Summer is really tough. You know, showing up to 2:00 PM meetings only a couple hours after you’ve woken up. Ouch. It makes it a little hard to focus when you‘re still trying to analyze your crazy dream.
But in all seriousness, last Monday’s OAC (Owner, Architect, Contractor) meeting was actually quite interesting. It was the first of many OAC meetings to come, and funny enough, the architects couldn’t make it and the contractor was excluded from the first half of the meeting. It went well regardless.
The meeting was significant because our newest team member Suzanne Brown of Equity Community Builders came and was finally put to work, and a fine job she did. Since it was the first meeting there was a lot to cover. By ‘a lot’ I mean a lot of budgeting and scheduling. The meeting commenced immediately into a long, fast-paced, and meticulous discussion about the exact costs of the project. We marked down which items had already been paid and we explored ways to reduce the price of those not paid for. Following this discussion we brought our contractor Jim Coyle into the room and we began talking schedule. The main points were centered around getting the final construction documents and drawings to the city review board a.s.a.p. to begin demolition and construction a.s.a.p. or at least by December.
It seemed that the big acronym of the day was GMP (Guaranteed Maximum Price). This is a bid that we need from our contractor to submit to the bank so we can obtain the much needed New Market Tax Credits, a giant government grant. With our sights set high but our time and money on the edge, we pushed through the pressing issues and set a plan to move forward. Forward to the second OAC meeting that is.
Equity Community Builders is committed to responsible development and management of property that contributes to the strength and vitality of neighborhoods and communities throughout Northern California. Check them out here.
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