Florida Polytechnic University RFSOQ 2013-001 for Development of Residential Housing Response
Proposer Name:
Vestcor Communities, Inc.
Table of Contents Florida Polytechnic University RFSOQ Response
Tab 1 - Transmittal Letter Exhibit A - Proposer Summary Sheet Tab 2 - Financial Information Tab 3 - Corporate Qualifications Tab 4 - Experience and Past Performance Exhibit B - Proposer Experience References Tab 5 - Personnel Qualifications Tab 6 - Project Approach Tab 7 - Business Terms
TAB 1 – TRANSMITTAL LETTER
The Vestcor Companies 3030 Hartley Road Suite 310 Jacksonville, Florida, 32257 T 904-260-3030 F 904-260-9031
Mr. John T. Gray Director of Special Projects Florida Polytechnic University 439 S. Florida Avenue, Suite 300 Lakeland, Florida 33801
Dear Mr. Gray,
On behalf of our entire team, Vestcor Communities is pleased to submit our response to the Request for Statement of Qualifications for Development of Residential Housing (RFSOQ 2013- 001). We are proud to provide a proposed solution to the housing needs at the University in these early stages of its development when support is so critical. We are excited about the impressive team we have assembled and the opportunity to develop and operate the inaugural residential housing facility on the campus of Florida Polytechnic University.
Our team of Vestcor Communities, Inc., Skanska USA, Ambling Management Company and PQH Group provides the University with a collective group of experience in student housing development that will result in the on-time delivery of a first-class student housing facility that we will all be proud of.
Should we be selected, we will embrace this opportunity to be a partner in what will be a successful institution of higher learning.
Sincerely,
William L. Morgan President Vestcor Communities, Inc.
www.vestcor.com
Page 1 of 74
EXHIBIT A – PROPOSER SUMMARY SHEET
Exhibit A – Proposer Summary Sheet
Proposer Name: Vestcor Communities, Inc.
Proposer Address: 3030 Hartley Road, Suite 310 Jacksonville, FL 32257
Proposer FEIN: 56-2312405
Proposer DUNS Number: 80-685-2526
Proposer Contact (for purposes of this RFSOQ): Will Morgan, President Vestcor Communities, Inc. 3030 Hartley Road, Suite 310 Jacksonville, FL 32257 Phone: 904-288-7810 Mobile: 904-333-1652 Fax: 904-260-9031 [email protected]
Proposer Team Members (if applicable) (financing, design, construction, operation):
1. Vestcor Communities, Inc. Developer Will Morgan, President 3030 Hartley Road, Suite 310 Jacksonville, FL 32257 Phone: 904-288-7810 Mobile: 904-333-1652 Fax: 904-260-9031 [email protected]
2. PQH Group Architect – Design and Build Services Ricardo E. Quinones, AIA, LEED, AP BD+C 4141 Southpoint Drive East Jacksonville, FL 32216 Phone: 904-224-0001 Mobile: 904-635-1240 Fax: 904-224-0023 [email protected]
Page 2 of 74
3. Skanska USA General Contractor Matthew Gilbert, Senior Vice President 511 Grove Park Dr. Orlando, FL 32801 Phone: 407-428-0114 Mobile: 407-873-1121 [email protected]
4. Ambling Management Company/Ambling Student Housing Property Manager Kimberly A. Barkwell, President 110 Ministry Drive, Suite D Irmo, SC 29063 Phone: 866-777-7228 Fax: 229-219-6701 [email protected]
Page 3 of 74
TAB 2 – FINANCIAL INFORMATION
Financial Information
Over the past 30 years, The Vestcor Companies (Vestcor), or affiliates of Vestcor, have procured and participated in excess of $200,000,000 of equity used to acquire, renovate, develop and operate multifamily communities. Throughout this period, Vestcor has built strong relationships with financial institutions and individuals who have invested in these communities. These relationships have enabled Vestcor to raise private funds necessary to develop the residence hall at Florida Polytechnic University.
Attached are the audited financial statements of Vestcor Communities, Inc. (VCI), the Proposer for this RFSOQ. VCI is the student housing development entity for Vestcor. VCI earns development fees during the development process and earns asset management fees during operation of the community. Vestcor also has several other entities, like VCI, that are involved in development, brokerage, and management in other real estate areas. All apartment communities developed by VCI and other Vestcor affiliates are owned in individual limited partnerships. There are currently twenty-five such partnerships, and an affiliate of Vestcor controls and has a significant financial interest in these partnerships. While VCI and other Vestcor affiliated entities similar to VCI are expected to generate a positive cash flow, all of the value and cash flow of the apartment communities for Vestcor is in the limited partnerships. It is not the regular practice of Vestcor to combine the balance sheets, operations, and cash flows of all the Vestcor related entities with footnotes and due to the time constraints of the RFSOQ, we were not able to provide this combination. However, a summary of the estimated fair market value of the assets and equity, revenue, net operating income, and cash flow of the twenty-five affiliated partnerships that own the apartment communities is as follows:
Fair Market Value of Assets: $325,000,000 Equity: $52,000,000 Revenue: $44,000,000 Net Operating Income: $20,000,000 Cash Flow: $6,000,000
Page 4 of 74 Page 5 of 74 Page 6 of 74 Page 7 of 74 Page 8 of 74 Page 9 of 74 Page 10 of 74 Page 11 of 74 Page 12 of 74 Page 13 of 74 Page 14 of 74 The Vestcor Companies 3030 Hartley Road Suite 310 Jacksonville, Florida, 32257 T 904-260-3030
F 904-260-9031
October 4, 2013
Mr. John T. Gray Director of Special Projects Florida Polytechnic University 439 S. Florida Avenue, Suite 300 Lakeland, Florida 33801
Financial Certification
Dear Mr. Grey,
I, William L. Morgan, as President of Vestcor Communities, Inc., certify that this Statement of Financial Capability, including all attachments, is true and correct to the best of my (our) knowledge and belief. The Florida Polytechnic University is authorized to verify any information contained herein.
