DOA Great Hall PARTNERS GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT APRIL 14?, 2019 TABLE OF CONTENTS Section Section Page 1 Project Schedule 1 2 Financials 2 2.1 Key Highlights - Great Hall Monthly Expense Report 2 2.2 Key Indicators 3 Design and Construction Update 5 3.1 Key Highlights – Design 5 3.2 Key Highlights - Construction 7 3.3 Project Change Log 10 3.4 Relief Event 6 – Unknown Structural Conditions 15 3 TABLE OF CONTENTS i 1 PROJECT SCHEDULE 1.1 Milestone Schedule Task Name March Schedule February Schedule Initial Baseline Completion Developer Execution Date July 26th, 2017 July 26th, 2017 July 26th, 2017 Effective Date / Commercial Close August 24th, 2017 August 24th, 2017 August 24th, 2017 Financial Close December 21st, 2017 December 21st, 2017 December 21st, 2017 NTP 1 per DA 5.6 - All Administrative Requirements Due December 27th, 2017 December 27th, 2017 December 27th, 2017 NTP 2 per DA 5.7 - All Administrative Requirements Due July 6th, 2018 July 6th, 2018 June 26th, 2018 Construction Commencement July 11th, 2018 July 11th, 2018 July 30th, 2018 PHASE 1 – MOD 2 March 17th, 2020 March 9th, 2020 May 1st, 2019 PHASE 2 – MOD 3 April 6th, 2021 December 9th, 2020 January 30th, 2020 PHASE 3 – MOD 1 April 20th, 2022 August 26th, 2021 October 23rd, 2020 PHASE 4 – MOD 1&3 May 8th, 2023 September 9th, 2022 November 3rd, 2021 The current forecasted delay, according to the preliminary schedule provided by the D&C Contractor, is 383 Working Days / 551 Calendar Days and does not account for project schedule impacts related to certain compensation events currently being discussed with the Owner (other than Relief Event 6 as noted below). The projected schedule set forth above represents the D&C Contractor’s current preliminary estimates and is subject in all respects to further review, analysis, modification, and investigation of possible mitigation efforts (e.g., sequencing, construction methods) and ongoing discussions with the Owner in respect of the compensation events related thereto. The Owner, Developer, and D&C Contractor are collaborating in good faith to evaluate the above preliminary schedule impact further. The addition of 167 Working Days / 241 Calendar Days between the January to February schedules stems from estimated changes in the construction methodology and potential related timing impacts thereof due to Relief Event 6, discussions in respect of which are still ongoing with the Owner and subject to confirmation. The above preliminary schedule shows the latest information assessed as of today by the D&C Contractor, further assessment is ongoing. In particular, as noted above, the Developer (including involving its D&C Contractor) and Owner are currently in discussions regarding the impact of certain compensation events in addition to Relief Event 06. Once such discussions are finalized, there may be additional impacts on the construction schedule set forth above. GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 1 5th Floor BUILDING DEMO HVAC CURBSIDE CANOPY TICKET COUNTER 12,429,906.32 336,121.19 4,025,017.63 PHASE 1 - ACTUAL PROGRESS 6th Floor AOB Corridor 16,077,894.67 247,976.72 3,643,499.63 5,185,319.63 66,989.02 1,031,358 Lvl 4 Receiving 4,083,722.81 88,977 6,322,488 PHASE 2 - ACTUAL PROGRESS 6th Floor 5th Floor 1,528,685.03 59,960 572,579 506,424.26 4,231,228.53 TSA PARTITION WAY FINDING SIGNAGE ELECTRONIC SIGNAGE SECURITY SYSTEMS CONVEYENCE SYSTEMS F,F,& E CUSTOMER EXPERIENCE TOTALS TOTAL ACTUAL PROGRESS 2,769,630 52,334 620,454 PHASE 3 - ACTUAL PROGRESS 5th Floor 6th Floor AOB Corridor 447,239 5,778 88,956 2,036,760 50,414 592,251 86,239 851,545 PHASE 4 - ACTUAL PROGRESS 6th Floor Lvl 4 Receiving 5th Floor 1,588,799.88 62,226 598,605 1,709,029.59 66,758 650,658 82,319 3,627,281.92 69,609 874,276 1,633,122 121,519 43,412.26 43,412.26 8,737 8,737 8,737 1,529,649 8,737 8,737 8,737 