TITLE
Approval of Settlement Agreement with Biltmore Construction Co., Inc.
BACKGROUND INFORMATION
The Plantation Key School construction project experienced delays in meeting key contract deadlines which resulted in direct cost overages to the School Board in the form of additional invoices for architectural services provided by Zyscovich. As the Construction Management Agreement between Biltmore and the School Board contains provisions that may have permitted the assessment of liquidated damages for these delays, Biltmore has agreed to assume responsibility for all known cost overages to the School Board that resulted from these delays. The total amount of all invoices already paid by the School Board will be withheld from the remaining contract balance, and the attached settlement agreement acts as a release of liability for any remaining overage costs that might still be owed by the School Board for this project. In exchange, the School Board would agree to release Biltmore from claims for liquidated damages based on the project delays.
BUDGET INFORMATION
Item Budgeted? N/A
Total Cost: $N/A
Budget Coding: N/A
Requisition Attached? No
CONTRACT INFORMATION
Contract with: Biltmore Construction Co., Inc.
Contract value: N/A
Budget coding: N/A
Contract Purpose / Description: Settlement of outstanding dispute with Biltmore Construction Co., Inc. regarding delays on completion of Plantation Key School construction project
Contract Originator: Patrick Lefere, Operations
Board Meeting Date: December 17, 2019
RECOMMENDATION
Recommendation
Approval of Settlement Agreement with Biltmore Construction Co., Inc.