Sincerely,
William L. Morgan President and Secretary Vestcor Communities, Inc.
www.vestcor.com
Page 15 of 74
TAB 3 – CORPORATE QUALIFICATIONS
Corporate Qualifications
Founded in 1983, The Vestcor Companies (Vestcor) is one of Florida’s largest owner/developers of multifamily communities. Drawing on over 30 years of real-estate development experience, Vestcor continues to be a leader in the areas of multifamily investment, development, and management services. Throughout its history, Vestcor has developed and constructed more than 11,000 multifamily rental units and 100,000 square feet of commercial space. The company’s real-estate developments have spanned the market demographic, including affordable tax-credit and conventional apartments, historic renovations, luxury high rise and affordable condominiums, and purpose-built student housing communities.
Most recently, Vestcor Communities, an affiliate of The Vestcor Companies, has leveraged Vestor’s multifamily experience in the design, development, and asset management of purpose- built student housing communities. The design of these communities allows us to deliver a very cost effective floorplan that is spacious yet efficient while still offering the most well-amenitized product in the market. Each product developed has received a tremendous reception in each respective market and continues to be operated as a best-in-class property.
For this proposal, we have teamed with several key business partners, each of which brings a long history of proven success in the multifamily student housing industry, including a prior track record of working together to deliver successful projects on time and within budget. Our development team members include PQH Group (Architect) and Skanska USA (General Contractor). Working collectively to provide a cohesive blend of creativity, problem solving and practicality, our development team will deliver this project on time. We have partnered with Ambling Management Company to provide property management services.
Page 16 of 74 PQH Group Corporate Headquarters Jacksonville, Florida At PQH, we strive to create exceptional environments, exceed our client’s goals and enhance the user’s quality of life.
Everyday experiences in our evolving society serve as our source of inspiration for design. Our staff draws from this collective experience, keeping our ideas fresh and innovative. After over twenty seven years of practice, we understand the extraordinary level of responsibility each one of our projects holds; that long after completed, it continues to serve our client’s ever changing needs. Fast Facts... •Established in 1982 PQH Expertise... •LEED Accredited Our multi-disciplined team of qualified design professionals has been honored to work with clients, both •Registered in 10 States public and private, from across the country. As a whole, •MBE State Certified our knowledge spans the areas of Commercial, •FDOT DBE Certified Student Housing, Senior Living, Multi-Family Housing, •Registered Contractors Mixed-Use, Medical, Educational and Religious facilities.
As trained problem-solvers, we provide design and construction solutions to meet our clients’ needs, be it a complex program, limited budget or even building for future growth. To consolidate the decision process, we offer the following in-house services:
Programming, Master Planning, Architectural Design, Interior Design, Space Planning, Building Rehabilitation including Construction Services.
Firm Principals as pictured left to right: Ricardo E. Quiñones, AIA,LEED RAP ; Jose M. “Pepe” Perez, AIA, CGC, LEED RAP, Centrally Located... President & CEO; and Robert D. Hoenshel, AIA., LEED RAP PQH Group, Inc. is centrally located in Jacksonville’s Southpoint Busi- ness District, just off the I-95 and JT Butler interchange. We are minutes from downtown and the beaches, and just a short drive from the Jack- sonville International Airport. For more information, you can contact us at:
4141 Southpoint Drive East, Jacksonville, FL 32216 (904) 224-0001 (fax) 224-0023 www.pqh.com
Page 17 of 74 Skanska USA Building Overview
Our history Our financial strength Incorporated in New York since 1971 Revenue of $5.8 billion in 2012, representing 30 Four U.S. business units: USA Building, USA Civil, percent of Skanska’s global revenue Infrastructure Development North America, and Equity of $770 million USA Commercial Development Strong bonding capacity of $7.5 billion 39 offices across the country More than 8,300 U.S. employees More than 440 LEED® APs and more than 125 Our investment projects that have achieved or are seeking LEED® Plan to invest approximately $1 billion in certification commercial development properties in U.S. cities 6th largest general building contractor by revenue over the next five years (ENR) $1.4 million donated to local charitable initiatives Excellent safety record - in 2012, the average in 2012 industry contractor had more than five lost time Approximately $180 million in U.S. and state incidents for every one experienced at Skanska USA corporate taxes paid over the last five years Among the first U.S. construction firms to have More than 46 million man-hours put in place all operations certified under ISO 14001, a global annually standard for environmental performance
39 Skanska USA Office Locations
Portland, OR Seattle, WA
Chicago, IL Kalamazoo, MI Evansville, IN Detroit, MI
Cincinnati, OH Boston, MA
New Haven, CT New York, NY * Carteret, NJ Parsippany, NJ Philadelphia, PA
Washington, DC * Los Angeles* Cape Charles, VA Downtown Oakland, CA Virginia Beach, VA West Los Angeles Durham, NC Charlotte, NC New York* Nashville, TN New York City Los Angeles, CA* Maspeth Queens Riverside, CA Atlanta, GA Cortez, CO Phoenix* Orlando, FL Tempe Phoenix, AZ* Peoria Dallas, TX Houston, TX Tampa, FL San Juan, PR San Antonio, TX Ft. Lauderdale, FL Washington DC* Alexandria, VA Harlingen, TX Arlington, VA Rockville, MD
Page 18 of 74 Florida Polytechnic University Innovation Science and Technology Building Unique Skanska Advantages
Skanska o!ers a broad array of relevant University housing Understanding of adjacent property- we have a close experience, a high performing team that is already intimately relationship with Williams Company, the owner of the familiar with the unique characteristics of the project site, and a majority of the surrounding property. project management/design management platform that optimizes value throughout the delivery of the facility. Established working relationship with the civil engineers of record, Anderson Lane and Chastain Skillman (who also Our team has been involved with the development and building performed all site surveying and layout). of the Phase 1 Classroom facility since early in design, and our “collaborative experts” approach has been key to delivering the Understanding of site access- we developed and execute all design intent and programming goals within the framework of the logistics plans. original budget. We have a culture of mutual accountability and respect for all team members, with the objective of delivering on Control of the Site: It is not e#cient for another contractor all of the goals of the client. We will continue this same approach to be on site working in an area that we control and that has on the delivery of this most important project that will support to be "nished as part of our contract. We can better control the development of the campus and the student experience. Our the use of the housing site and its associated logistical familiarity with the master plan goals and our experience on the issues, including laydown, parking, work areas, etc. $is is classroom building – especially as it relates to driving value into the especially important on this project because of the extreme process of delivering the design – puts us in a unique position to schedule constraints and probable necessity for shi% work. be able to carry forward all of this knowledge to our development partners and bring to fruition the right solution for this very Subcontractor E#ciency: It will be possible to achieve important "rst phase of the housing program for the University. best value pricing from the subcontractors that are already on site by taking advantage of supervision, other general Our team’s unique knowledge, which will enable us to seamlessly conditions costs and equipment (i.e. site subcontractor, for deliver the project by early August, 2014, includes: example).
