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Contract cost increase approval with Henricksen in an amount not to exceed $55,000 for the fifth-floor office furniture
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ACTION REQUESTED: Approval
purpose
PURPOSE & ACTION: CMAP completed the renovation of the fourth floor of the OPO in the summer of 2020 and elected to delay completion of a small portion of additional CMAP space on the fifth floor due to uncertainties in the marketplace at that time. There is a landlord provided allowance for tenant improvements of $427,799.01 which expires in May 2023; and therefore, CMAP has been proceeding with the improvements consistent with the contract.
Office furniture is not an eligible expense for the tenant improvement allowance. CMAP has an available balance of $42,807.57 to spend on office furniture on the fifth floor but due to an increase in inflation and low inventory, the cost of furniture has increased. It is requested that an increase of $55,000 with the vendor Henricksen be approved to complete the planned furniture order and meet the landlord’s deadline of May 2023.
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