130,236.78 130,236.78 26,210 26,210 26,210 26,210 26,210 26,210 1,160,496.82 468,740.57 1,401,972.59 43,200.57 506,479 1,411,588 165,287 69,179 238,743 7,357 172,800 72,324 227,891 7,022 187,826 78,613 336,410 10,366 193,197 193,197 193,197 193,197 12,413,255 12,413,255 34.27% 2,623,834 2,623,834 6.10% 4,854,446 4,854,446 6.10% 2,722,899 2,722,899 6.10% 4,754,451 4,754,451 6.10% 193,197 1,135,056 4,056,084 4,056,084 6.10% 6,900,728 6,900,728 6.10% 519,464.80 52,359.75 19,113,396 19,113,396 30.28% 26,378,206 26,378,206 30.33% 6,283,667 6,283,667 30.33% 541,973 541,973 6.10% TOTAL 429,571.21 15,134 24,678 51,913,841 1,122,277 19,044,820 1,633,122 796,502 5,082,774 1,529,649 139,245 417,736 11,112 105,090 4,409,018 2,273,479 585,586 585,586 6.10% 1,731,004 1,135,056 91,228,524 91,228,524 14.04% 193,197 Great Hall MONTHLY EXPENSE REPORT - DEC 2018 TOTAL TO DATE - PLANNED PROGRESS ASSET COST BUILDING DEMO HVAC CURBSIDE CANOPY TICKET COUNTER 5th Floor 28,722,343.59 775,468 9,286,156 PHASE 1 - PLANNED PROGRESS 6th Floor AOB Corridor 38,069,749 587,167 8,627,194 11,656,545 150,591 2,318,483 Lvl 4 Receiving 8,759,113 103,977 10,429,080 PHASE 2 - PLANNED PROGRESS 6th Floor AOB Corridor 5th Floor 1,528,685.03 59,960 572,579 1,199,127 10,018,837 2,769,630 52,334 620,454 PHASE 3 -PLANNED PROGRESS 5th Floor 6th Floor 447,239 5,778 88,956 5th Floor 1,588,799.88 62,226 598,605 2,036,760 50,414 592,251 86,239 851,545 PHASE 4 - PLANNED PROGRESS 6th Floor Lvl 4 Receiving 1,709,029.59 66,758 650,658 82,319 3,627,282 69,609 874,276 1,633,122 121,519 TSA PARTITION WAY FINDING SIGNAGE 100,157 102,793 8,737 8,737 8,737 1,529,649 8,737 8,737 8,737 ELECTRONIC SIGNAGE 300,470 308,379 26,210 26,210 26,210 26,210 26,210 26,210 2,677,393 1,081,436 3,319,635 102,292 506,479 1,411,588 165,287 69,179 238,743 7,357 172,800 72,324 227,891 7,022 187,826 78,613 336,410 10,366 193,197 193,197 193,197 193,197 2,623,834 2,623,834 6.10% 4,854,446 4,854,446 6.10% 2,722,899 2,722,899 6.10% 4,754,451 4,754,451 6.10% 193,197 1,135,056 4,056,084 4,056,084 6.10% 6,900,728 6,900,728 6.10% SECURITY SYSTEMS CONVEYENCE SYSTEMS F,F,& E CUSTOMER EXPERIENCE TOTALS TOTAL PLANNED PROGRESS 1,198,462 123,979 44,141,886 44,141,886 69.92% 62,459,153 62,459,153 71.82% 14,125,619 14,125,619 68.18% 21,210,236 21,210,236 58.56% ACTUAL - PLANNED (25,028,490) (36,080,947) (7,841,952) (8,796,982) - - 541,973 541,973 6.10% - - - - TOTAL 429,571 15,134 24,678 1,529,649 255,371 766,112 11,112 105,090 7,843,577 2,945,266 585,586 585,586 6.10% 2,481,620 1,135,056 168,976,894 168,976,894 26.00% - (77,748,371) 193,197 - 101,344,749 1,999,417 34,683,369 1,633,122 1,489,205 10,870,382 Key Highlights – Great Hall Monthly Expense Report ASSET 2 FINANCIALS 2.1 GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT Great Hall MONTHLY EXPENSE REPORT - DEC 2018 TOTAL to DATE - ACTUAL PROGRESS 2 2.2 Key Indicators 2.2.1 Design and Construction Cost Certified Amounts: The D&C Contractor expects to certify a total cost of $135,095,476, which includes costs for work performed through the end of December. The January invoice of $4,741,021 is currently under review. The amount is divided as follows (descriptions of each cost follow): Certified Construction Costs Early Design Work $ 10,824,655 Design Amount 4,775,345 Design Amount FC Total Design 26,000,000 41,600,000 Mobilization Payment 1 23,920,000 Mobilization Payment 2 11,960,000 Mobilization Payment 3 11,960,000 Amortization (3,973,047) Permits Procurement CMF Phase 1 Preconstruction Works Total Construction Net Amount 2,583,900 11,990,259 1,426,953 21,190,412 12,437,000 93,495,477 135,095,476 Design: - Early Design Work for progress before Financial Close. - Design Amount due at Notice to Proceed 1 is equal to 30% of total the design cost less any previous Early Design Work payments. - Design Amount FC Payment is equal to 50% of the total design cost