HomeMy WebLinkAbout08/14/2007, BUS. 2 - NACIMIENTO WATER SUPPLY PROJECT COST SUMMARY REPORT i
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CITY OF SAN LUIS OBISPO
FROM: John E. Moss, Utilities Director
SUBJECT: NACIMIENTO WATER SUP LY PROJECT COST SUMMARY REPORT
CAO RECOMMENDATION
Consider the San Luis Obispo County Flood Control and Water Conservation District Cost
Summary Report for the Nacimiento Water Supply Project.
DISCUSSION
Background
In June 2004, the City entered into an agreement with the San Luis Obispo County Flood Control
and Water Conservation District (District) for the design and construction of the Nacimiento
Water Supply Project. The project entails the construction of an intake structure and pump
station at the Nacimiento Lake Dam, 45 miles of pipeline, two booster pump stations and three
storage tanks. The initial project will serve untreated water to Paso Robles, Templeton
Community Services District, Atascadero Mutual Water Company, CSA 10 (Cayucos) and the
City, with future expansion to other agencies expected. The four main agencies (not including
Cayucos) along with the District make up the Nacimiento Project Commission established to
advise the County Board of Supervisors on the development, design and operation of the
Nacimiento Water Supply Project.
The City has contracted for 3,380 acre feet per year of water from the project. The City will treat
this water at our Stenner Canyon Water Treatment Facility, which is currently being upgraded
and has available capacity to treat this new supply, prior to distribution to our, customers. The
other agencies receiving water from'Nacimiento may initially take their water via groundwater
recharge and extraction, but will eventually have to construct water treatment facilities.
On June 5, 2007, staff presented a report to the Council outlining the recommended process for
the City to consider whether to opt out of the project should the project costs exceed the $150
million cost threshold. This report provides the project cost information as outlined in the June
5`h report for Council's consideration.
Opt-Out Process
Article 2 (parts (B) (C)) of the Nacimiento Project Water Delivery Entitlement Contract
(Participation Agreement) provides participating agencies with an opportunity to "opt-out" of the
project should the construction costs exceed $150 million. These contract terms provide that
upon receipt of bids equaling no less than 30% of the total estimated project construction costs,
the District is to provide the participating agencies with a summary report of the construction
--- bidsreceived;and=based of those bids,-a-projected-Total-constructioncost=for the project=-=----- ----
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Nacimiento Water Supply Project Cost Summary Report Page 2
From early 2005 to present, the District has been working with the participating agencies to
complete the design of the project. The project was bid in five phases (separate contracts) and
bids have been received for the first four phases. The District has prepared a cost summary
report(s) which, based on the bids received to date provides a refined projection of project cost
for the City and other agencies to consider during the 30 day opt-out period. The most recent
cost summary report is included as attachment 1 to this report.
The District provided the first cost summary report to all participants on July 25, 2007 thus
triggering the 30 day opt-out period. The report has been updated twice as bids for latter phases
of the project continue to be received. Based on the information provided in the report, which
includes actual bid information for four of the five construction phases for the project, the revised
engineer's estimate for total project cost, including design, environmental mitigation,
construction management, and construction is now $178.1 million. This cost is within estimates
provided to Council in our 2007 Water Fund Analysis ($186 million) and is consistent with the
rate projections presented to Council in June 2007, but clearly exceeds the contractual $150
million opt-out figure. Therefore, Council may choose to opt out of the project.
At the time of Council's consideration of this item on August 14, 2007, the District will have
received approximately 76% of the construction bids by value for the project. The remaining bid
item,specification #2, is for pumping systems, tanks and buildings which are.generally easier for
the engineers to estimate. Therefore, there should be a high degree of confidence in the total
estimate provided at this time.
If the City seeks to exercise its ability to opt out of the project, it must do so by August 24, 2007.
A decision to opt out requires that the City provide written notice to the District and all other
participants of that decision. If Council chooses to continue participation in the project, no
affirmative action is required and the opportunity to opt out of the project will simply expire.
The following Table summarizes the information contained in the Cost Summary Report of the
results of the bids for four of five contracts and a revised estimate for specification 2 which will
bid on August 16, 2007. Project cost as listed in this table is for construction activities only and
does not include the engineering, construction management, environmental and other project
related costs.
Nacimiento Water Supply Project Cost Summary Report Page 3
..0
1. Intake facilities (spec. 1) July 16, 13.1 20.8 7.7
2007
2. Pump stations, tanks and SCADA Aug. 16, est. 30.8 est. 30.8 0
(spec. 2) 2007
3. Northern pipeline segment (spec. 3) July 19, 49.8 38.4 (11.4)
2007
4. Central pipeline segment (spec.4) July 26, 27.1 22.0 (5.1)
2007
5. Southern pipeline segment (spec. 5) Aug. 2, 18.2 16.3 (1.9)
2007
TOTAL PROJECT COST** 139.0 128.3 (10.7)
* The bid information provided in this table for Specification #2 is provided as the engineer's estimate since this
component of the project won't bid until August 16, 2007.
CONCURRENCES
On August 3, 2007 a meeting of the project participants and technical committee was convened
to review the information regarding pipeline upsizing (Alternative 1 below). All agencies are in
consensus with the recommended action to accept the base project design without upsizing.
FISCAL IMPACT
Based on the bids received to date and the revised estimate for specification 42, the total project
cost is now placed at $178.1 million.
The 2007 Water Fund Review and Rate analysis provided in-June of 2007 adopted rate increases
of 13 percent in July 2007 and July 2008, and projected "additional rate increases of 12% in 2009,
12% in 2010, and 9% in 2011, with rate increases leveling off to inflationary levels in 2012.