Understanding of the subsoil conditions and the General Conditions costs will be minimized because we are rami"cations on design, cost and schedule. already established on site. A new contractor coming onto the job will have to mobilize from scratch. Understanding of the in place-utilities. Our team installed all of them including site gas, TECO electric, Brighthouse Overall risk, cost, quality and schedule will be better and Verizon phone and internet services. optimized by our existing team, which has already demonstrated the ability to manage and deliver a complex Understanding of permitting agencies- we know our project with mostly local subcontractors, suppliers and SWFWMD person, we know the City of Lakeland labor. permitting authorities and inspectors, we know the Fire Marshall, and most importantly, we have a very close working relationship with Tom Browning, FPU’s Authority that has jurisdiction over the site. Florida Polytechnic University - Development of Residential Housing Relevant Experience Page 19 of 74 Established in 1997, Ambling Management Company (AMC) is one of the nation's most successful and experienced managers of student housing communities. AMC offers a proven track record and invaluable experience in the student housing industry having directed more than 100 new construction lease-ups across the country in a wide vari- ety of project sizes, university settings and market conditions. Their current portfolio consists of 31 student housing properties in 17 states comprising nearly 19,000 beds in addition to 154 market rate and affordable properties comprising 13,040 units in seven states, totaling 185 properties. These properties represent 33 universities and more than 70 owners across 19 states - all supported by over 900 employees.
Every decision, every strategy, every working moment is centered around two funda- mental questions. How can we increase NOI? And how can we enhance the value of the asset? We take a hands-on, entrepreneurial approach, utilizing the broad range of tools and talents at our disposal. Our management team is finely calibrated to assess, then act, making improvements in a variety of ways. From employing pinpointed marketing, to utilizing cost-effective resident retention programs, from cutting costs in one area to investing in another, all while ensuring resident satisfaction.
We have the systems in place and the depth of experience to quickly develop a strat- egy and plan of action to execute a successful lease up within the critical time period during the academic year even while a new project is under construction. In addition, AMC offers extensive experience in developing and implementing Residence Life Pro- gramming that complements the mission of our clients and student residents and look forward to working with the New Jersey City University (NJCU) to develop a custom solution for this new project.
AMC has adopted a multi-faceted approach to resident programming, blending current student development models and theories. The overall emphasis of the Residential Life Program is to support the academic enterprise through the creation of a healthy living-learning environment which promotes academic and personal enrichment both in and out of the classroom. Our student-centered communities provide accessible resources and promote collaborative efforts with the University that are critical to student success. Programming is developed to complement and supplement the pro- grams already offered by the University in order to meet the specific needs of the students residing in a particular residence hall or apartment community.
As a third-party management firm, AMC is keenly focused on customer service to our clients in order to promote long-term value, asset preservation, and cost efficiency. AMC offers a full range of management services and solutions including superior prop- erty operations management, lease-up management, financial services and reporting, facilities maintenance and operation, residence life programs, acquisitions and due diligence services, professional development and training as well as strategic business and marketing plan development and implementation.
Every university, owner, and financial institution we have the privilege to serve is unique and our continued success is based upon our flexibility to work in a constantly changing environment. AMC believes the most important aspect of providing global business and human capital solutions is to understand the needs of our client, execute our duties as assigned within the management agreement, take care of our residents and be the best relationship managers in the business.
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TAB 4 – EXPERIENCE & PAST PREFORMANCE
Experience and Past Performance
Vestcor Communities has assembled a team that is well qualified to meet all of the Project’s requirements, including having it available for residents to occupy on August 20, 2014. The members of our team, each industry leaders in their respective fields, combine to provide many years of experience and a proven track record in the design, development and construction of student housing communities as well as intimate knowledge of the FPU campus and housing site. Our team also brings a proven track record with one of the leaders in property management to ultimately operate the community efficiently and effectively to ensure a safe, enjoyable atmosphere for all residents.
Vestcor and PQH Group have a history of working together for over 25 years on the design and development of multifamily communities, including each of the student communities developed by Vestcor Communities. A long history of working together with attention to detail and a clear vision for design results in efficient design decisions and ultimate execution of a project. Included on the following pages are representative projects developed by this design and development team each of which were delivered on time and within budget.
Skanska, one of the largest construction companies in the world, is currently the construction manager for the Florida Polytechnic University’s Innovation Science and Technology Building project. Their Residence Hall construction team will easily coordinate all activities with the Academic Building team. This collaboration and knowledge will translate into quick decision making, resulting in a more efficient team and a shorter schedule. Included on the following pages is a representative selection of Skanska’s vast University housing experience.
Ambling Management Company (Ambling) is one of the industry's most experienced managers of student housing communities. Ambling offers a proven track record and invaluable experience in the student housing industry having directed more than 100 new construction lease-ups across the country in a wide variety of project sizes, university settings and market conditions. Ambling has the systems in place and the depth of experience to quickly develop a strategy and plan of action to market and ultimately manage this property. In addition, Ambling offers extensive experience in developing and implementing Residence Life Programming that will complement the mission of the University. Included on the following pages are four on- campus properties managed by Ambling, which are representative of their portfolio of over 6,600 on-campus beds managed.
