ABA Great Hall PARTNERS CONSTRUCTION PROJECT REPORT APRIL 2019 June 14th, 2019 ?It; Great Hall PARTNERS TABLE OF CONTENTS Section Section Page 1 Project Schedule 1 2 Financials 2 2.1 Key Highlights Great Hall Expense Report 2 2.2 Key Indicators 3 3 Design and Construction Update 5 3.1 Key Highlights Design 5 3.2 Key Highlights?Construction 7 3.3 Project Change Log 11 34 Compensation Events Change Directives 15 TABLE OF CONTENTS Great Hall PARTNERS PROJECT SCHEDULE 1.1 Milestone Schedule Task Name May Schedule April 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 21?, 2017 December 21?, 2017 December 21?, 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 September 9th, 2020 May 22nd, 2020 May lst, 2019 PHASE 2 MOD 3 January 26th, 2022 May 24th, 2021 January 30th, 2020 PHASE 3 MOD 1 April 18th, 2023 June 8th, 2022 October 23rd, 2020 PHASE 4 MOD 1&3 May 22nd, 2024 July 14th, 2023 November 3rd, 2021 The current forecasted delay, according to the preliminary May Schedule provided by the Contractor, is 647 Working Days 931 Calendar Days. This preliminary schedule takes into account anticipated design and construction delays to the Project Schedule related to Relief Event 6 and only certain of the Change Directives listed in Sections 3.3.1 and 3.3.2 hereof. This preliminary Project Schedule does not account for impacts related to certain other pending Compensation Events other than Relief Event 6) and other certain Change Directives issued by the Owner (also listed in Sections 3.3.1). The preliminary schedule set forth above represents the Contractor?s current preliminary estimates and is subject in all respects to further assessment, analysis, review, modification, all of which is ongoing, as well as the Contractor?s ongoing investigation of possible additional mitigation efforts sequencing, construction methods, etc.). In particular, the above preliminary schedule assumes expedited design iterations and Permit approval processes. The achievement of such timeline assumptions, in certain cases, may depend on third party approvals over which the Developer has no control and agreement by the Owner with the proposed mitigation measures necessary to achieve such timing assumptions. If such expedited iterations and permitting processes cannot be achieved within the timeframes assumed by such assumptions, the above schedule will impact the Project Substantial Completion date at least by an additional 160 Working Days 233 Calendar Days. The Developer (with the involvement of its Contractor) and Owner are currently assessing and seeking good faith resolutions regarding the schedule and monetary impact of Relief Event 06, other Compensation Events, and the Change Directives mentioned in Section 3.3.1. CONSTRUCTION PROJECT REPORT APRIL 2019 1 3,627,281.92 69,609 874,276 1,633,122 121,519 11,112 105,090 429,571.21 15,134 24,678 58,583,190 1,240,783 21,450,336 1,633,122 877,595 5,760,316 TOTAL BUILDING DEMO HVAC CURBSIDE CANOPY TICKET COUNTER TSA PARTITION WAY FINDING SIGNAGE ELECTRONIC SIGNAGE SECURITY SYSTEMS CONVEYENCE SYSTEMS F,F,& E CUSTOMER EXPERIENCE Total Actual Progress 140,263 420,790 4,529,724 139,580 169,173 85,227,055 98.00% (54,624,934) 61,866,413 98.00% (39,838,667) 1,636,239 13,670,951 51,947,112 801,204 11,772,019 140,263 420,790 3,749,524 1,514,484 1,678,373 40,272,291.85 1,085,996 13,004,690 20,302,307 98.00% (13,012,443) 16,753,585 216,439 3,332,283 PHASE 1 - PLANNED PROGRESS AOB Corridor 6th Floor 30,602,121 35.19% 22,027,746 34.89% F,F,& E CUSTOMER EXPERIENCE Total Actual Progress 5th Floor 60,744.06 602,646.17 SECURITY SYSTEMS CONVEYENCE SYSTEMS ASSET 151,091.46 1,626,469.04 50,118.24 151,091.46 1,346,326.00 543,799.53 ELECTRONIC SIGNAGE 36,220,770 100.00% (21,053,352) 1,669,811 4,653,867 8,759,112.77 293,349 20,844,631 