January 18, 2017 1. Phase IC Overview 2. Budget and Cost Escalation - PowerPoint PPT Presentation

January 18, 2017

1. Phase IC Overview 2. Budget and Cost Escalation 3. Construction Phasing Plan 4. Timeline 5. Q&A

1. Phase IC Overview 2. Budget and Cost Escalation 3. Construction Phasing Plan 4. Timeline 5. Q&A

Oyster Point – Existing Conditions

Oyster Point – Phase IC Phase IIC Cap Repair Yacht Club Boundary of Phase IC

WHERE ARE WE SINCE 2011? − Focus on Implementing Phase I − Phase IC includes infrastructure and open space − Phase ID includes 508,000 SF of Office/R&D buildings − Project Ownership Transfer Completed − August 2016, Oyster Point Development (“OPD”) acquired the Oyster Point project from Shorenstein/SKS − Project Team Set Up − OPD has set up office and operation at Oyster Point − SKS retained as consultant, leveraging their knowledge and project continuity − Civil, environmental and geotechnical consultants are engaged − Regular Communication with City Staff − Ongoing weekly standing meeting with City Staff since July 2016 − Community Outreach − Outreach to all tenants at Oyster Point who will be impacted by Phase I

1. Phase IC Overview 2. Budget and Cost Escalation 3. Construction Phasing Plan 4. Timeline 5. Q&A

2011 Phase IC Cost Estimate: $ 29,875,095 Hard Costs from Hathaway Dinwiddie $ 5,395,019 Soft Cost (assumed 20% of Hard Cost) $ 35,610,113 Total Costs 2017 Phase IC Cost Estimate: $ 34,129,757 Hard Costs with escalation through Oct 2016 from Hathaway Dinwiddie $ 1,706,488 Additional escalation from Oct 2016 through construction contract $ 8,305,256 Soft Costs (fully developed budget includes design contingency*) $ 44,141,501 Total Costs *Fully developed soft cost budget = 23% of Hard Costs

2011 Phase IIC Cap Repair Cost Estimate: $ 476,972 Hard Costs from Hathaway Dinwiddie $ 95,394 Soft Cost (assumed 20% of Hard Cost) $ 572,366 Total Costs 2017 Phase IIC Cap Repair Cost Estimate: $ 708,985 Hard Costs with escalation through Oct 2016 from Hathaway Dinwiddie $ 42,486 Additional escalation to start of construction $ 140,741 Soft Costs $ 892,212 Total Costs

1. Phase IC Overview 2. Budget and Cost Escalation 3. Construction Phasing Plan 4. Timeline 5. Q&A

Oyster Point – Phase I: Existing Conditions

Red dashed line indicates overall construction site fencing at this phase.

Oyster Point – Phase IC/ID at Completion Yacht Club

1. Phase IC Overview 2. Budget and Cost Escalation 3. Construction Phasing Plan 4. Timeline 5. Q&A

Anticipated Timeline: 35% Design Drawings January 2017 65% Design Drawings June 2017 Landfill Agency Approvals August 2017 Demo/Grading Permits August 2017 Land Conveyance Closing August 2017 First DDA Payment to City August 2017 Start of Construction (Demo/Temp Roads) September 2017 95% and 100% Design Drawings October 2017 Completion of Phase IC End of 2018

1. Phase IC Overview 2. Budget and Cost Escalation 3. Construction Phasing Plan 4. Timeline 5. Q&A