Staff has completed a revised Water Fund Analysis to determine the impact of the revised project
cost on future water rates in San Luis Obispo. Based on that analysis, staff projects that no
change will be required to our already adopted rate increases for 2007 and 2008, and that
projected increases as previously presented to Council will remain adequate to fund this project
and other Water Fund operating and capital program costs.
ALTERNATIVES
1. Alternate Pipe Size - As a component of the construction bids for the project, the contractors
bidding the project were requested to bid an alternate (larger) pipe size that would provide for
reduced pumping costs over time. Based on a comprehensive analysis completed by the
_.--__ _ _.--engineers-for-the-project—_weighing_the: cost_of-the_upsized- ipe_material—_decreased_pump_____--
sizing, reduced energy costs, and redesign cost, it was determined that the project with the
upsized pipe would have a payback period on the capital investment of>10 years. While this
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Nacimiento Water Supply Project Cost Summary Report Page 4
may be a prudent course of action for the long term, there may be concerns that the initial
project cost is already straining our customers' ability to pay, and as such, there may be little
tolerance for added cost where the benefits won't be realized for another 10+ years. This
issue has been discussed among the participants of the project and all agencies concur with
maintaining the pipe size as designed.
2. Decision to Opt-Out — It is clear under our entitlement contract with the District that by
taking no action other than to consider the cost summary as recommended, and thus not
exercising our right to opt out of the project, the City will be going forward with the project..
The alternative to taking no action would be for the City to opt out of project participation at
this time. By doing so, the City would likely lose its last opportunity to develop and
participate in this long term water supply option. Additionally, the City has invested to date
$6.8 million in the design of the project that is not refundable and would be lost. Moreover,
we funded our share of design costs through Bond Anticipation Notes, which will come due
in December 2008. If we go forward with the project, this cost will be included in the long-
term financing. However, if we do not go forward with the project, then we will need to pay
the principal balance of$6.6 million in full in December 2008.
Given the information provided in the fund analysis; the reasonableness of projected water
rates, and the lack of other available options to meet the City's long term water needs as
identified in the General Plan, this altemative is not recommended.
ATTACHMENT
Cost Summary Report
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NWP NACIMIENTO WATER PROJECT
San Luis Obispo County Flood Control&Water Conservation District
'yS
Nacimiento Project Construction Costs
Bid Opening of Spec. 1, 31 4 and 5
Costs In Millions
Revised
Delivery Pre Design Post Design, Estimate with
Entitlement Estimate per Pre-Bid Bids
Participant AFY EIR Estimate" 1, 3,4&5" Variance **"
City of Paso Robles 4,000 $51.3 $65.0 $62.0 $3.0
Templeton CSD 250 $3.7 $5.4 $6.4 $1.0
Atascadero MWC 2,000 $29.5 $37.3 $34.1 $3.2
City of San Luis Obispo 3,380 $64.5 $81.6 $75.0 $6.6
CSA 10A 25 N/A $0.6 $0.6 $0.0
Totall 9,655 $149.0 1 $189.9 $178.1 $11.8
ONote: 1)All figures are rounded to the nearest$100,000.
2)Paricipant costs will include a credit of the$1,026,127 District ad valorem property tax allocation.
3)Variance includes credits as described above, including the construction bid variance shown below
and reimbursements from Monterey County and SLO County ITD.
*Figures based on the 100% Designer's Opinion of Probable Cost Estimate.
**Participant costs will includes the$1,026,127 Districts ad valorem property tax allocation as a credit.
***Revised estimate with bids 1,3,4&5-Post Design, pre-bid estimates=Variance.
Variance Detail - Construction Bids
Costs In Millions
Construction
Pre Bid Bids After 1,3,4
Construction Contract Estimates and 5 Opening Variance
#1 - Intake $13.1 $20.8 $7.7
#2-Facilities $30.8 $30.8 $0.0
#3- Pipeline North $49.8 $38.4 $11.4
#4- Pipeline Central $27.1 $22.0 $5.1
#5-Pipeline South $18.2 $16.3 $1.9
OTotal $139.0 $128.3 $10.7
C:\DOCUME-tUHOLLE-1tLOCALS-1lTomptnotasFFF692\Opt out Summary shoot-attach.xls
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O SAN LUIS OBISPO COUNTY FLOOD CONTROL AND
WATER CONSERVATION DISTRICT
a� NWP NACIMIENTO WATER PROJECT
i,$ S=Lm-Obiapo County Flood Control&Anter Conr ation Dirsna
COST SUMMARY REPORT
BASED ON SPEC 01, 039 048 05 BID OPENINGS
OAUGUST 6, 2007
NACIMIENTO PROJECT CONSTRUCTION COSTS
$1789100,000
Prepared By:
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SLO County Flood Control-and Water Conservation District B&V Project 137522
Nacimiento Water Project August 6, 2007
Cost Summary Report for Spec 01, 03, 04 and 05 Bid Opening
O
Purpose
The Nacimiento Water Project (NWT or Project) will deliver water from Lake Nacimiento to
Project Participants in San Luis Obispo County. San Luis Obispo County Flood Control and
Water Conservation District (District) is the Project Owner. The purpose of this document is to
provide the NWP Participants with an estimate of the expected Nacimiento Project Construction
Cost (NPCC), based on the actual bid results for portions of the Project that are valued in excess
30% of the total cost, in accordance with the Opt-Out terms of the Water Delivery Entitlement
Contract (Contract).
