Cagni Park Construction Update

On October 14, 2022, the proposed CM@Risk, Thornton Construction Company, provided the City with their initial guaranteed maximum price for the Cagni Park North Project. The proposal came in at just over $20.3 million for hard (base) costs and construction manager (direct) costs for Phase 1 of the project. This is a net increase of $5.2 million on the number provided by Thornton from the 60% construction documents in May 2022. According to Thornton, the main items that attributed to the escalation in price were: • Sitework – $1,809,000 • Pool Construction – $890,000 • Synthetic Field – $739,000 • Dewatering – $500,000 • Electrical – $376,000 Since the pandemic, the construction industry has seen an unprecedented rise in material and labor costs. Unfortunately, this project is being directly impacted by this cost escalation. At this point, the city manager recommends a reconsideration of some of the proposed amenities and/or examine the possibility of utilizing another method of construction for the project. Both options could help get the project back in line with the overall budget. With the additional work that needs to be done, staff will not be able to bring this project to the City Council for award in the immediate future. We will also need to postpone the groundbreaking for the project to a date and time after the project is awarded.