and is certified in nine equal monthly installments beginning January 2018 and concluding September 2018. Mobilization Payments: Criteria for Mobilization Payments 1, 2, & 3 have been met, and the D&C Contractor has waived Mobilization Payment 4. Amortization: Mobilization Payments are amortized at a rate equal to the percentage of Construction Work included in the certified amount compared to the Contract Price. Construction: - Permits: Includes fees to issue permits for Phase 1 and AOB. Procurement: Includes structural steel, kiosks & ticketing counters, vertical transportation, and MEP. GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 3 - CMF: Construction of the Central Monitoring Facilities. - Phase 1 Construction and Preconstruction works. 2.2.2 Progress Payments The total progress expected to be certified to the Owner for design and construction costs is $70,691,235, which includes costs for work performed through the end of December. The January Invoice ($4,913,101) is under review by the Owner. The Progress Payment includes costs associated with progressed design services which are not included in invoices from the D&C Contractor (20% of the total design cost will be payable to the D&C Contractor upon approval by the Owner of the final design). GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 4 3 DESIGN AND CONSTRUCTION UPDATE 3.1 Design 3.1.1 Design Packages PACKAGE VERSION o CMF Phase 1 Architectural and MEP IFC Design Phase 1 Structural IFC o o o o o o Phase 1 Demo IFC Phase 2 IFC submitted to CCD on August 16th, 2018. All comments have been addressed and closed. IFC submitted to CCD on June 13th, 2018 Revision 1 submitted on August 1st, 2018. Revision 2 submitted on September 12th, 2018. All comments have been addressed and closed. 100% Completed Permit Issued 100% Completed Permit Issued** 100% Completed Permit Issued 100% Completed o o Submitted on May 15th, 2018. Approved by CCD on September 25th, 2018. o 100% Issued for Review (IFR) Submitted to the Owner on December 4th, 2018. Comment resolution process completed. Permitting Q4 - 2019 Ongoing 90% Design for Phases 3 & 4 submitted to the Owner on December 21st, 2018. Permitting Q2 - 2020 Ongoing IFR submitted to the Owner on December 3rd, 2018. AOB Architectural Demo Package submitted to CCD for Permit on December 12th, 2018. IFC submitted to CCD February 4th, 2019. Permitting Q3 - 2019 Ongoing o o o Phase 3 & 4 o o Airport Office Building (AOB) Issued for Construction (IFC) package submitted to City and County of Denver (“CCD”) on May 1st, 2018. STATUS o o o Permit Issued **Adjustments in schedule may require modifications to building permits already approved GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 5 3.1.2 Design Elements TSA – Security Screening Check Points TSA program clarification document sent by the Owner to enable Change Directive 9 to be priced. Phase 3 drawings will be updated following that document. Bathrooms Executive design review held on February 25th. The Owner reviewed some bathroom fixture and accessory samples, final selections to be made in March. Wayfinding Final confirmation of the wayfinding design is currently under discussion. Furniture, Fixtures, and Equipment (FF&E) Subject to the Executive Design Process, the team provided twenty front of house furniture items for an Executive Design Review on February 25th. Back of house furniture meetings continue to clarify numbers and types of furniture required. Art Design meetings continue after an update to Change Directive 20 provided by the Owner. The Developer is working closely with the Owner’s art installer and original Artists to refine the design. Life Safety Master Plan Collaboration between the Owner, Developer, D&C Contractor, and the Denver Fire Department continues to define the functionality of the Terminal Life Safety Systems. GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 6 3.2 Construction Construction activities are continuing in two areas of the terminal, the Central Monitoring Facility (CMF) and Phase 1 – MOD 2. 