Scope
The estimated NPCC presented herein is based on the actual bid values for Spec 01 Intake, Spec
03 Pipeline North, Spec 04 Pipeline Central, and Spec 05 Pipeline South, and an evaluation of
the Designer's Estimate of Probable Construction Cost for the Project relative to the actual bid
results.
Evaluation of the Project construction cost involved consideration of the following factors:
• Number of bidders for Specs 01, 03, 04 and 05.
Oe Trending of actual bid costs relative to the Designer's opinion of probable construction costs.
■ In the case of Spec 02 Facilities, the bid results received to-date do not lend themselves to
extrapolation to the pump station and tank construction, so that no revisions to the $30.8
million estimate have been made.
Bid package definitions, construction cost estimates, and the July 2007 actual bid amounts for
Specs 01, 03, 04 and 05 are based on the NWP bid documents prepared by Black & Veatch
Corporation, approved by the District, and advertised for bidding in May and June 2007.
Project Overview
The Project is a regional raw water transmission system that will deliver 15,750 acre-feet per
year(AFY) of water from Lake Nacimiento to communities in San Luis Obispo County.
The raw water conveyance system consists of an intake and pump station at Lake Nacimiento,
approximately 45 miles of transmission pipeline ranging in size from 36 to 12-inches in
diameter, three storage tanks, two intermediate pump stations, turnouts, control center,
Supervisory Control and Data Acquisition (SCADA) and project control system, and associated
appurtenant facilities. To facilitate project coordination with multiple Participants, all shared
project facilities (excludes turnouts) have been divided into 15 Units as described in Exhibit A of
the Contract. These Units are further identified in the five Bid Packages of the NWP.
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SLO County Flood Control and Water Conservation District B&V Project 137522
Nacimiento Water Project August 6, 2007
Cost Summary Report for Spec 01, 03, 04 and 05 Bid Opening
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In collaboration with the District, five agencies have confirmed participation in the Project
(Initial Participants): the City of El Paso de Robles (Paso), Atascadero Mutual Water Company
(AMWC), Templeton Community Services District (TCSD), the City of San Luis Obispo (SLO),
and County Service Area 10 Zone A (CSA-l0A).
All five Participants have executed a Water Delivery Entitlement Contract (Contract) with the
District to receive a portion of the NWP water supply. This document summarizes the
information required such that each Participant may consider its continued participation in the
Project in accordance with the Contract.
Delivery Entitlement Contract - Selected Terms and Conditions
The Nacimiento Water Project Delivery Entitlement Contract is a complex and detailed
document that defines the basis under which the District will execute the Project and deliver
water from Lake Nacimiento to the Participants. The Contract also defines the expected cost of
the Project and provides for a means under which a Participant may withdraw from the Project,
or Opt-out, if actual total project costs are estimated to exceed the planned budget. Key
paragraphs from the Contract that define Opt-out terms and conditions are found in Articles 1
and of the Contract as follows:
Article 1,Definitions. The definition of the Opt-out Date is provided in Article 1 as follows:
O "Opt-out Date shall mean the date following the Effective Date upon which the Participant may
elect to opt out of the Construction Phase of the Nacimiento Project and cease to accrue
obligations under this Contract, as further described in Article 2(B)."
Article 2 (B), Implementation of Design Phase and Construction Bidding. Article 2 provides
further guidance regarding the manner in which the District may proceed with the construction of
the Project as follows:
"The parties hereto acknowledge that the total Nacimiento Project Construction Costs are
estimated to be $150,000,000 as of the Effective Date; the parties hereto further acknowledge
that the actual total costs of construction of the Nacimiento Project will be determined through a
competitive bid process applicable to the District at the conclusion of the Design Phase
(collectively, the "Construction Bids'). The District covenants and agrees to provide All
Participants with a summary report of the Construction Bids, not less than two (2) Business
Days following the date upon which the last of such bids is received. In the event that the
District finds it necessary or advisable to divide the Construction Phase into two or more
subphases, it shall provide a summary report to All Participants of those Construction Bids it
deems sufficient to begin the Nacimiento Project (which shall include Construction Bids on no
less than thirty percent (30%) of the total estimated Nacimiento Project Construction Costs) and
a sound estimate (which shall then be current and shall be based, as appropriate, on
construction bids received) of total Nacimiento Project Costs, and shall so state and so estimate
O in its report to All Participants. The thirtieth (30`h) calendar day following the date upon which
such report is received by the Participant is referred to as the "Opt-out Date. " "
SLO County Flood Controi and Water Conservation District B&V Project 137522
Nacimiento Water Project August 6, 2007
Cost Summary Report for Spec 01, 03, 04 and 05 Bid Opening
O
Article 2(C), Termination of Participation in Nacimiento Facilities by Participant after
Effective Date. Article 2 (C) provides guidance on the manner in which a Participant may Opt-
out from the project as follows:
"Subject to the provisions of subparagraph (A) above, the Participant may withdraw from this
Contract (and any Other Participant may withdraw from any Like-Contract) following the
Effective Date and on or prior to the Opt-out Date, but only if the total Nacimiento Project
Construction Costs shall exceed the figure given in paragraph (B) above. In order to withdraw
from participation hereunder, the Participant shall provide written notice to the District and to
each Other Participant that it elects to opt out of the Construction Phase."
Summary of Opt-Out Considerations. The Contract language provides a concise basis for the
District to proceed with the design and construction of the project, but also provides each
Participant with a means to opt-out if the estimated Project costs become too large. Key findings
from the Contract are summarized as follows; the terms of these provisions are presented in
Article 2 of the Contract:
1. The estimated total Project Cost was estimated to be $150,000,000 as of the date that all
initial Participant Contracts were signed.
