Suppliers) (Percent of Eligible Work) (Percent of Eligible Work) Design-Build Team 6% 17.5% ($0.2M/$3.4M)* (GMP yet to be Negotiated) * Design-Build Team included 8 registered SCS firms in Validation Phase, 4Q2015 SCS Participation Will Increase as Construction Commences 10 Future Commission Briefings & ActionsIAF Program Authorization to Amend 2016 Q1 Q2 Q3 Contract for GMP Briefing Briefing Briefing 4Q2016 4Q2016 2017 Q1 Q2 Q3 Briefing Briefing Briefing Briefing 4Q2017 Q1 Q2 Q3 2018 Briefing Briefing Briefing Briefing 4Q2018 Q1 Q2 Q3 2019 Briefing Briefing Briefing Briefing 4Q2019 Q1 Q2 Q3 2020 Briefing Briefing Briefing Briefing Commission Participation Critical to Project Success 11 Program Background Key Objectives Program Goals Why is a New IAF Needed? 12 Key Objectives Develop a facility that meets federal regulatory requirements Deliver a facility that improves the level of service and enhances the passenger experience Create a signature identity that is both memorable and welcoming to our international arriving passengers Increase competitiveness with peer Airports by shortening processing time through our facility Optimize Airline Operations & Improve Passenger Experience 13 Program Goals Replace the Airport's existing over-burdened Federal Inspection Services (FIS) facility with a modern and efficient passenger processing facility Reduce passenger wait and connect times, streamline baggage connections and ensure international arrivals processing capacity keeps pace with growing regional needs Critical to achieving the Port Commission's Century Agenda objective of making the Airport the West Coast's "Gateway of Choice" for international travel Keeping Up with Regional Growth 14 14
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