HomeMy WebLinkAbout09-18-18 Presentation Ocoee P3 Fire Station
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Headquartered in Orlando
Design & Construction – Orlando office (soon to be Ocoee)
Sales & Marketing – Jacksonville office
Experienced
Summit’s executive team has completed commercial projects totaling 15,000,000+ square feet
Reputation for cost efficient designs with high quality construction
History of On-Time completions
Financially solid: $40.0 million+ bonding capacity
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P3 Program Utilizes Prototype Designs with Options
Six prototypes
2-bay, 3-bay, and 4-bay designs
Single-story and two-story options
Savings from reduced architectural/engineering costs
Best practices design
Proven construction methods
Accelerated Project Delivery—”One Stop Shopping”
No separate bids for Design, Engineering, and Construction
Project can be completed within one year
Long term municipal lease financing provided
Optional furniture and specialized equipment packages available
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Project risk transferred to Summit: Maximum Guaranteed Price
Scheduling
Cost overruns
Construction delays
Third Party Architect or Engineer appointed by Municipality for project review and oversight
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Three-Bay Fire Station Design
Single story station of approximately 10,878 sq. ft.
Includes all necessary “dirty rooms” separate from living quarters
Three double deep truck apparatus bays to accommodate fire trucks and EMS vehicles
Eleven individual bunk rooms sharing three full bathrooms
Individual bunk room and bathroom for station chief (12 total bunk rooms)
Individual office space
Oversized training room to accommodate joint training (fire, EMS, police)
Report writing areas, TV lounge, exercise room
State of the art kitchen, outdoor patio and grill area
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Procurement Method
Allows municipality to award design and construction contract to one firm
No separate bid for design criteria package saves time, money, confusion, and hassle
Transfers project and financial risk to developer
Requirements
Municipality must provide notice of unsolicited proposal
Florida Administration Register and local paper
Notify local municipalities impacted (if any)
Third party architect/engineer hired by municipality to review proposal and oversee construction process
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Municipal Lease Purchase Agreement
Annual appropriation clause
Not considered Statutory Debt
Does not reduce Municipal Bond Capacity
No voter approval or referendum required
Provides budget flexibility
No revenue pledge
Lease payment commences after fire station completion
Up to 20 year fixed rate financing
Private placement with regional and national lenders
Low issuance costs
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Summit solicits finance proposals from lenders on Ocoee’s behalf
In-house Summit finance specialist can issue formal Finance RFP and assist Ocoee through documentation/funding process
Value added service—no charge to Ocoee
Lender finances 100% of project cost (including issuance costs, consultant fee)
upfront into an escrow account
Summit paid draws through escrow agent as project is completed
Ocoee does not make a lease payment until fire station is built
Financing typically completed within 3-4 weeks including city commission approval
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