The bill proposes Modification No. 3 to Contract No. DCAM-22-CS-RFP-0015 with Consigli/Keystone Adams EC Joint Venture, which seeks to increase the Guaranteed Maximum Price (GMP) by $1,808,145.72, raising the total contract amount from $70,954,868 to $72,763,013.72. This modification is necessary to address costs associated with owner directives and unforeseen conditions that emerged after the initial GMP was established. The contract, initially approved by the Council on June 22, 2023, involves design-build services for the modernization of the Adams Education School Campus, with a substantial completion date set for July 15, 2025. The bill also includes a provision for a Not-to-Exceed (NTE) amount increase from $5,500,000 to $24,005,492, which includes a $1,000,000 Owner's Allowance to facilitate additional project funding.

The bill emphasizes the need for Council approval due to the significant increase in contract value, which exceeds $1 million, and requires a Fiscal Certification from the Department of General Services Agency Fiscal Officer before the modification can take effect. It also mandates that the contractor seek approval from the Department's Office of the Chief Financial Officer before committing any funds for the work outlined in the contract. The modifications aim to ensure the timely execution of the project while adhering to financial guidelines and requirements, including the stipulation that certain items are ineligible for capital expenditure, necessitating the use of operating funds for future purchases.