Page 21 of 74 The Flats at Kernan Jacksonville, FL
Construction Cost: $26,000,000
Size: 223,000-SF
Completion Date: 2009
Architect: Ricardo Quinones PQH Group Located directly across from the campus of The University of North Florida, this $26 million
Management Company: student housing community was the first of the Flats’ luxury student living brand developed Ambling and owned by Vestcor. This purpose-built student housing development is a 192 unit 480 bed facility with a separate 10,000 SF Community Center that caters to students enrolled at Reference: the University of North Florida, Florida State College, and Florida Costal School of Law. John Delaney, President Buildings at this community were delivered in less than 8 months from foundation prepara- University of North Florida tion to final certificate of occupancy. This property is currently 98% occupied. 1 UNF Drive J.J. Daniel Hall Suite 2800 Quote from UNF President John Delaney on the development of The Flats at Jacksonville, FL 32224 Kernan: (904) 620– 2500 “As the University of North Florida continues to grow, both in size of the student body and [email protected] the size of the campus, private businesses surrounding UNF become key to its success”.
The Flats at Mallard Creek Charlotte, NC
Construction Cost: $16,400,000
Size: 163,500-SF
Completion Date: 2010
Architect: Ricardo Quinones PQH Group This $16.4 million development was the second of Vestcor’s student housing communities
Management Company: and had aggressive deadlines that were met for August 2010 move in. This 131 unit 386 bed Ambling student housing community was built in less than 12 months, including sitework. Working closely as a team with PQH Architects and our general contractor through the entire project, Reference: we were able to stay ahead of schedule and even incorporate features into our community at Phillip Dubois, Chancellor a nominal cost that would otherwise be considered upgrades. The community opened for UNC Charlotte the Fall 2010 semester with a tremendous reception by the students at University of North 9201 University City Blvd. Carolina – Charlotte. Located less than 1/3 mile from campus, this property has consistently Charlotte, NC 28223 (704) 687-5727 remained fully occupied since opening in 2010. [email protected]
Page 22 of 74 The Flats at Campus Pointe Charlotte, NC
Construction Cost: $10,300,000 Size: 115,000 SF Completion Date: 2012 Architect: Ricardo Quinones PQH Group The sister property to The Flats at Mallard Creek in Charlotte, NC is a 99 unit, 183- bed stu- Management Company: dent housing community which is also located less than 1/3 mile from campus. This project Ambling also had construction timeline challenges to overcome. Working through a harsh winter that was immediately preceded by 75 rain days during sitework, vertical construction started in Reference: December 2011 and we received our Certificate of Occupancy on August 13, 2012. Since Richard Laliberte opening in 2012, Campus Pointe has also remained fully occupied. The occupancy of our Real Estate Director UNC Charlotte properties is a testament to the ongoing sense of community that has been developed by 9201 University City Blvd. Vestcor and Ambling. Charlotte, NC 28223 704 687 0560 [email protected]
The Flats at Carrs Hill Athens, GA
Construction Cost: $20,000,000 Size: 225,000 SF Completion Date: 2013 Management Company: Ambling Reference: The newest of Vestcor’s student housing communities was completed in June, 2013 ahead of Brad Griffin schedule. Vertical construction of this 225,000-SF facility, which included a two-story park- Planning Director ing garage, took less than a year. Construction was completed 45 days ahead of schedule, Athens Clarke County which allowed residents the opportunity to move in early. This 5 story facility is equipped Unified Government with elevators, internal corridors and trash rooms on every floor, much like the product we 120 W. Dougherty St. have designed for this proposal. Athens, GA 30601 Quote from UGA student Justin Stewart about living at The Flat at Carrs Hill: (706) 613 3515 “The Flats at Carrs Hill has a unique blend of the luxuries you expect in off campus living planning@athensclarke and convenience of living on campus. With the many amenities available here, there is no county.com reason to leave the property. With its ideal location, getting to class and the attractions in Downtown Athens is a cinch!”
Page 23 of 74 Client Florida Polytechnic
Architect Santiago Calatrava / Festina Lente LLP
Construction Cost $98 million
Size 160,000-GSF
Delivery Method Construction Management
Completion Date July 2014
Florida Polytechnic Innovation Science and Technology Building Lakeland, Florida
Phase I of Florida Polytechnic, designed by architect Santiago Calatrava, Why Relevant? consists of the 160,000-GSF Innovation Science and Technology Florida Polytechnic Building. !is facility includes research labs, teaching labs, classrooms, project o"ce space, study space, support space, student spaces and common Proposed areas. !e two-story structure will also house a large amphitheater that construction can be used for hosting exhibitions and lectures. Phase I also includes team is currently construction of a 5,000-SF Central Energy Plant (CEP). !e CEP will working on this house four 600 ton chillers and four cooling towers. In addition the project Technology Hub and Central command room is located within the Familiarity with Plant including all associated equipment that make up the cooling for client and campus the Phase I portion of the project. Higher education
Calatrava’s design also incorporates an outdoor terrace, shaded by a continuous pergola that provides outdoor learning, gathering and seating areas.
Florida Polytechnic focuses exclusively on STEM education, o#ering undergraduate and graduate degrees as well as online educational programs. !e polytechnic model emphasizes applied learning, research and intensive collaboration with industry and will enhance the economic development in the region. When complete, the building will house upper and lower division interdisciplinary teaching and research, serving as the State’s 12th University and the $rst and only Polytechnic.
