Union Court SMT # 79596 Construction Presentation PDF

Session 4: SMT & Box Use and Process During SECTION TITLE Construction SECTION SUBTITLE  PROJECT TIMELINE (Dates listed are for training purposes only) 2  Union Court Apartments SMT # 79596 New Construction Four (4) re...

Session 4: SMT & Box Use and Process During SECTION TITLE Construction SECTION SUBTITLE  PROJECT TIMELINE (Dates listed are for training purposes only) 2  Union Court Apartments SMT # 79596 New Construction Four (4) residential bldgs:  80-Unit Seniors Apartment bldg  12-Unit Townhouse (Bldg 1)  12-Unit Townhouse (Bldg 80-Unit Seniors Apartment bldg Townhouse (Bldg 1) 2)  7-Unit Townhouse (Bldg 3) Five (5) detached parking garage bldgs (to accommodate 57 vehicles + another 179 surface parking spaces) 111 residential units RR “A” Parking Garage No. 2. Townhouse Unit Entrance (Bldg 2) 3 4 NOTICE TO PROCEED (NTP) 5  UNION COURT - 79596 SMT Construction Checklist screen + Box Upload 6  UNION COURT - 79596 SMT Development Progress screen entries 7  Union Court - 79596 Typical Draw Package Contents Draw Request Requisition (aka Application & Certification For Payment – AIA G702-703) Executed Change Orders (with all back-up documentation) Change Order Log Lien Waivers Owner’s Sworn Statement Sources & Uses (aka Development Budget spreadsheet) Project Cost Schedule Supporting Cost Documentation Soft Cost Invoices Architect’s Invoice(s) Interest Legal 8  Union Court - 79596 Typical Draw Package Contents Draw Request Requisition (aka Application & Certification For Payment – AIA G702-703) Executed Change Orders (with all back-up documentation) 9  Line 1. Original Contract Price The original contract price is exactly as it sounds, the original contract price. Line 2. Net Change By Change Orders A change order is an agreement to add or deduct work. Line 2 could be positive or negative. A positive number means that work was added to the original contract. A negative number means that work was deducted or reduced. Line 3. Contract Sum To Date The “contract sum to date” is the original contract price (from line 1) combined with the net change by change orders from line 2. Line 4. Total Completed And Stored To Date The Continuation Sheet (G703) shows an itemized list of work completed during the period and calculates the total amount of work completed up through the billing period along with the value of all materials that are currently being stored onsite. Line 5. Retainage Retainage or retention is a percentage of payment that the GC or Owner will hold until the project or job is complete, which typically falls somewhere Union Court between 5% and 10 %. Keep in mind that many states require variable retention. This means that SMT # retainage is reduced or paid out once a certain percentage of the contract is completed. 79596 10  Line 6. Total Earned Less Retainage Take the work completed and materials stored amount (line 4) and subtract the total amount of retainage that was calculated in line 5. This will give you the total billable amount earned up until this point. Line 7. Less Previous Certificates For Payment Subtract previous payments that have already been received. Line 8. Current Payment Due Subtract line 7 from line 6. This line represents how much money is expected to be billed in the current period. Line 9. Balance To Finish, Including Retainage This amount is merely the remaining contract price Union Court that will still be due once the Architect or Owner approves the current payment application. SMT # 79596 11 Union Court SMT # 79596 12  UNION COURT - 79596 SMT Development Progress Requisition #13 (period to screen 04/30/2022) 13 UNION COURT - 79596 Requisition #13 (period to 04/30/2022) 14 UNION COURT - 79596 Requisition #13 (period to 04/30/2022) Change Order #03 15  UNION COURT - 79596 Requisition #13 (period to 04/30/2022) Owner’s Sworn Statement / Sources & Uses / Development Budget spreadsheet 16 UNION COURT - 79596 SMT Development Progress screen 17  NEW ROADS PLAZA - 78788 (one (1) new construction with 95 units in Bronx, NY) SMT Development Progress screen 18 WWHA HOUSING PRESERVATION PORTFOLIO - 80296 SMT (moderate rehab Development of 21 buildings over 3 Progress screen separate sites in Walla Walla, WA) 19 Session 4: SMT & Box Use and Process During SECTION TITLE Construction SECTION SUBTITLE UNION COURT - 79596 Box Cloud Space E-mails 21  UNION COURT - 79596 Box Folder Path Bid Review Developer 3P Monitor SV Upload Invoices Union Court Due Diligence 3P Monitor SV Projects 2021 WI Apartments Reports (79596) Guarantor Financials- 3PM (Lender) SV Background Reports Working Constructio Monthly Architect_GC Files n Reporting Reports Construction Schedules Draws_COs Subsurface Inspections & Soil Testing 22  UNION COURT - 79596 Box Folder Path Bid Review 3P Monitor SV Invoices Developer Upload 3P Monitor Union Court SV Reports Due Diligence Apartments 3PM (Lender) SV (79596) Guarantor Financials- Reports Background Architect_GC Working Constructi Monthly Reports Files on Reporting Construction Schedules Draws_COs Subsurface Inspections & Soil Testing 23 2021 → WI → UNION COURT APARTMENTS (79596) Union Court – 79596 Box Folders WI → UNION COURT APARTMENTS (79596) → WORKING FILES 24 UNION COURT APARTMENTS (79596) → WORKING FILES → CONSTRUCTION Union Court – 79596 Box Folders WORKING FILES → CONSTRUCTION → MONTHLY REPORTING 25 CONSTRUCTION → MONTHLY REPORTING → 3P MONITOR SV REPORTS Union Court – 79596 Box Folders CONSTRUCTION → MONTHLY REPORTING → DRAWS_COs 26 Session 4: SMT & Box Use and Process During SECTION TITLE Construction SECTION SUBTITLE