3.2.1 CMF Work in the CMF continued with concentration electrical elements and wiring throughout the space. Conduit rough-in to the electrical room is ongoing, and sub-contractors continued installing wiring and conduit throughout the CMF space. CMF IT room overhead electrical. (02/21/19) 3.2.2 Phase 1 – MOD 2 New escalator installation continues with the mounting of large steel members to support the equipment on Level 4, of the AGTS. This work will continue for several months as the trades coordinate their crafts with the AGTS schedule and nearby passengers. L3 crawl space with new steel beams erected for the south escalator pits. (02/21/19) GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 7 Terminal Perimeter Work: Along the terminal perimeters, demolition continued with the removal of the glass and steel curtain walls that enclose levels 5 and 6. The demo work progressed to the southern end of the Phase 1 work area, was completed. The weathertight walls that protect the interior of the terminal were finished on both the east and west sides of the Phase 1 work area, allowing the curtain wall demolition to continue without interruption, and for the D&C contractor to begin to move their demolition operation to the eastern side of the terminal. On level 6, demolition has continued concerning the layer of topping grout throughout the work area. The grout slab needs to be removed and replaced before the new flooring installation. L5/6 west, curtain wall demolition, glass and steel framing removed. The western side is completed, and work will move to the eastern side. (Looking north, 02/28/19) In the baggage claim area of level 5, the new terrazzo flooring work progressed in several locations. On the western side, the first portion of the terrazzo was completed, opened for public use. Terrazzo work is now progressing into a second sequence of terrazzo on the western side and continuing in a more substantial sequence on the eastern side. L5 west, baggage claim terrazzo flooring. Flooring is completed and open for public use. Arrow indicates the walls for the next sequence of terrazzo work. (Looking south, 02/25/19) GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 8 Terminal Plaza Work: In the plaza, work was carried out to prepare the Automated Gateway Transit System (AGTS) arrivals area for demolition. The netting installation began on the eastern AGTS arrivals exit, and following the netting installation, demolition of the overhead slab lid began. Demolition of both the eastern and western slab lids will continue through April and is necessary before constructing the new slab extensions. Throughout February, work continued to demolish the edge of the northern bridge, at the north end of the Mod 2 Plaza. The concrete slab was removed, followed by the steel structure, and finally, a railing was constructed along the new slab edge, to allow the bridge to re-open again, for full passenger use. AGTS netting installation prior to overhead slab demolition. (Looking north, 02/27/19) L6 northern bridge partial demolition. Demolition is complete, and the arrow indicates the new railing that was constructed for passenger protection. (02/28/19) GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 9 3.3 Project Change Log1 3.3.1 Ongoing Change Events Type Description Status Date Received Course of action Change Directive 006 Developer concessions office relocation Revised Preliminary Change Estimate provided to the Owner on 3/25/19, discussions with the Ongoing 26-Mar-18 Owner are ongoing. Change Directive Change Directive 007 Level 6 AOB corridor program revisions Revised Preliminary Change Estimate provided to the Owner on 3/25/19, discussions