Page 24 of 74 Florida State University New Residence Hall Tallahassee, Florida
Construction Cost Original GMP: $23.8 million Final Cost: $24.6 million ( Approved added scope) Size 153,000-SF Current Phase of Development Complete Completion Date August 2003 Type of Services Design-Build Skanska provided design-build services for this new 153,000-SF student Owner Contact residence hall for Florida State University. Why Relevant? Mr. Darryl Ellison (retired) Florida project Florida State University !e residence hall contains four, "ve-story buildings with eight Higher education 850-545-8881 apartments per building, to accommodate 540 students. !e four- Residence Hall Architect Contact bedroom units share two bathrooms, a kitchen and a common area. Active campus Ms. Kristen Bolt KBJ Architects, Inc. 904.356.3491 !e buildings have steep clay tile roofs with precast and brick veneer and stone caps on the walls. !ey also include light gauge trusses, SBS modi"ed bitumen roo"ng, curtain walls, precast stairs, and ceramic tile. In addition, Skanska constructed an open courtyard in the center of the residence hall for the students.
East Carolina University College Hill Suites Residence Hall Greenville, North Carolina Construction Cost Original GMP: $26.6 million Final Cost: $26.9 million ( Approved added scope) Size 155,000-SF Current Phase of Development Complete Completion Date July 2006 Skanska provided construction management Why Relevant? Type of Services at-risk services for this 155,000-SF, 504-bed suite style residence hall Construction Management that provides a comfortable and secure place for students to live in an Similar size Owner Contact environment that is conductive to learning outside of the classroom. Higher education Mr. Bill Bagnell Residence Hall East Carolina University 252.328.6858 !e typical suite has a small kitchen space, living /dining area, two Active campus bedrooms, and two bathrooms. !e kitchen area has base and upper Architect Contact cabinets for storage, a sink, microwave, and a full size refrigerator. !e Mr. Scott Sullivan Burt Hill living area "ts a small couch and stu#ed chair, entertainment center and a dining table for four. 215.751.2900 Each bedroom is sized to "t two twin beds, two hanging wardrobes, two dressers/end tables.
Florida Polytechnic University - Development of Residential Housing Relevant Experience
Page 25 of 74 University of Notre Dame Ryan Residence Hall Notre Dame, Indiana
Construction Cost Original GMP: $15.1 million Final Cost: $15.1 million Size 75,000-SF Current Phase of Development Complete Completion Date June 2009 Type of Services Construction Management Ryan Hall, Notre Dame’s newest women’s residence hall, is a 75,000-SF Why Relevant? Owner Contact multi-story facility with a partial basement, 248 new student beds, and Mr. Tony Polotto, LEED AP LEED Gold certified University of Notre Dame a new student chapel. It is located on the southwest side of campus 574.631.4200 just north of the Hammes Bookstore and it is designed in the collegiate Residence Hall Architect Contact Gothic style that is consistent with Notre Dame’s high-end campus Higher education Mr. Javier Esteban architecture. !is project achieved LEED® Gold Certi"cation. Active campus Mackey Mitchell Architects 314.421.1815 Other notable credits that are the responsibility of the designer are alternative transportation (bicycle storage), recycling stations in the building, zero VOC’s in all adhesives, paints, and sealants, low-$ow "xtures and plumbing, enhanced commissioning, controllability of lighting/thermal control by use of proximity switches, and ND’s “green housekeeping” program.
Savannah College of Art & Design Student Housing Savannah, Georgia
Construction Cost Original GMP: $14.2 million Final Cost: $14.2 million Size 162,000-SF Current Phase of Development Complete Completion Date September 2001 !e new, 290-unit student residence building was designed with two Type of Services adjoining wings (one 5-story, one 4-story) that are connected by a 6-story Why Relevant? Construction Management common area in order to promote student interaction. Residence Hall Owner Contact Mr. Martin Smith Higher education Savannah College of Art To accommodate the accelerated schedule, Skanska utilized an innovative, and Design precast, aerated, autoclave concrete system with panels measuring the Active campus 912.525.5080 exact height as the building. A%er installing the panels, the team applied a Architect Contact top coating for sealant. !is process expedited the installation time. Mr. Stewart Aiken Aiken, Beauchamp & !e fast-track project was delivered successfully on two completion dates and apartments in each Sheete 404.233.4466 wing were turned over on schedule.
Florida Polytechnic University - Development of Residential Housing Relevant Experience
Page 26 of 74
UNIVERSISTY COURTYARD On-Campus Student Housing | Youngstown, OH PROJECT OVERVIEW SIZE 408 Beds UNITS 130 UNIT MIX 1BR/1BA, 2BR/2BA, 4BR/2BA DEVELOPER Ambling University Development Group MANAGEMENT Ambling Management Company MANGANGED SINCE 2003 OCCUPANCY 97% ARCHITECT Niles Bolton & Associates, Inc.
PROJECT DESCRIPTION # OF BUILDINGS 2 Buildings BUILDING DESIGN Three and four-story LOCATION On campus
AMC SERVICES PROVIDED REFERENCE Regional manager oversight Jack Fahey VP of Student Affairs Facilities management & maintenance Youngstown State University Marketing & leasing Todd Hall, Youngstown, OH Residence life program Phone (330) 941-3532 [email protected] Rent collection Financial management, reporting & cost analysis
UNIVERSISTY PLAZA Off-Campus Student Housing | Vestal, NY PROJECT OVERVIEW SIZE 710 Beds UNITS 186 UNIT MIX 2BR/2BA, 3BR/2BA, 4BR/2BA Townhouse, 4BR/4BA, 4BR/2BA Loft DEVELOPER Ambling University Development Group MANAGEMENT Ambling Management Company MANAGED SINCE 2006 OCCUPANCY 100% ARCHITECT Niles Bolton & Associates, Inc.