Lvl 4 Receiving 15,167,418 41.87% 10,921 32,763 298,428 9,196 241,496 6,068,057 7.63% (1,213,611) 3,279,792 7.63% (655,958) 107,799 1,064,432 3,462,038 65,417 775,567 10,921 32,763 206,609 86,474 241,496 1,910,856.29 74,950 715,723 5th Floor 677,466 7.63% (135,493) 559,049 7,222 111,195 1,912,062 10,921 32,763 284,863 8,778 241,496 5,943,064 7.63% (1,188,613) 3,403,623 7.63% (680,725) 102,899 2,545,950 63,018 740,314 10,921 32,763 216,000 90,405 241,496 1,985,999.85 77,782 748,256 585,586 6.10% 10,921 32,763 234,783 98,266 241,496 1,418,819 5,070,105 7.63% (1,014,021) 8,625,910 7.63% (1,725,182) 10,921 32,763 420,513 12,958 241,496 4,534,102 87,011 1,092,844 2,041,403 151,899 731,982 7.63% (146,396) 13,890 131,363 536,964 18,917 30,848 PHASE 4 - PLANNED PROGRESS Lvl 4 Receiving 6th Floor 2,136,286.99 83,448 813,322 5th Floor 4,854,446 6.10% 2,623,834 6.10% Great Hall MONTHLY EXPENSE REPORT - APR 2019 TOTAL TO DATE - PLANNED PROGRESS PHASE 3 -PLANNED PROGRESS PHASE 2 - PLANNED PROGRESS 6th Floor 5th Floor AOB Corridor 6th Floor 193,197 193,197 1,135,056 4,056,084 6.10% 193,197 4,754,451 6.10% 193,197 2,722,899 6.10% 193,197 193,197 6,900,728 6.10% 26,210 336,410 10,366 26,210 187,826 78,613 26,210 227,891 7,022 26,210 172,800 72,324 26,210 238,743 7,357 26,210 165,287 69,179 135,403,349 2,874,754 53,981,692 2,041,403 1,998,836 14,735,382 1,912,062 346,053 1,038,159 11,624,147 6,745,369 3,296,519 1,418,819 237,416,545 36.53% (135,289,396) TOTAL 1,822,569 1,135,056 102,127,149 15.71% 4,900,446 2,581,492 459,446 1,709,029.59 66,758 650,658 1,529,649 153,149 82,319 2,036,760 50,414 592,251 8,737 1,588,799.88 62,226 598,605 8,737 541,973 6.10% 447,239 5,778 88,956 1,529,649 8,737 86,239 851,545 2,769,630 52,334 620,454 PHASE 4 - ACTUAL PROGRESS Lvl 4 Receiving 6th Floor 8,737 1,528,685.03 59,960 572,579 5th Floor 8,737 587,580 1,637,624 5,504,086.42 103,225 7,334,902 5th Floor 8,737 7,289,864 35.19% 6,015,639.59 77,715.91 1,196,509 Lvl 4 Receiving 50,363.82 587,517.46 4,908,770.85 18,652,431.60 287,684.98 4,226,929.52 PHASE 1 - ACTUAL PROGRESS AOB Corridor 6th Floor 50,363.82 14,274,035.28 389,943.94 4,669,539.61 5th Floor TSA PARTITION WAY FINDING SIGNAGE BUILDING DEMO HVAC CURBSIDE CANOPY TICKET COUNTER ASSET Great Hall MONTHLY EXPENSE REPORT - APR 2019 TOTAL to DATE - ACTUAL PROGRESS PHASE 3 - ACTUAL PROGRESS PHASE 2 - ACTUAL PROGRESS 6th Floor 5th Floor AOB Corridor 6th Floor Great Hall PARTNERS 2.2 Key Indicators 2.2.1 Design and Construction Cost Certified Amounts: The Contractor certified a total cost of $145,110,067, which includes costs for work performed through the end oprriI. 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 26,000,000 Total Design 41,600,000 Mobilization Payment 1 23,920,000 Mobilization Payment 2 11,960,000 Mobilization Payment 3 11,960,000 Amortization (4,857,081) Permits 2, 71 7,550 Procurement 11,990,259 CMF 2,421,890 Phase 1 30,894,933 Preconstruction Works 12,437,000 Total Construction 103,510,066 Net Amount 145,110,067 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 installments beginningjanuary 2018 and concluding September 2018. Mobilization Payments: Criteria for Mobilization Payments 1, 2, 3 have been met, and the 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. CMF: Construction of the Central Monitoring Facilities. - Phase 1 Construction and Preconstruction works. CONSTRUCTION PROJECT REPORT APRIL 2019 3 Great Hall PARTNERS 2.2.2 Progress Payments The total progress certified to the Owner for design and construction costs is $81,934,047, which includes costs for work performed through the end of April. The Progress Payment contains costs associated with progressed design services which are not included in invoices from the Contractor (20% of the total design cost will be payable to the Contractor upon approval by the Owner of the final design). CONSTRUCTION PROJECT REPORT APRIL 2019 4 Great Hall PARTNERS DESIGN AND CONSTRUCTION UPDATE Architectural and MEP IFC 2018 (plumbing awaiting SUDP on hold due to CD 23). Bulletin B-05-0001 submitted to CCD on April 19, 2019 (Change Directive and RFI updates to MEP). 