10b. Presentation
Concourse A Building Expansion Lounges
Item No. 10b_supp Meeting Date: June 27, 2023 Budget Increase Request Concourse A Building Expansion for Lounges (C801205) June 27, 2023 Background The airport existing lounge space is insufficient to meet passenger demand. This project allows Delta Air Lines to design and construct a building addition to increase the supply of terminal lounge space, using a Tenant Reimbursement Agreement (TRA). Design was completed in 2022 and construction is currently underway for this 52,000 square-foot building expansion near the end of Concourse A. Incorporates a new passenger lounge for Delta and provide a new buildout space for the Port’s shared-use lounge (Club at SEA). 2 Justification Delta has notified the Port of additional project increases and escalations during their efforts to execute an agreement for the Final Guaranteed Maximum Price (FGMP) with their Contractor. Today’s request is to increase the budget to allow for added costs the project will incur due to: – Delayed construction start and subsequent increases to the overall project duration. – Escalation in construction costs for materials and labor and the volatility in the construction market and global supply chains. 3 Concourse A Building Expansion for Lounges 4 Concourse A Building Expansion for Lounges 5 Overview of Cost Increases December 2021 May 2022 June 2023 Total Project Cost $78.5M Total Project Cost $105M Total Project Cost $126.5M TRA Value $66M TRA Value $89.9M TRA Value $111.5M Project Status Project Status Project Status 60% Design 100% Permit Submittal Construction Document Set Cost Drivers Cost Drivers Cost Drivers Initial estimate Design progression (60% - permit) Delayed construction start No FGMP Escalation construction cost/materials No FGMP 6 Request 1) Increase the authorized total project budget by $21,507,000, and 2) Increase the TRA budget from $89,960,000 to $111,508,000. This results in a total estimated project cost of $126,507,000. 7 Questions? 8
Limitations of Translatable Documents
PDF files are created with text and images are placed at an exact position on a page of a fixed size.
Web pages are fluid in nature, and the exact positioning of PDF text creates presentation problems.
PDFs that are full page graphics, or scanned pages are generally unable to be made accessible, In these cases, viewing whatever plain text could be extracted is the only alternative.