2. The estimated total Project Cost includes all costs of constructing the Project including
O design, engineering, planning, environmental mitigation, equipping new facilities and/or
construction efforts, accounting services, project administration and management,
installation, grading, and razing and building the Project.
3. The Contract recognizes that the actual total costs of construction for the Project will be
determined through a competitive bid process.
4. If the total Project costs, as determined by the competitive bid process, exceed
$150,000,000, each Participant has the opportunity to withdraw, or opt-out, from the
Project.
5. The District is required to provide the Participants with a summary report based on the
actual construction bid results. The summary report must have as a basis actual bids for
not less than thirty percent (30%) of the total Project construction cost.
6. The District is to provide the Participants with a summary report not less than two (2)
business days following the date upon which the last bid is received.
7. A revised Project cost estimate will be prepared based on the actual bids received. This
revised estimate shall be included in the summary report and will state the District's best
estimate of the total Project cost.
8. The thirtieth (30`h) calendar day following the date upon the summary report is received
by the Participant is referred to as the Opt-out Date.
9. To withdraw, the Participant shall provide written notice to the District and to each other
Participant that it elects to opt out of the construction phase of the Project.
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SLO County Flood Control and Water Conservation District B&V Project 137522
Nacimiento Water Project August 6, 2007
Cost Summary Report for Spec 01, 03, 04 and 05 Bid Opening
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10. The District shall not award any construction contracts for the Project until the District
has consulted with All Participants as to whether to proceed with the Project.
11. The District is not allowed to award construction contracts nor assume long-term Project
debt prior to the Opt-Out date.
Bid Package Summary
The facilities for the Project have been divided into the five (bid) specification packages as
follows:
• Spec 1 - Intake
■ Spec 2—Facilities (Pump Stations, Tanks, and Appurtenant Works)
■ Spec 3 - Pipeline North
■ Spec 4- Pipeline Central
• Spec 5 - Pipeline South
Table 1 summarizes the construction requirements and Bid Open dates for each specification
package. The bid open date is the date upon which all proposals for the particular specification
package shall have been received.
O Table 1
Bid Package Descriptions
Spec Advertise Bid Open
No. Contract Name Summary of Work Date Date
Intake shaft (approx. 20 ft dia.), microtunneled intake May 22, July 16,
1 Intake tunnel (approx. 48 in dia.), and underwater multi-port 2007 2007
sloping intake with screens.
Intake pump station (IPS)with five 700 horsepower
(hp)vertical pumps, building and all appurtenances; 2
2 Facilities intermediate pump stations, project SCADA system, June 12, August 16,
three welded steel storage tanks; Camp Roberts 2007 2007
Tank and Rocky Canyon Tank, each 850,000 gals,
and Cuesta Tunnel Tank, 300,000 gals.
3 Pipeline North 23 miles of 36-and 30-in. diameter pipe from Lake May 22, July 19,
Nacimiento to the Paso Robles Turnout. 2007 2007
4 Pipeline Central 10 miles of 24-and 18-in. diameter pipe from the May 22, July 26,
Paso Robles Turnout to the Rocky Canyon Site. 2007 2007
5 Pipeline South 12 miles of 18-and 12-in. diameter pipe from the May 22, August 2,
Rocky Canyon Site to the San Luis Obispo Turnout. 2007 2007
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SLO County Flood Controi and Water Conservation District B&V Project 137522
Nacimiento Water Project August 6, 2007
Cost Summary Report for Spec 01, 03, 04 and 05 Bid Opening
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Project Cost Estimate
The original estimated total project costs are identified in the Contract as $150,000,000. During
design, the NPCC was evaluated periodically and updates of the NPCC were provided to the
District and to the Participants. These updates have documented the opinion that the NPCC has
increased above the amount in the Contract. Table 2 summarizes the initial and post-design cost
estimates for the Project.
Table 2
NPCC Estimate Summary
Initial Cost Final Cost
Description Estimate August Estimate
2006 May 2007
Project Management $1,875,000 $2,033,000
Environmental $899,667 $1,310,000
PG&E Service Extension $1,100,000 $300,000
Right of Way $635,000 $665,000
cr Property Acquisition $2,500,000 $2,500,000
o Constructability Review $2,000,000 $735,000
O c Engineering Design $9,088,800 $8,988,800
Finance $115,000 $85,000
Design Phase Budget Reserve $686,533 $2,333,200
New Participant Contribution $0 ($50,000)
SUBTOTAL $18,900,000 $18,900,000
_ Environmental Mitigation $3,720,000 $4,500,000
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m Environmental Monitoring $1,800,000 $1,800,000
c E
uu SUBTOTAL $5,520,000 $6,300,000
Project Management $2,712,500 $3,950,000
c
m Materials Testing $300,000 $300,000
m E
c Construction Management $4,185,000 $5,750,000
40
CL M Post-Designer Services $0 $3,200,000
SUBTOTAL $7,197,500 $13,200,000
C Construction Contracts $93,000,000 $139,300,000
0
District Controlled Contingency $23,838,500 $10,700,000
Cuesta Tunnel $1,031,000 $1,031,000
0
V SUBTOTAL $117,869,500 $151,031,000
io ;? Advance Expenditures $513,000 $513,000
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v SUBTOTAL $513,000 $513,000
OTOTAL $150,000,000 $18919441000
SLO County Flood Controrand Water Conservation District B&V Project 137522
Nacimiento Water Project August 6, 2007
Cost Summary Report for Spec 01, 03, 04 and 05 Bid Opening
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Construction Bids for Specs 01, 03, 04 and 05
Bids have been received to-date for the specification packages, with the apparent low bidder
amounts as summarized below:
■ Spec 01: $20,813,600
• Spec 03: $38,355,000
■ Spec 04 $21,983,000
■ Spec 05 $16,332,594
Subtotal $97,4849594
The bids received to-date result in known total construction costs of $97.5 million which
represents about76 percent of the estimated total construction cost for the Project. This amount
exceeds the minimum requirements of the Contract and therefore provides a valid basis upon
which to prepare this Cost Summary Report. In accordance with Article 2 (B) of the Contract,
the received bid amounts were used to produce the updated NPCC. Other Project costs not
Oincluded in the five specifications packages have also been reviewed and updated, as appropriate.