3.1 Design 3.1.1 Design Packages PACKAGE VERSION STATUS Permit 100% Issued for Construction (IFC) package submitted to City and issued** CMF County of Denver on May 1, 2018, approved June 18,2018. 0 Deferred Submittals for Life Safety issued to CCD on March 28, 2019. Awaiting Life Safety . Permit Phase 1 IFC submitted to CCD on August 15, 2018, approved December 5, Issued** New bulletin with CCD IFC submitted to CCD onJune 13, 2018, approved October 22,2018. Ph 0 Bulletin (Transfer beam update due to Relief Event 6) . ase 1 Permit Structural IFC approved February 11? 2019' . Issued** 0 Bulletin 8-03-0003 (Transfer beam and RFI updates) approved April 1, 2019. 0 Submitted on May 15, 2018, approved September 25,2018. Permit Phase 1 Demo IFC 0 Bulletin B-01-0004 (Transfer beam update due to Relief Event 6) Issued** approved February 12,2019. 0 100% Issued for Review (IFR) Submitted to the Owner on December 4, 2018 (All disciplines). 0 Transfer Beam IFC (Relief Event 6 issue) submitted to CCD on Phase 2 December 4, 2018, approved February 14,2019. Ongoing Envelope Demolition IFC (Phase 2 3) issued to the Owner on April 18,2019 awaiting Letter ofAuthorization. Permitting Q4 2019. 90% Design for Phases 3 4 submitted to the Owner on December 21, 2018 (All disciplines). Phase 3 Envelope Demolition IFC (Phase 2 3) issued to the Owner on April Ongoing 18,2019 awaiting Letter of Authorization. Permitting QZ 2020. 90% Design for Phases 3 4 submitted to the Owner on December Phase 4 21, 2018 (All disciplines). Ongoing Permitting 02 2020. North Terminal 0 IFR submitted to the Owner on December 3, 2018 (AMEP disciplines). . 0 Architectural Demo permit approved February 4,2019. (NT) [Airport . . Office Building 0 Structural perm-It approved February 14,2019. . Ongomg 0 Level 4 Concessmnalre Office submitted to CCD on Apr 18,2019. (A03) 0 Permitting 03 2019. Backflow Preventer approved September 6,2018. 0 Grease Interceptor approved March 1, 2019 (issuance awaiting SUDP Other Permits on hold due to CD 23). Various Erosion Control approved February 27,2019. Gas Connection approved November 19,2018. **Adjustments in schedule/project may require modifications to building permits already approved. CONSTRUCTION PROJECT REPORT APRIL 2019 Great Hall PARTNERS 3.1.2 Design Elements Wayfinding Two wayfinding design meetings were held during April. Further confirmation on sign types and locations were provided. The Developer is awaiting final confirmation for Phase 2-4 wayfinding designs. New totem mock up details were discussed and forwarded to the Owner for approval. An art lighting design workshop was held with the Projects lighting designer and the Owners art lighting specialist. The Developer is working closely with both parties to ensure art is lit according to the Owner and artists wishes. Life Safety Master Plan Collaboration between the Owner, Developer, Contractor, and the Denver Fire Department continues to define the functionality of the Terminal Life Safety Systems. North Terminal Design Two meetings were held in April to review specific aspects of the North Terminal design; alignment of curtain walls and further refinement of a new Employee Access Portal (EAP). Further confirmation is required from the Owner for how the EAP will be operated. Ticketing Counters The first of many training sessions was held on the trial installation ticket counter unit in the Federal Inspection Area (FIS) recheck. A detailed design