The bill proposes the approval of Contract No. DCAM-25-CS-RFP-0006 with Corenic Construction Group, LLC, for a total not-to-exceed amount of $6,808,979.50, which includes an existing letter contract amount of $950,000. This contract is aimed at the initial phase of modernizing the Advanced Technical Center at the Penn Center, where Corenic will provide design and preconstruction deliverables while finalizing the full project scope and guaranteed maximum price. The contract is structured as a cost-plus-fixed-fee agreement and is expected to be completed by October 16, 2026. The selection of Corenic followed a competitive Request for Proposals process, and the contractor is required to meet specific performance standards, including penalties for delays.

Additionally, the bill amends the Nonprofit Fair Compensation Act of 2020, requiring nonprofit organizations to include indirect costs in their rates for goods and services provided under contracts. It allows nonprofits to calculate these costs based on various options, including a de minimis rate of 10% of direct costs. The bill also emphasizes compliance with equal employment opportunity laws and mandates that contractors pay their nonprofit subcontractors the same indirect cost rates they would have received as prime contractors. Overall, the bill aims to ensure efficient execution of the project while adhering to regulatory standards and promoting local economic inclusion.