PROJECT DESCRIPTION # OF BUILDINGS 4 Buildings BUILDING DESIGN Three (3) Four-story Buildings One (1) Two-story Building LOCATION 3 miles from campus on Vestal Pkwy
AMC SERVICES PROVIDED REFERENCE Regional manager oversight Sheila Doyle Executive Director Facilities management & maintenance Binghamton University Foundation Marketing & leasing Vestal, NY Residence life program Phone (607) 777-3844 [email protected] Financial management, reporting & cost analysis
Page 27 of 74
UNIVERSISTY COURTYARD Off-Campus Student Housing | Newark, DE PROJECT OVERVIEW SIZE 880 Beds UNITS 266 UNIT MIX 1BR/1BA, 2BR/2BA, 4BR/2BA DEVELOPER Ambling University Development Group MANAGEMENT Ambling Management Company ARCHITECT Niles Bolton & Associates, Inc.
PROJECT DESCRIPTION # OF BUILDINGS 7 Buildings BUILDING DESIGN Three-story garden-style LOCATION Within blocks from campus
AMC SERVICES PROVIDED Regional manager oversight Facilities management & maintenance Marketing & leasing Residence life program Rent collection Financial management, reporting & cost analysis
TIGER VILLAGE—GRAMLING STATE UNIVERSITY On-Campus Student Housing | Grambling, LA PROJECT OVERVIEW SIZE Phase 1—1,204 Beds Phase II—815 Beds UNITS Phase I—479 Phase II—338 UNIT MIX 1BR/1BA, 2BR/1BA, 4BR/2BA DEVELOPER Ambling University Development Group MANAGEMENT Ambling Management Company MANAGED SINCE 2007 ARCHITECT Niles Bolton & Associates, Inc.
PROJECT DESCRIPTION # OF BUILDINGS Phase 1—7 Buildings Phase II—4 Buildings BUILDING DESIGN Three-story Buildings LOCATION On Grambling State University Campus
AMC SERVICES PROVIDED REFERENCE Regional manager oversight Leon Sanders VP for Finance and Administration Facilities management & maintenance Grambling State University Financial management, reporting & cost 403 Main Street analysis Grambling, LA 71245 Phone (318) 274-6406 [email protected]
Page 28 of 74
EXHIBIT B – PROPOSER EXPERIENCE REFERENCES
Exhibit B – Proposer Experience Reference
[Include behind Tab 4 of the Statement. Submit at least three (3) but not more than five (5) references. Use a separate form for each reference.]
Proposer Name: Vestcor Communities, Inc.
If reference is for an individual or entity rather than for Proposer, identify the individual or entity:
(1) Project information (name, term of performance, overall project amount, your project amount):
The Flats at Carrs Hill – 316 Bed Student Housing Community located in Athens, GA Project Start Date: 4-1-2012 Project End Date: 6-28-2013 Total Cost: $20,000,000
(2) Awarding authority (i.e., party/agency responsible for awarding contract or administering project) (name, address, phone number):
Vestcor Communities, Inc. 3030 Hartley Road, Suite 310 Jacksonville, FL 32257 904-288-7810
(3) Other party’s contract officer, if applicable (list all if multiple, and dates of service) (name, phone number, email address, and physical address if different from (2)):
Not Applicable
(4) Other party’s project manager (list all if multiple, and dates of service) (name, phone number, email address, and physical address if different from (2)):
Not Applicable
(5) Nature of the work you performed under the project, and how it is relevant to the work you will perform if selected as a Developer by the University:
Developed this 225,000 SF community within budget and ahead of schedule.
This property is 5 stories and includes elevators, trash rooms, a trash chute, and interior hallways, much like this proposed project.
Page 29 of 74
(6) Type and extent of any subcontracting, teaming, or other arrangements to deliver service (describe your role, others’ roles, and the overall project structure):
Effectively teamed with PQH and a local architectural firm to identify ideas that resulted in project savings of over $1 million.
Managed by Ambling Management Company.
(7) Significant challenges or weaknesses experienced under the project, and how you approached/overcame them:
Significant design modifications were required on this project to achieve our goal of parking underneath the building. The parking garage was designed around the subsurface rock that was prevalent on the geotechnical borings. The design was successful as rock was not encountered in the garage area during construction.
The site had a tremendous amount of rock on it, the risk of which was mitigated by paying a premium for the sitework subcontractor to take the risk for any rock encountered during construction. This additional premium was well calculated and resulted in us avoiding possible delays as there was extensive rock encountered which the subcontractor accepted under his contract without any delays to the schedule.
(8) Significant successes or innovations achieved under the project:
Project was delivered 45 days ahead of schedule.
The property is served with a fiber pipe delivering 100MB of bandwith which provides extremely fast and dependable internet service to our residents.
Successfully worked with Athens-Clarke County Department of Planning and Development to comply with all new code restrictions.
(9) Other information about this project that is relevant to an assessment of your ability to perform under the Project if selected as a Developer:
Vertical construction for this 225,000 SF facility was completed in less than 1 year, which is what will be required for this project.
We worked effectively with a new contractor on this project.
Page 30 of 74 Exhibit B – Proposer Experience Reference
[Include behind Tab 4 of the Statement. Submit at least three (3) but not more than five (5) references. Use a separate form for each reference.]
Proposer Name: Vestcor Communities, Inc.
If reference is for an individual or entity rather than for Proposer, identify the individual or entity:
(1) Project information (name, term of performance, overall project amount, your project amount):
The Flats at Campus Pointe – 183 Bed Student Housing Community located in Charlotte, NC Project Start Date: 9-1-11 Project End Date: 8-1-2012 Total Cost: $10,300,000
(2) Awarding authority (i.e., party/agency responsible for awarding contract or administering project) (name, address, phone number):
Vestcor Communities, Inc. 3030 Hartley Road, Suite 310 Jacksonville, FL 32257 904-288-7810
(3) Other party’s contract officer, if applicable (list all if multiple, and dates of service) (name, phone number, email address, and physical address if different from (2)):
Not Applicable
(4) Other party’s project manager (list all if multiple, and dates of service) (name, phone number, email address, and physical address if different from (2)):
Not Applicable
(5) Nature of the work you performed under the project, and how it is relevant to the work you will perform if selected as a Developer by the University:
Development was privately financed. Similar financing is necessary for this project.