review ofaccess control, control and cabling for the new ticket counters was also held to ensure alignment between all parties. TSA Power Requirements A meeting was held to review the power requirements for the new TSA equipment based on an updated layout provided by the Owner. Power requirements will be updated as part ofthe next Phase 3 submittal. Anti-Backtrack Doors The manufacturer of the new anti?backtrack doors presented the proposed design to the Owner?s design, security and business technology teams. Further requirements for these doors are sought from the Owner and the design team will work closely with stakeholders to understand and implement these. CONSTRUCTION PROJECT REPORT APRIL 2019 6 D00 Great Hall PARTNERS 3.2 Construction The current phases of work areas include the Central Monitoring Facility (CMF) and Phase 1 MOD 2. 3.2.1 CMF Work activities in the CMF are pending approval of the deferred submittals for life safety permits: smoke control and fire protection. These elements affect the ceiling spaces and walls. Installation of final finish elements will resume after life safety revision approval. 3.2.2 Phase 1 - MOD 2 Terminal Perimeter Work: Terminal perimeters demolition continues with the removal of the glass and steel curtain wa s enclosing Level 5 and Level 6, finishing up the work on the east side of the terminal. Following the removal of the curtain walls, demolition of the steel and concrete slab began, back to the point where the new slab extension installation will begin. Concrete slab was removed, followed by the large steel beams along the northern portion of the west side, beginning on L6, but working down to L5. On the eastern side, in the northern portion of L6, the perimeter concrete slab cutting began. West perimeter, demolition of cantilever slab edqe. {Lookinq south, 4/30/19) Demolition of mechanical shafts continued along the perimeters of both the east and west sides. Work was completed on the west side, on both levels, 5 and 6. east, curtain wall demolition, glass and steel framing removed. (Looking north, 04/18/19) CONSTRUCTION PROJECT REPORT APRIL 2019 7 DOA Great Hall PARTNERS Baggage Claim Work: In the baggage claim area of Level 5, terrazzo flooring work progressed in several locations. On the west, sequence two was completed, inspected, and handed back to the Owner. Following the completion of sequence two, the walls were moved into the final location for the west side of Phase 1, sequence three. In sequence three, the largest of the three phases on the west side, floor demolition began, and the grinding and flattening process is underway. L5 west, Seq 3 of baggage claim terrazzo. Floor flattening ongoing. (Looking south, 4/30/19) On Level 5 East, sequence two was polished, finished, inspected, and handed back to the Owner. The McCain wall enclosures were moved into sequence three position, and the grinding and flattening of the floor has begun. L5 west, sequence two of the baggage claim terrazzo looking northwest, 04/18/19) CONSTRUCTION PROJECT REPORT APRIL 2019 8 D00 Great Hall PARTNERS Terminal Plaza Work: Work activities continue above the Automated Gateway Transit System (AGTS) passenger arrivals area. Demolition over the eastern AGTS exit continues with the removal of concrete slab and metal decking. On the west side, demolition to remove the lighting and ceiling elements over the escalators continues in preparation of the netting. Following the completion of the AGTS demolition, the slab extensions will be constructed on both sides. arrivals lid demolition looking north west. 04/25/19) The use of the new SpyderCranes ramped up in April, beginning with the continued positioning and testing of the large cranes on Level 5, as well as the two smaller cranes being hoisted to Level 