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11/7/2006 8:17:16 PM
 
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Section 5: OPA Board Subject: OC Today Story Msg# 386150
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| Maybe Marty thought smarter heads would prevail prior to signing the contract. I do not agree about the builder reselling the building. Really nothing for them to loose. I also wonder if we told them to order the materials or they did it mon their own to avoid a price increase? In government contracting the builder could only claim profit on work completed and work in process, not anticipatory profits. Anyway, I think the balloon is going to pop soon one way or another. | ||||||
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For reference, the above message is a reply to a message where: We have already spent about $200,000. Assume the builder would claim a lost profit on the project of 15%. That's another $450,000. So we are probably on the hook for about $650,000 minimum right now -- plus any materials already ordered, although that could be minimal at this point. To think the builder would "resell" the structure is a giant streetch -- at best. If the project moves into the actual construction phase and assuming at some point Marty's attempt to stop the project is successful, it would be reasonable to predict a potential loss of $1 million to $2 million. The project is over the anticipated cost by $1.5 million. So, if Marty is successful OPA might spend one to two million and end up with nothing. The time for Marty and his group to have taken action should have been BEFORE any contract was signed. He had plenty of time. |
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