183 Bed student housing community with amenities is similar in size to our proposed project.
Page 31 of 74
(6) Type and extent of any subcontracting, teaming, or other arrangements to deliver service (describe your role, others’ roles, and the overall project structure):
Designed by PQH Group. MEP engineers who worked with PQH Group will be the same on this project.
Managed by Ambling Management Company. Ambling Management Company successfully leased project to 100% and continues to provide property management services.
Effectively worked with Mecklenburg Department of Planning and Development throughout entire development process.
(7) Significant challenges or weaknesses experienced under the project, and how you approached/overcame them:
Tirelessly worked with city council members, University officials and Charlotte-Mecklenburg Planning Department to ensure this project and its sister property, The Flats at Mallard Creek, included the features that were important to each party.
Vertical construction was accelerated due to numerous weather delays during sitework. Working 7 days a week as needed, and lighting the site at night, this project was delivered ahead of schedule.
(8) Significant successes or innovations achieved under the project:
Furniture installation time was reduced significantly by staging and assembling offsite. We have used this process improvement on all subsequent projects to save time and reduce traffic on the job site.
Design innovations were introduced into the marketplace for the first time. 1BR and 2BR units represent the majority of the beds at this student property when most properties only offer higher density products. These unit types have a waiting list each year.
Our IT solution on both Charlotte properties provided the fastest internet service of any student housing community in the area. We were also able to provide wireless routers in each unit for faster more secure access by residents.
We were the first developer in the market to successfully negotiate with the University for use of the school shuttle to transfer residents from an off-campus property. With other developers subsequently following our lead, over 3,000 students are now shuttled daily from off-campus communities providing a tremendous relief for University parking.
Page 32 of 74
(9) Other information about this project that is relevant to an assessment of your ability to perform under the Project if selected as a Developer:
Working closely with UNCC, we provide housing to many of the international students that attend the University.
Positive working relationship with many departments (Chancellor’s Office, Real Estate Office, Facilities Management, University Police).
Both of our student communities in Charlotte are consistently full which represents its acceptance and appeal in the marketplace.
Page 33 of 74 Exhibit B – Proposer Experience Reference
[Include behind Tab 4 of the Statement. Submit at least three (3) but not more than five (5) references. Use a separate form for each reference.]
Proposer Name: Vestcor Communities, Inc.
If reference is for an individual or entity rather than for Proposer, identify the individual or entity:
(1) Project information (name, term of performance, overall project amount, your project amount):
The Flats at Kernan – 480 Bed Student Housing Community located in Jacksonville, FL Project Start Date: 4-1-2008 Project End Date: 2-9-2009 Total Cost: $26,000,000
(2) Awarding authority (i.e., party/agency responsible for awarding contract or administering project) (name, address, phone number):
Vestcor Communities, Inc. 3030 Hartley Road, Suite 310 Jacksonville, FL 32257 904-288-7810
(3) Other party’s contract officer, if applicable (list all if multiple, and dates of service) (name, phone number, email address, and physical address if different from (2)):
Not Applicable
(4) Other party’s project manager (list all if multiple, and dates of service) (name, phone number, email address, and physical address if different from (2)):
Not Applicable
(5) Nature of the work you performed under the project, and how it is relevant to the work you will perform if selected as a Developer by the University:
Developed this student housing community located in Jacksonville, FL at UNF, another university in the State of Florida University System.
Page 34 of 74 (6) Type and extent of any subcontracting, teaming, or other arrangements to deliver service (describe your role, others’ roles, and the overall project structure):
Built by JDR Construction, LLC, general contractor, an affiliate of Vestcor.
Designed by PQH Group.
Managed by Ambling Management Company.
(7) Significant challenges or weaknesses experienced under the project, and how you approached/overcame them:
Significant savings were generated on this project by working with general contractor and architect to effectively value engineer the design.
(8) Significant successes or innovations achieved under the project:
This was the first purpose-built student housing community in the Jacksonville area that rents only student. This is a key factor to many parents looking for housing for their son or daughter.
(9) Other information about this project that is relevant to an assessment of your ability to perform under the Project if selected as a Developer:
Successfully worked with the various program departments (English Language Program, International MBA Program, Athletic Department) to facilitate off-campus housing.
After 5 years, this property is still the most appealing off-campus student housing option for students at the University of North Florida.
Page 35 of 74 Exhibit B – Proposer Experience Reference
[Include behind Tab 4 of the Statement. Submit at least three (3) but not more than five (5) references. Use a separate form for each reference.]
Proposer Name:
If reference is for an individual or entity rather than for Proposer, identify the individual or entity:
(1) Project information (name, term of performance, overall project amount, your project amount):
(2) Awarding authority (i.e., party/agency responsible for awarding contract or administering project) (name, address, phone number):
(3) Other party’s contract officer, if applicable (list all if multiple, and dates of service) (name, phone number, email address, and physical address if different from (2)):
(4) Other party’s project manager (list all if multiple, and dates of service) (name, phone number, email address, and physical address if different from (2)):
Page 27 of 28
Page 36 of 74 (5) Nature of the work you performed under the project, and how it is relevant to the work you will perform if selected as a Developer by the University:
(6) Type and extent of any subcontracting, teaming, or other arrangements to deliver service (describe your role, others’ roles, and the overall project structure):
(7) Significant challenges or weaknesses experienced under the project, and how you approached/overcame them:
(8) Significant successes or innovations achieved under the project:
(9) Other information about this project that is relevant to an assessment of your ability to perform under the Project if selected as a Developer:
Page 28 of 28
Page 37 of 74 Exhibit B – Proposer Experience Reference
[Include behind Tab 4 of the Statement. Submit at least three (3) but not more than five (5) references. Use a separate form for each reference.]
