VTX was engaged by a Surety to assist in assessing the costs to complete for multiple projects relating to a General Contractor (GC) that had filed for bankruptcy. VTX assessed the status of several ongoing projects, prepared multiple cost-to-complete reports, and prepared an overall financial analysis. Based on the findings, VTX was retained to assist in retendering multiple projects. This specific project involved heritage restoration of an old church, requiring remediation of existing materials plus a new addition to match the existing envelope. VTX determined the actual status of completion and identified multiple scopes of work that were not bought out under the original GC. Many aspects of the project required specialty work for historical finishes as well as installing an elevator into the historic building to meet accessibility requirements.
This also required the engineering and procurement of an entrance staircase design that had not been started at time of termination, however, the demolition was complete. Challenges were found in the foundation which required extensive remediation as well as incorporating the new addition into the existing foundation while matching the original exterior brick façade. Windows were also required to be remediated along with new custom windows fabricated to match the original structure. VTX’s scope of services included preparing Cost-To-Complete reports, reviewing scope gaps, remedial work, site safety, change orders as well as sourcing subcontractors, reconciling existing subcontractors, and negotiation of retender proposals.
To learn more about VERTEX’s Surety Consulting services or to speak with an Expert, call 888.298.5162 or submit an inquiry.