6, and the subsequent testing and inspections on Level 6. Steel deliveries began in April on a basis and will continue throughout the remainder of the steel work in Phase 1. The steel is brought in on Level 5 and stored in the plaza. Using both SpyderCranes in tandem, the erection of steel began on Level 5 east with the erection of the first transfer beam, on April 22, 2019. Following this beam installation, the slab extension steel erection began, and continued throughout April. L5 east, ?rst transfer beam installation (looking west 04/22/19) CONSTRUCTION PROJECT REPORT APRIL 2019 9 DOA Great Hall PARTNERS On the western side of the Level 5 plaza, the second transfer beam was moved onsite, and is pending installation in early May. L5 west, second transfer beam onsite and awaiting installation. (Looking west, 04/30/19) On Level 6 East, using the smaller SpyderCrane that was hoisted up, the steel erection of the first Airline Pod began, Pod A. Pod A is the first of two Pods on the eastern side of Phase 1, and of four total in Phase 1. The larger beams of the Pod were hoisted to Level 6 using the larger crane on Level 5, and the detail work was performed with the smaller crane. L6 east, smaller Spyder Crane sitting under the newly erected steel for Pod A. (Looking south, 04/30/19) CONSTRUCTION PROJECT REPORT APRIL 2019 10 Great Hall PARTNERS 3.3 Project Change Log1 3.3.1 Open Change Events As noted in Section 1.1 hereof, the Owner and Developer (including the involvement of its Contractor) are currently in discussions to assess and seek a resolution regarding the schedule and monetary impact of Relief Event 6, Compensation Events, and Change Directives noted herein. Type Description Date Received Change Directive 006 . . . 26?Mar?18 Developer conceSSIons office relocation Change Directive Change Directive 007 Change Directive 26-Mar?18 Level 6 A08 corridor program revisions Change Directive 008 Change Directive 28-Mar?18 Revised Technical Spec 087100?Door Hardware Change Directive 009 Change Directive Revs to the TSA Spaces on the 6th level 22?May?18 Change Directive 013 Change Directive 19?Sep?18 Removal of the Hydronic Pumps Relief Event 6 Relief Event 02?Nov?18 Unknown Structural Condition Change Directive 21 Change Directive 5?Dec?18 Restroom Upgrades Change Directive 15 Change Directive 15-Nov-18 Level 5 Storefront Change Directive 16 Change Directive 28-Dec?18 Level 5 Concession Tenant Swaps 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. CONSTRUCTION PROJECT REPORT APRIL 2019 11 Great Hall PARTNERS Type Description Date Received Change Directive 17 Change Directive 28?Dec?18 Design Guidelines for Airlines in Phase 1 Change Directive 18 Change Directive 28?Dec?18 Level 6 TSA PET Shop Change Directive 20 Change Directive 28?Dec?18 Locations of Artwork Change Directive 22 Change Directive 13?Feb?19 Wall Finishes Change to Solid Surface Change Directive 23 Change Directive 13?Feb-19 Domestic Water Line to Terminal Change Directive 24 Change Directive 14?Feb-19 AGTS Pipes Change Directive 19 Change Directive 20?Feb-19 Materna Cabling Relief Event 7 Relief Event 25?Feb?19 Discovery of Unknown Utilities Relief Event 8 Relief Event 25?Feb?19 Level 5.5 Proiect Inverter Relief Event 9 Relief Event Pre-Existing Contaminated Material (Lead) and 26'F9b'19 Attachments Change Directive 27 Change Directive 15-Mar?19 Ticketing Kiosk Power and Data Cabling Change Directive 25 Change Directive Eliminate Phones and add (4)110?volt circuits and 22?Mar19 fiber lines for ADA (TV) CONSTRUCTION PROJECT REPORT APRIL 2019 12 Great Hall PARTNERS Type Description Date Received Change Directive 26 Change Directive Eliminate CMF Access Hardware and replace with Cypher 22?Mar19 locks Change Directive 28 Change Directive Revised (EDR 22/ Allowance) Scope