The bill proposes Modification No. 3 to Contract No. DCAM-24-CS-RFP-0032 with MCN Build, Inc., which seeks to increase the not-to-exceed amount by $36,983,620, raising the total contract value from $2,767,639 to $39,751,259. This modification is intended to fund an additional initial phase of the modernization project for Chisholm Elementary School, covering essential design-build services such as demolition, concrete work, plumbing, HVAC, and electrical services. The modification also includes requirements for the Design-Builder to post updated payment and performance bonds reflecting the Guaranteed Maximum Price (GMP) Amendment amount and to complete a Campaign Finance Reform Act Self-Certification Form before executing the contract. Additionally, a Project Labor Agreement must be negotiated with local unions to ensure timely project delivery.

The bill emphasizes the importance of local business participation, mandating that at least 35% of the contract's dollar volume be subcontracted to small business enterprises (SBEs) or certified business enterprises (CBEs). It also outlines the responsibilities of the Design-Builder, including maintaining insurance, providing key personnel, and adhering to project management software requirements. The modification includes changes in key personnel within the Design-Builder's team, with replacements for the Project Manager and Superintendent, and emphasizes the need for timely deliverables with penalties for delays. Overall, the bill aims to ensure the successful execution of the Chisholm Elementary School modernization project while adhering to budgetary constraints and compliance with local regulations.