Table 3 attached provides the Project Cost Summary by Unit designation.
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SLO County Flood Control—and Water Conservation District B&V Project 137522
Nacimiento Water Project August 6, 2007
Cost Summary Report for Spec 01, 03, 04 and 05 Bid Opening
0
Participant Project Cost Obligations
A Cost Allocation Model (Model) was developed for the Project. Periodically, the Model has
been utilized to evaluate and present to each Participant the cost impact of alternative pipeline
and facility designs, and also the addition of potential new Project Participants. The model uses
the definitions of flow and cost shares in accordance with the Participants' Contract, to evaluate
both the total project cost and the annual cost share for each Participant.
The actual construction bids were input into the Model and UBS provided financing estimates,
Appendix B, to assess the actual financial implications for each Participant. Table 4 attached
presents these results.
Further details regarding the allocation of project costs and construction of the Cost Allocation
Model are included in the Preliminary Design Report(PDR).
Alternative Pipeline Bids
Pipeline Upsizing Considerations
O Black & Veatch prepared the bidding documents to obtain alternative bids for the next six-inch
larger pipe diameter. The base pipeline diameter that forms the base-bid for each pipeline bid
package is based on a theoretical computation performed by Black & Veatch during the
preliminary design to balance the pumping requirements and pipeline diameter, known as the
pipe size optimization analysis. A larger pipe diameter results in less pumping power to move
the water, and the larger pipe is also more expensive to buy and install. The balance is selecting
a pipe diameter so that the pipeline cost and the energy cost to pump the water is a minimum
over a period of time known as the evaluation period. The evaluation period used by Black &
Veatch is 30 years, coinciding with the long-term debt financing.
The Nacimiento Water Project requires three pumping plants to move the water from Lake
Nacimiento to the City of San Luis Obispo. The pipeline reaches were divided into three main
groups. Each group, if upsized, would have certain costs for revising the design documents, and
certain benefits from the reduced pumping requirements. Another benefit is monies paid by
PG&E for their "Savings by Design" program. The difference in these costs and benefits
indicate the potential investment to upsize the pipeline, or said another way, if the cost to upsize
the pipe as presented by the alternative bids is less than the savings, then the investment is
judged to be beneficial; otherwise, the investment is judged to be unbeneficial.
Some of these costs are one-time costs in the first year, and some are realized annually. To
normalize these costs, a time-value analysis was performed using the following parameters.
O
SLO County Flood Control and Water Conservation District B&V Project 137522
Nacimiento Water Project August 6, 2007
Cost Summary Report for Spec 01, 03, 04 and 05 Bid Opening
0
■ Short-term evaluation period= 5 years simplified
• Long-term evaluation period = 30 years compounded
■ Net present value discount rate= 3.5-percent
■ Escalation rate for energy cost=3.0-percent
Table 5 presents the net savings associated with the pipeline upsizing, and the additional costs
identified in the construction bid for the apparent low bidder. The results are summarized below:
• Group I (Units A, Al): The added cost for installing 6-inch larger pipe is still to be
determined; the final cost for pipeline upsizing was not submitted by Teichert Construction
in time for the publication of this cost summary report. Expectations are that the pipeline
upsizing cost for Units A & A1, not including the Nacimiento River Crossing, will be in the
range of $2.0 to $2.5 million. Upsizing could be considered `Beneficial" if Teichert
Construction's alternative pipe bid is less than the estimated benefit of$3.3 million (30-Year
NPV); otherwise, the upsizing would be considered"Unbeneficial".
• Group 1 (Units C, C 1): Assuming that the North Salinas River Crossing would be left at 30-
inch diameter, the added cost for installing 6-inch larger pipe is $1.3 million, which exceeds
the estimated benefit of$1.1 million(30-Year NPV).
■ Group 2 (Units D, E, F): Assuming that the Middle Salinas River Crossing would be left at
0 24-inch diameter, the added cost for installing 6-inch larger pipe is $3.7 million, which
exceeds the estimated benefit of$1.8 million (30-Year NPV).
■ Group 3 (Units G, G1): The added cost for installing 6-inch larger pipe is $2.1 million,
which exceeds the estimated benefit of$1.1 million (30-Year NPV).
The TSG established a policy that unanimous support for upsizing the pipeline must be received
from all of the Participant's TSG members before moving forward to recommend the upsizing to
each Participant's governing authorities. The TSG met on August 3, 2007, to discuss the results
of the pipeline upsizing analysis. Units C and C1 of Group 1, and Groups 2 and 3 are considered
unbeneficial and are not considered further. Units A and Al of Group I are potentially
beneficial, and this will be verified by Black & Veatch when the Unit A and Al pipe upsizing
costs are submitted by Teichert Construction. Nonetheless, the TSG vote at the August 3, 2007,
meeting for pipeline upsizing was not unanimous; therefore, no upsizing of the pipeline diameter
will be implemented for the Project.