from GHP and DEN self?perform Change Directive 29 Change Directive 22?Mar19 Removal of EDR 20 Customer Experience Relief Event 10 Relief Event 16?Apr?19 Adjacent Project Design Conflict Relief Event 11 Relief Event 29?Apr?19 Executive Design Review (EDR) Owner Caused Delays Relief Event 12 Relief Event 29?Apr?19 Administrative Modifications Relief Event 13 Relief Event 29?Apr?19 CBRA Project Relief Event 14 Relief Event 3?May-19 Relief Event 15 Relief Event 1?May?19 ROCIP enrollment for Contractor Relief Event 16 Relief Event 23?May?19 Terrazzo Relief Event 17 Relief Event 6?June?19 Owner Caused Delay Envelope Demolition IFC CONSTRUCTION PROJECT REPORT APRIL 2019 13 Great Hall PARTNERS 3.3.2 Closed Change Events Type Description Date Received Proposed course of action Change Request Change Request 001 20-Jan-18 Change Order 1 received, no delay associated with this change. Change Directive Change Directive 002 DEN airline assignment update 09?Feb?18 Change Order 2 received, no delay associated with change. Change Directive Change Directive 004 Changes to the BMS system 27?Feb?18 Change Order 2 received, no delay associated with change. Change Directive Change Directive 003 Removal of the Anti?Backtrack doors from LVL 6 to 5 22?Feb?18 Change Order 6 received, no delay associated with change. Change Directive Change Directive 011 Arriving Passengers Redesign 5?Oct?18 Change Order 6 received, no delay associated with change. ReHevaent Relief Event 3 Black Mold Discovered in West Tenant Spaces 27?Sep?18 Change Order 10 received, no delay associated with change. ReHevaent Relief Event 4 Black Mold Discovered in East Tenant Spaces 28?Sep?18 Change Order 10 received, no delay associated with change. Change Directive Change Directive 005 DEN Restroom Design Revisions 27?Feb?18 Change Order 11 received, no delay associated with change. Change Directive Change Directive 012 Owner to Modify Out of Scope Lifts 5?Oct?18 Change Order 11 received, no delay associated with change. Change Directive Change Directive 010 oversized lifts, and restrooms in airline pods 11?May?18 Change Order 12 received, no delay associated with change. Change Directive Change Directive 014 Security Camera Design Phases 2-4 5?Oct?18 Change Order 12 received, no delay associated with change. CONSTRUCTION PROJECT REPORT APRIL 2019 14 Great Hall PARTNERS 3.4 Compensation Events Change Directives As noted in Section 1.1 hereof, the Owner and Developer (including through its Contractor) are currently in discussions to assess and seek a resolution regarding the schedule and monetary impact of Relief Event 6, other Compensation Events, and Change Directives. As also noted in Section 1.1, the preliminary schedule set forth within this update is the Contractor?s current preliminary estimates and is subject in all respects to further assessment, analysis, review, modification, all of which is ongoing, as well as the Contractor?s ongoing investigation of possible additional mitigation efforts sequencing, construction methods, etc.). In particular, the above preliminary schedule assumes expedited design iterations and Permit approval processes. The achievement of such timeline assumptions, in certain cases, may depend on third party approvals over which the Developer has no control and agreement by the Owner with the proposed mitigation measures necessary to achieve such timing assumptions. If such expedited iterations and permitting processes cannot be achieved within the timeframes assumed by such assumptions, the above schedule will be impacted at least by an additional 160 Working Days 233 Calendar Days. This additional 233 Calendar Days will impact Phase 1 (120 days), Phase 2 (163 days), Phase 3 (210 days) and Phase 4 (233 days). CONSTRUCTION PROJECT REPORT APRIL 2019 15