020607 Virginia Aquarium #1Virginia Aquarium and
Marine Science Center
· Changing Functional Use of Building
· Over Water
· Keep Facility Open
· Accessibility to Site
· High Risk
· City Used Same AlE as Foundation
· City Pre-qualified Contractors
· Foundation used City Contractor
· Three Cost Estimates
Bid Opening December 7, 2006
•Cost Estimate $7.4M
•Low Bid $12.6M
•CSP Did Not Assign the Same Value to
the Project Risks as the Contractors
Options:
•Transfer $5.6M From Other Projects and
Award Contract
•Use a Different Procurement Method
•Start Over/Re-Design