with the Ongoing 26-Mar-18 Owner are ongoing. Change Directive Change Directive 008 Revised Technical Spec 087100-Door Hardware Change Directive Change Directive Change Directive Relief Event Preliminary Change Estimate provided to the Owner on 2/21/19, Ongoing 28-Mar-18 discussions with the Owner are ongoing. Revised Preliminary Change Estimate provided to the Owner on Change Directive 009 3/25/19, discussions with the Revs to the TSA Spaces on Ongoing 22-May-18 Owner are ongoing. Schedule the 6th level impact is under evaluation. Preliminary Change Estimate Change Directive 013 provided to the Owner on 10/17/18, Removal of the Hydronic Ongoing 19-Sep-18 discussions with the Owner are Pumps ongoing. Relief Event 6 – Unknown Ongoing 02-Nov-18 Structural Condition See Section 3.4 of this report. Preliminary Schedule impact is included in Section 1.1. 1 Some items in the change log have been updated with information known at the time of issuing this report despite such updates not occurring during the reporting period. Items in the change log that have been withdrawn are not included in the tables provided in this section. GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 10 Change Directive Change Directive Change Directive Change Directive Change Directive Change Directive Change Directive 21 Restroom Upgrades Ongoing 5-Dec-18 Revised Preliminary Change Estimate provided to the Owner on 3/25/19, discussions with the Owner are ongoing. Schedule impact is under evaluation. Change Directive 16 – Level 5 Concession Tenant Swaps Revised Preliminary Change Estimate provided to the Owner on 3/25/19, discussions with the Ongoing 28-Dec-18 Owner are ongoing. Schedule impact is under evaluation. Change Directive 17 – Design Guidelines for Airlines in Phase 1 Revised Preliminary Change Estimate provided to the Owner on 3/25/19, discussions with the Ongoing 28-Dec-18 Owner are ongoing. Schedule impact is under evaluation. Change Directive 18 – Level 6 TSA PET Shop Change Directive 20 – Locations of Artwork Change Directive 22 – Wall Finishes Change to Solid Surface Revised Preliminary Change Estimate provided to the Owner on 3/25/19, discussions with the Ongoing 28-Dec-18 Owner are ongoing. Schedule impact is under evaluation. Revised Preliminary Change Estimate provided to the Owner on 3/25/19, discussions with the Ongoing 28-Dec-18 Owner are ongoing. Schedule impact is under evaluation. Revised Preliminary Change Estimate provided to the Owner on 3/25/19, discussions with the Ongoing 13-Feb-19 Owner are ongoing. Schedule impact is under evaluation. GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 11 Change Directive Change Directive Change Directive 23 – Domestic Water Line to Terminal Change Directive 24 – AGTS Pipes Revised Preliminary Change Estimate provided to the Owner on 3/25/19, discussions with the Ongoing 13-Feb-19 Owner are ongoing. Schedule impact is under evaluation. Revised Preliminary Change Estimate provided to the Owner on 3/25/19, discussions with the Ongoing 14-Feb-19 Owner are ongoing. Schedule impact is under evaluation. Revised Preliminary Change Estimate provided to the Owner on 3/25/19, discussions with the Ongoing 20-Feb-19 Owner are ongoing. Schedule impact is under evaluation. Change Directive Change Directive 19 – Materna Cabling Relief Event Relief Event #7 – Type 1(p) - Discovery of Unknown Utilities Ongoing 25-Feb-19 Proceed with Relief Event. Schedule impact is under evaluation. Relief Event Relief Event #8 – Type 1(g) - Level 5.5 Project Inverter Ongoing 25-Feb-19 Proceed with Relief Event. Schedule impact is under evaluation. Relief Event Relief Event #9 – PreExisting Contaminated Material (Lead) and Attachments Ongoing 26-Feb-19 Proceed with Relief Event. Schedule impact is under evaluation. Change Directive Change Directive 27 – Power and Data Issues with Kiosks Revised Preliminary Change Estimate provided to the Owner on Ongoing 15-Mar-19 3/25/19, discussions with the Owner are ongoing. Schedule impact is under evaluation. Change Directive Change Directive 25 – Eliminate Pay / TTY Phones and add (4) 110- Ongoing volt circuits and fiber lines for ADA (TV) 22-Mar19 GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT Proceed with Change Directive. Schedule impact is under evaluation. 