O
10
SLO County Flood Control and Water Conservation District B&V Project 137522
Nacimiento Water Project August 6, 2007
Cost Summary Report for Spec 01, 03, 04 and 05 Bid Opening
O
Designer's Recommendations
The design of the Project was completed and the Project was advertised for competitive bids in
accordance with District requirements. Bids have now been opened and construction costs are
known for Specs 1, 3, 4 and 5. Based on the bids received, the updated NPCC is estimated to be
$178.1 million.
Although the NPCC has increased above the $150 million amount identified in the Contract, the
bids that have been received are competitive and reflective of the increased cost for major project
construction in the current market place. Black & Veatch believes the bids received are
reasonable for the work to be performed and recommends that the Nacimiento Water Project
proceed into construction.
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SLO County Flood Controi and Water Conservation District -- B&V Project 137522
Nacimiento Water Project August 6, 2007
Cost Summary Report for Spec 01, 03, 04 and 05 Bid Opening
O
Appendix A - Bid Tabulation Summary Reports
➢ County Record of Bid Openings - Spec 01, 03, 04 and 05
➢ Bid Tab for Spec 01 - Intake
➢ Bid Tab for Spec 03 - Pipeline North
➢ Bid Tab for Spec 04—Pipeline Central
➢ Bid Tab for Spec 05 —Pipeline South
Appendix B — UBS Memo - Estimated Financing Results
Appendix C — Cost Allocation Model Results
C-1 Summary Report (later)
C-2 B&V Cost Report (later)
C-3 Reserve Capacity Calculation (later)
OC-4 Distribution of Design Phase Costs by Unit (JRH Memo) (later)
C-5 Memo to File — Model Assumptions (later)
O
O
Appendix A — Bid Tabulation Summary Reports
County Record of Bid Openings - Spec 01, 03, 04 and 05
Bid Tab for Spec 1 - Intake
0 Bid Tab for Spec 3 - Pipeline North
Bid Tab for Spec 04 — Pipeline Central
Bid Tab for Spec 05 — Pipeline South
0
Cg -2�
Contract Number: 300187.08.01 County Estimate: ' l 3, f AAL
Addendum Bid Guarantee
Name &Address of Bidder Amount of Bid List#
Acknowledged Bond Cheek Crib
F2. JAMES
ARD CONSTRUCTION CO. INC.X 99
x
MAN, MT 59771-099Z�, ZnQ, S�W. FOWLER CO.WESTVIEW DRIVE 00
DALLAS, OR 97338 mol 13150 /Loco
3. KIEWIT PACIFIC CO.
5000 MARSH DRIVE �*vq voD-�
CONCORD, CA 94520
4.
s.
s
6.
7.
8.
ALTERNATES
Bidder 1. 2. 13. 14. 5. 16.
1.
2.
3.
4.
5.
6.
7.
8.
Bids ened by Annette Ramirez Clerk of the oard, in the presence c
Public Works Depufi
Co my Counsel; and Witness. Referred to Public Works fo
CD� -e1DA
checking and to report to the Board of Supervisors on August 28. 2007
Contract Number: 300187.08.03 Cour*v Estimate: VNIZO
Addendum Bid Guarantee
Name & Address of Bidder Amount of Bid List#
Acknowledged Bond Check Cash
1. Diablo Contractors, Inc.
7 Crow Canyon Court, Ste 100 51 ',3 r t o = 3 X
San Ramon, CA 94583
2. ARB, Inc.
26000 Connercentre Drive *-7,V/
Lake Forest, CA 92630
3. Mountain Cascade Inc.
Po Box 5050 X40 1)Zt 2.L p�
Livermore, CA 94551
4. S.J. Louis Construction, Inc. ca
3032 County Road 138 �� -7,0,p, t700— 3 x
Waite Park, MN 56387
5. Ranger Pipelines, Inc.
Po Box 24109 �Z� 9 j -7 C+ 3
San Francisco, CA 94124
6. Papich Construction, Inc.
Po Box 2210 ,¢
Pismo Beach, 93448
7. Don Kelly Construction
6861 N. Oracle Road *43, le-11) 1 i5'2=° 3 x
Tucson, AZ 85704
8. ERS Constructors �t
15427 E. Fremont Drive
Centennial, CO 80112 tet' !
ALTERNATES
rBidder 1. 2. 3. 4. 5. 6.
1.
2.
3.
4.
5.
6.
7.
8.
Bids opened by Annette Ramirez Clerk of the Board, in the presence c
Public Works; .,, Depui
Cou ty Counsel; and �. Witness. Referred to Publi
a -ate
Works for checking an o report to the Board of Supervisors on August 28. 200,
Contract Number: 300187.08.03, Coun*v Estimate:
Addendum Bid Guarardee
Name & Address of Bidder Amount of Bid ust#
Acknowledged Bond Cnedc teen
9. Teichert Construction
8589 Thys Court
Sacramento, CA 95828
ALTERNATES
Bidder 17., 18. s. 110.. 111. U.
9
Bids opened by 8flnette Ramirez Clerk of the Board, in the presence <
JL44��,oO�-Public Works; B Depui
Cunty 4Counsel; and Witness. Referred to Publi
a -a.3
Works for checking and to report to the Board of Supervisors on August 28. 200
Contract Number: 300187.08.04 Coun*-,,Estimate:
Addendum Bid Guarantee
Name & Address of Bidder .A.mount of'Bid List#
AdmCwledged Bond Check Cash
S.J. LOUIS CONSTRUCTIONS, INC.
