Spring Run has executed a contract with D. Garrett Construction of Naples, FL for renovation of the Kitchen and construction of a new Cart Barn, Pro Shop, Fitness Room, Offices, and Meeting Space for a Guaranteed Maximum Price of $2,049,564 which is a firm number that can only go down, not up. The new Kitchen should reopen Monday September 3, 2012, with an anticipated project completion date of December 15, 2012. Owner Provided and Ancillary Expenses total $963,597. $274,000 from Reserves that would have been replaced in the next couple years has been applied against it for a net of $689,597. The list of Owner Provided and Ancillary expenses include: Contingency, Architect, Design, and Engineering Fees, Temporary Operations and Relocation Costs, AV, Media, Cabling, and POS stations, Landscaping, Kitchen Equipment (some existing is being reused), Lighting Package Allowance and Furnishings, Fixtures, and Accessories
The Construction contract provides for a 4 ½% General Contractor fee. Any savings realized under the GMP are reimbursable at a rate of 80% to the Club and 20% to the Contractor.
At the fall Board Meeting, it was anticipated that the project would cost $2.5M based on estimates provided by the Architect and Contractors consulted. In the end, the cost of construction increased from original estimates approximately 5% of the project cost as the square footage and scope of the project increased, and the ancillary costs increased by about the same percentage of the total due mainly some fairly large, unforeseen expenses.
In particular, the cost to maintain golf and F&B operations throughout the summer and a busy fall was originally estimated to be around $25,000, as was the cost for cabling and Media. Those two line items contributed over $100,000 in incremental increases alone. That said, services throughout the summer and fall will continue uninterrupted for our membership.
There was a Special Board Meeting held on Thursday May 17 after the final bids came and the numbers had changed. Members were encouraged to make comments and ask questions. We had a considerable discussion on the various aspects of the plan, financing, and the specifics of the new costs. At that meeting, the Board passed a motion to allow a maximum total project price of $2,760,000. The total was and remains $2,739,000, and we anticipate seeing that number only come down going forward.