Rev Final Slides UCMerced 2020 July8 NB › sites › merced2020.u... · Best and Final Offer...
Transcript of Rev Final Slides UCMerced 2020 July8 NB › sites › merced2020.u... · Best and Final Offer...
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University of California Board of Regents Joint Session: Committees on Finance and Grounds and Buildings UCSF Mission Bay July 21, 2016
2020 Project
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UC Merced is an intimate campus with a unique mission
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A venue for student success and social mobility reflecting California’s diversity
Research excellence in unique, targeted areas
A catalyst for economic diversification in the Central Valley
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What we have learnedThe financial rigor of the procurement created a better project
• Acting holistically about our long-range financial condition enabled us to set priorities
• The upset limit and the Best and Final Offer Process (“BAFO”) pushed us to identify creative solutions
• Quantifying our operations and maintenance helped us determine what we could afford while achieving our mission
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Existing Campus Context
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Academic
Residential
Student Life/Athletics
Campus Operations
Residential
Student Life Academic
Little Lake
Operations
Fairfield Canal
Le Grand Canal
Solar Array
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Little Lake will be framed as the social heart of the campus
Northeast view across Little Lake Central relationship of Little Lake to post-2020 campus
Little Lake
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2020 Project facilities are physically integrated with existing campus buildings
Existing Campus
2020 ProjectFacilities
Physical Capacity for 10,000 students
• Teaching• Research• Residential• Student Life
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“Academic Quad” gives form to the Research Enterprise
New faculty offices, classrooms and research labs are arranged around new quadrangle adjacentto the existing campus
Northeast view of low-water landscaped Academic Quad
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“Academic Walk” is the Central Connective and Pedestrian Circulation Feature
Mixed-use corridor programmed with classrooms on the ground floors and 1,700 student beds on the upper levels
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UC Merced at completion of the 2020 ProjectPhysical capacity for 10,000 students Integrated with the existing campus
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2020Academic Buildings 2020
Student Life
Academic
Housing
Student Life
2020 Housing
2020 Parking
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The delivery sequence is structured to minimize campus disruption
2018: First DeliveryClassrooms, Housing, Dining and Parking
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The delivery sequence is structured to minimize campus disruption
2019: Second DeliveryTeaching and Research Facilities, Housing, Parking and Recreation
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Three-phase delivery sequencing is structured to minimize campus disruption
2020: Substantial CompletionTeaching and Research Facilities, Housing, Recreation and Parking
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Financial Structure Update Developer increasing commitment to design and construction costs University’s annual cash flow requirement is unchanged
November 2015 Structure Current Proposed Structure
Developer Contribution $386 million $590 million
Annual Cash Flow Requirement $105 million $103 million
Payment and Performance Bonds
60% of design and construction costs
100% of design and construction costs
PaymentsDuring
Construction
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Best and Final Offer Process Summary
Key Scope Adjustments Graduate Student Housing
Significant donor gift of off-campus land provided opportunity to build graduate student/family housing as a separate project within the community. • This minimized need for 90,875 asf of graduate housing at this time. • Provides opportunity for co-location with childcare amenities
Public Safety Campus adopting distributed model that will integrate public safety functions throughout the entire campus rather than a 19,000 asf centralized facility.
Parking Execution of land transaction with the University Community Land Company, LLC (“UCLC”) enabled the campus to locate new parking south of campus on a more convenient site.
Scope Changes November RFP: 918,000 asf/1.4 million gsf Post-BAFO Process: 790,000 asf/1.2 million gsf
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Requested Regents’ Actions
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Budget and Commercial Terms of the 2020 Project Agreement
• Approve amendment of total project budget to $1,338.48 million
• Approve amendment of minimum project scope to 789,892 asf
• Authorize external financing of $600 million*
• Approve revision of the commercial terms of the 2020 Project Agreement
• Approve 2016-17 Budget for Capital Improvements and the Capital Improvement Program
*Authorize $550 million of new financing and utilization of $50 million of previously issued Century Bonds.
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Requested Regents’ Actions
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Approval of Design and LRDP Amendment • Determine that the environmental
consequences of proposed LRDP Amendment are adequately analyzed in the certified 2009 LRDP Environmental Impact Report (EIR) as updated in Addenda #6 and #7.
• Adopt related California Environmental Quality Act Findings
• Amend the 2009 LRDP to re-designate 27.55acres as “Campus Mixed Use”, amend the boundaries of the 2020 Project Site and make other conforming changes to the 2009 LRDP
• Approve the design of the 2020 Project, Merced Campus
Area re-designated as Campus Mixed Use
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http://2020project.ucmerced.edu
2020 Project + Master Plan