3032 COUNTY ROAD 138/ PO BOX 399
WAITE PARK, MN 56387-0399
2 SOUTHERN CALIFORNIA PIPELINE
15991 REDHILL AVENUE, SUITE #200 Z�Jj�(� s -73
TUSTIN, CA 92780
3 ICH CONSTRUCTION, INC.
PO
2
PISMO BEACH, CA 938
44
4 VIDO ARTUKOVICH & SON,
INCMDMAR, INC. " �y
11155 RUSH STREET
SO: EL MONTE, CA 91733
5 WHITAKER CONTRACTORS
2752 CONCRETE COURT Z-,7 4P 9-7 100' `
PASO ROBLES, CA 93446
6 DIABLO CONTRACTORS, INC. 00
7 CROW CANYON COURT, STE 100 ' 17 8400-- aj x
SAN RAMON;CA 94583
T TEICHERT CONSTRUCTION
8589 THYS COURTZL�
SACRAMENTO, CA 95828
MOUNTAIN CASCADE INC.
PO BOX 5050
LIVERMORE, CA 94551-0050
ALTERNATES
Bidder 11 4. .5. 6.
1
2
3
4
5
s
T
8
Bids O-Deftd by Annotte Ramirez Clerk of the o rd, in the presence c
o Depul
Coun Counsel; and Witness. Referred to Publ!%`Wp lis ft
checking and to report a Boar Supervisors on August 28, 001
Oriainal bids attached to Public Works coov of Summary and delivered this date of Julv 2(
Contract Number. 300187.08.04 Coun+v Estimate: ?$,
- TA
dendum Bid Guarantee
Name & Address of Bidder Amount of BidList#
mowledged Bond Cheek Cash
it 9• SPECIALTY CONSTRUCTION, INC. v`
645 CLARION COURT 02,73,41& 3 x
SAN LUIS OBISPO, CA 93401
1
11
1
1
1
1
1
ALTERNATES
Name of Bidder 11. 1 2. 13. 14. S. s.
9
10
11
12
13
14
15
16
Bi ened by Annette Ramirez Clerk of the Bard, i the presence
ublicw Depu
o xty Counsel; anditness. Referred to Public Works fi
checking and to report to the Boc Supei iq rs August 28, 2007, Original bids attache
to Public Works copy of Summary and delivered this date of July 26, 2007.
Contract Number: 300187.08.05 County Fstimate: $ 18, 200,000
Aadendum
Bid Guarantee
Name:&Address of Bidder Amount of Bid
List#
Acknowledged Bond Check Cash
'OUTHERN CALIFORNIA PIPELINE
991 RED HILL AVENUE SUITE #200 40 03
TUSTIN, CA 92780
2 TEICHERT CONSTRUCTION
8589 THYS COURT 2319? it Z-70 =°
SACRAMENTO, CA 95828
3 ARB, INC.
26000 COMMERCENTRE DRIVE Z�! �$! 7�
LAKE FOREST, CA 92630
4 SPECIALTY CONSTRUCTION, INC.
645 CLARION COURT
SAN LUIS OBISPO, CA 93401
5 PAPICH CONSTRUCTION, INC.
PO BOX 2210
PISMO BEACH, CA 93448
6 JOHN 0 BOX 5300 NA CONSTRUCTION, INC.
SAN LUIS OBISPO, CA 93405
T MOUNTAIN CASCADE INC.
PO BOX 5050 q
LIVERMORE, CA 94551
ALTERNATES
Bidder - 1 2 3. 4. 5.. 6.
1
2
3
4
5
6
7
8
Bids pened by Annette Ramirez Clerk of th� rd, in the presence of
��`` � ���� Public Works; 0�-- Deputy
ty Counsel; and yPy�yho�c�l ,�, Witness. Referred to Public Works for
checking and to report to the Board of Supervisors on August 28, 2007.
Original bids attached to Public Works copy of Summary and delivered this date of August 2,
9_D_(
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Appendix B — UBS Memo —
Estimated Financing Results
0 -33
e�.1� UBS Investment i
�j�1 Bank
Page 1
OAugust 3, 2007
To: Will Clemens, SLO County Flood Control District
Wendy Hall, SLO County Flood Control District
John Hollenbeck, SLO County Flood Control District
cc: John Bonow, Public Financial Management
Roan Blacker, Public Financial Management
Brad Jacobsmeyer, Public Financial Management
From: Jeff Bower
Frank Lauterbur
Bruce Huang
Pages: 3
Subject: Updated Estimated Financing Results for
Nacimiento 2007 Bonds
As requested by the County and the financing Participants in the Nacimiento Water Project, UBS has
updated its sizing estimates on the following total capital costs to be financed (based on costs
estimates as of August 3rd). The construction costs estimates are results as of bid spec package#5.