12 Change Directive Change Directive 26 – Eliminate CMF Access Hardware and replace with Cypher locks Change Directive Change Directive 28 – Revised FF&E (EDR 22/ Allowance) Scope from GHP and DEN selfperform Change Directive Change Directive 29 – Removal of EDR 20 Customer Experience 22-Mar19 Proceed with Change Directive. Schedule impact is under evaluation. 22-Mar19 Proceed with Change Directive. Schedule impact is under evaluation. Ongoing 22-Mar19 Proceed with Change Directive. Schedule impact is under evaluation. Ongoing Ongoing 3.3.2 Closed Change Events Type Description Status Date Received Proposed course of action Change Request Change Request 001 Closed 20-Jan-18 Change Order 1 received, no delay associated with this change. Closed 09-Feb-18 Change Order 2 received, no delay associated with change. Closed 27-Feb-18 Change Order 2 received, no delay associated with change. Change Directive 003 Removal of the AntiClosed Backtrack doors from LVL 6 to 5 22-Feb-18 Change Order 6 received, no delay associated with change. 5-Oct-18 Change Order 6 received, no delay associated with change. Closed 27-Sep-18 Change Order 10 received, no delay associated with change. Change Directive Change Directive Change Directive Change Directive 002 DEN airline assignment update Change Directive 004 – Changes to the BMS system Change Directive Change Directive 011 Arriving Passengers Redesign Relief Event Relief Event 3 – Black Mold Discovered in West Tenant Spaces Closed GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 13 Relief Event Relief Event 4 - Black Mold Discovered in East Tenant Spaces Closed 28-Sep-18 Change Order 10 received, no delay associated with change. Change Directive Change Directive 005 DEN Restroom Design Revisions Closed 27-Feb-18 Change Order 11 received, no delay associated with change. Change Directive Change Directive 012 Owner to Modify Out of Scope Lifts Closed 5-Oct-18 Change Order 11 received, no delay associated with change. Change Directive Change Directive 010 Change Order 12 received, no delay oversized lifts, and Ongoing 11-May-18 associated with change. restrooms in airline pods Change Directive Change Directive 014 Security Camera Design Ongoing Phases 2-4 5-Oct-18 Change Order 12 received, no delay associated with change. GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 14 3.4 Relief Event 6 – Unknown Structural Conditions The D&C Contractor has made significant progress in the concrete testing plan and its analysis of the results. The D&C Contractor is also continuing to progress with its full assessment of the existing structural conditions at the Terminal. The design for Phase 1 was modified by the D&C Contractor and was submitted to and approved by the CCD. In addition, the D&C Contractor has deployed four cranes onsite and steel has also been delivered and is currently being stored in certain locations on Level 5 before it is used for the construction works. The D&C Contractor is still progressing with construction work in areas of the Project not affected by Relief Event 6. The current Project Schedule has been further updated by the D&C Contractor as set forth herein. Such preliminary Project Schedule shows the anticipated construction schedule modifications stemming from the potential impacts of Relief Event 6. Additional potential schedule impacts are possible, as more fully described in Sections 1.1 and 3.3.1 hereof. GREAT HALL PROJECT: FEBRUARY CONSTRUCTION PROJECT REPORT 15