Q df@ZWOMMMOD 5tt•N00=0
Cox i [)3@U911339 0EW
City of Paso Robles $7,846,339 $53,706,823 $61,553,162
O Templeton Community Services District 490,385 5,919,087 6,409,472
Atascadero Mutual Water Company 3,923,075 29,957,499 33,880,574
City of San Luis Obispo 6,630,201 1 67,485,707 1 74,115,908
County Service Area-10A - I -
Total $ 18,890,000 1 $157,069,115 1 $175,959,115
Amount to be financed excludes costs related to Cuesta Tunnel. Results as of after bid spec package 5. Only includes
amounts for bond financing
For purposes of the numerical analyses described here, we have again followed the same
assumption parameters but have updated the total amount to be financed (based on the table
above). As further clarification on Key Assumptions memo that was previously provided, we have
used the following parameters in our sizing analyses:
1. The portion of the 2007A bonds which pertains to the refinancing of the SLO Bond
Anticipation Notes ("BANs") cannot have capitalized interest—unlike the new money money
proceeds; and
2. The reserve requirement for the tax-exempt bonds are cash funded with bond proceeds; the
taxable bonds (i.e. portion related to Atascadero Mutual Water Company)will utilize a surety
to satisfy its reserve requirement.
For our "Base Case" scenario, we again have made a conservative assumption of current market
rates increased by 30 bps in both coupon and yield. The Base Case scenario also makes the
assumption that all participants utilize 100% Capitalized Interest ("CAP[") to provide additional time
for each participants' rate increases to ramp up before paying debt service. As a starting point, the
CAPI is assumed to be funded through December 1, 2010. A summary of the results are provided
on the next page:
f 34
UBS
Investment t 1
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Page 2
OBase Case Scenario—Current Market+30 bps; W/CAPI
@S1112Wr ••
City of Paso Robles $74,058,960 $- $4,512,000 5.148%
Templeton Comm. Services Dist. 7,685,738 467,000 5.148%
Atascadero Mutual Water Comp. 38,960,000 - 2,875,000 6.437%
City of San Luis Obispo 87,167,256 341,750 5,333,000 5.148%
County Service Area-10A - - - 5.148%
Total $207,871,953
(1)Assumes reimbursement costs are paid at time of Closing. For the capitalized interest and project funds,the proceeds are net funded.
Gross proceeds of the project fund will be equal to amounts as provided in the prior table based on an assumed construction fund draw
schedule(i.e.38 level payments). Also includes debt service reserve requirement and costs of issuance.
(2)All other participants are assumed to utilize 100%CAPI during construction.
As a variation to the Base Case, Scenario 2 also assumes current market interest rates plus 30 bps
but assumes each participant does not use any CAPI. A summary of the results are provided below:
Scenario 2—Current Market+30 bps; No CAN
. G=M@= afflaAlm
@.yam Pam @95t
City of Paso Robles $63,015,713 $2,989,000 $3,840,000 5.148%°
Templeton Comm. Services Dist. 6,533,488 310,000 398,000 5.148%
Atascadero Mutual Water Comp. 32,315,000 1 2,008,500 1 2,384,000 1 6.437%
City of San Luis Obispo 75,174,484 3,587,218 4,603,000 5.148%
C\ County Service Area-10A - - - 5.147%
J Total $177,038,684
(1)Assumes reimbursement costs are paid at time of Closing. For the capitalized interest and project funds,the proceeds are net funded.
Gross proceeds of the project fund will be equal to amounts as provided in the prior table based on an assumed construction fund draw
schedule(i.e.36 level payments). Also includes debt service reserve requirement and costs of issuance.
(2)Assumes no capitalized interest for all participants.
To quantify the "cushion" of adding 30 bps to current market levels, we also have performed a
Scenario 3 which essentially is identical to the Base Case Scenario, but excluding the 30 bps
cushion. The assumptions otherwise are the same as the Base Case Scenario in that all
participants, with the exception of CSA-10A, utilize CAPI during the construction period.
Scenario 3—Current Market; W/CAPI
° . LUESWUM
FOOEUM
..
City of Paso Robles $73,429,380 $- $4,337,000 4.843%
Templeton Comm. Services Dist. 7,617,676 0 450,000 4.843%
Atascadero Mutual Water Comp. 38,745,000 0 2,768,000 6.128%
City of San Luis Obispo 86,546,392 322,880 5,130,000 4.843%
County Service Area- 10A - - - 4.843%
Total $206,338,448
(1)Assumes reimbursement costs are paid at time of Closing. For the capitalized interest and project funds,the proceeds are net funded.
Gross proceeds of the project fund will be equal to amounts as provided in the prior table based on an assumed construction fund draw
schedule(i.e.38 level payments). Also includes debt service reserve requirement and costs of issuance.
(2)All other participants are assumed to utilize 100%CAPI during construction.
UBSInves
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Page 3
O In comparison to the Base Case Scenario, we compare Scenario 3's average net debt service after
the construction period below to provide an indication of 30 bps in dollar figures.
..
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City of Paso Robles $4,512,000 $4,337,000 $175,b00
Templeton Comm. Services Dist. 467,000 450,000 $17,000
Atascadero Mutual Water Comp. 2,875,000 2,768,000 $107,000
City of San Luis Obispo 5,333,000 5,130,000 $203,000
$
County Service Area- 10A 0
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����Il��l���������iiii►Il;�lllllu COUNCIL MEMORANDUM
August 7, 2007 ERE E D
To: Mayor Dave Romero and City Council LERK
From: John Moss, Utilities Director
Via: Ken Hampian, City Administrative Officer RED FILE
MEETING AGENDA
Subject: Nacimiento Project Cost Summary Report DATE F Jd °7ITEM # ys• 2
The attachment for your August 14, 2007 Nacimiento Pipeline Project staff report is late in
coming from the County and their engineers. The attachment is the "Cost summary Report" for
the Nacimiento project. As soon as I receive the report from the County I will have copies made
and will forward that report to you. I am sorry for the delay. You should have the attachment
report no later than Thursday August 9, 2007. If you have any questions, please call me at x205.
John p �a G
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