Proposer Name:
If reference is for an individual or entity rather than for Proposer, identify the individual or entity:
(1) Project information (name, term of performance, overall project amount, your project amount):
(2) Awarding authority (i.e., party/agency responsible for awarding contract or administering project) (name, address, phone number):
(3) Other party’s contract officer, if applicable (list all if multiple, and dates of service) (name, phone number, email address, and physical address if different from (2)):
(4) Other party’s project manager (list all if multiple, and dates of service) (name, phone number, email address, and physical address if different from (2)):
Page 27 of 28
Page 38 of 74 (5) Nature of the work you performed under the project, and how it is relevant to the work you will perform if selected as a Developer by the University:
(6) Type and extent of any subcontracting, teaming, or other arrangements to deliver service (describe your role, others’ roles, and the overall project structure):
(7) Significant challenges or weaknesses experienced under the project, and how you approached/overcame them:
(8) Significant successes or innovations achieved under the project:
(9) Other information about this project that is relevant to an assessment of your ability to perform under the Project if selected as a Developer:
Page 28 of 28
Page 39 of 74
TAB 5 – PERSONNEL QUALIFICATIONS
Florida Polytechnic University Resident Hall Organizational Chart
RESIDENCE HALL
DEVELOPER
John D. Rood Chairman
William L. Morgan President
ARCHITECT GENERAL CONTRACTOR PROPERTY MANAGEMENT
Matt Gilbert Senior VP Kimberly A. Barkwell President Ricardo E. Quinones Director of Design Chuck Jablon Construction Manager
James “Hugh” Hodge Frank Ringhofer Jr. Brian Coakley Executive VP Vice President Preconstruction Director
Charlie Bauerlein Sr. Project Manager Daniel Strickland Michael A. Davis
VP – Director of Regional VP Construction Activities Jake Krehbiel Assistant Project Manager
Rick Lee Superintendent
Page 40 of 74 The Vestcor Companies 3030 Hartley Road Suite 310 Jacksonville, Florida, 32257 T 904-260-3030
F 904-260-9031
October 4, 2013
RE: Project Commitment
To whom it may concern:
If selected as the Developer for on-campus housing at Florida Polytechnic University, the experienced staff members listed below will be committed to the success of the project with a delivery date of August 20th 2014.
John D. Rood Chairman Vestcor Communities, Inc. Phone: 904-288-7777 [email protected]
William L. Morgan President Vestcor Communities, Inc. Phone: 904-288-7810 Mobile: 904-333-1652 [email protected]
Sincerely,
William L. Morgan President Vestcor Communities, Inc.
www.vestcor.com
Page 41 of 74 Vestcor Communities, Inc.
JOHN D. ROOD Chairman
Mr. Rood began his real estate career in 1983 as founder of The Vestcor Companies. Under his direction, the company focused on brokerage of multifamily properties and then expanded into real estate investments, development, and construction. As the managing partner for over 71 investment partnerships, Mr. Rood is responsible for acquisition or development, management and disposition of properties in the portfolio. A total of fifty-seven communities, consisting of over 11,000 units, have been acquired or developed by partnerships managed by Mr. Rood.
In September of 2004, President George W. Bush appointed Mr. Rood as United States Ambassador to the Commonwealth of the Bahamas where he served until 2007. An April, 2005 article from The Freeport News, commented, “John D. Rood is the quintessential diplomat. Ever since he presented his credentials to Governor General Dame Ivy Dumont, he has been a model diplomat, as he has sought to keep the promise he made to “work with my Bahamian friends, old and new, to advance our common interests and to help attain lasting prosperity and security for our two countries and the region.”
The Ambassador’s commitment to public and professional service is reflected in his many activities outside his professional life. In 2002, he was appointed by Florida Governor Jeb Bush as a commissioner of the Florida Fish and Wildlife Conservation Commission where he served as a commissioner and chairman until 2004. Mr. Rood is a former board member of the James Madison Institute. He is a Rotarian and past president of the Rotary Club of Mandarin. He was a member of the University of North Florida Business Advisory Council and has served as a visiting professor at the university. U.S. Department of Housing and Urban Development Secretary Mel Martinez appointed Mr. Rood to the Advisory Council on Renewal Communities to help local communities take advantage of tax incentives to stimulate job growth and economic development. Mr. Rood was appointed by Mayor John Peyton to serve as co-chairman on the Jacksonville Journey. This program addressed the rise in Jacksonville’s crime and resulted in a multifaceted approach which was implemented by Mayor Peyton. Mr. Rood is a board member of the Tiger Academy which provides the children of Jacksonville’s northwest quadrant a structured and nurturing learning environment. In 2009, Ambassador Rood was appointed by Florida Governor Crist as the Republican Party of Florida Finance Chairman. Since May of 2009, Mr. Rood has served on the board of Alico Inc. (ALCO). Mr. Rood is a current member of the Florida Council of 100. In January 2010, Mr. Rood was appointed by Governor Crist to serve on the Board of Governors of the State University System. In April 2010, Mr. Rood received an honorary degree of Doctor of Laws from Flagler College in recognition of his public service. Mr. Rood was elected to membership on the Board of Trustees of Flagler College in October 2010. In 2012, he became a member of the Board of Advisors for the JU Public Policy Institute. Mr. Rood currently serves on the Fidelity National Financial, Inc. Board of Directors.
Mr. Rood is the proud father of three children. He is a licensed pilot and an avid sportsman.
Page 42 of 74 Vestcor Communities, Inc.
William L. Morgan President
With numerous projects under his direction, Will Morgan brings to Vestcor Communities a well-rounded base of financial and development experience. Vestcor Communities successfully leverages Vestcor’s prior multifamily experience in design, development, and asset management to produce quality investment properties in several multifamily niches.
Most recently, Mr. Morgan has established Vestcor as a leading developer and asset manager of best-in-class, purpose-built student housing communities in the Southeast. He is responsible for generating all new business in this sector, including market and site selection, project design and development, asset management oversight, capital structuring and investor relations. Prior to his current role, Mr. Morgan has held the positions of controller and CFO of The Vestcor Companies. He also serves as president of the Vestcor Family Foundation.
Mr. Morgan has more than 20 years of finance, accounting, and development experience in entrepreneurial environments, resulting in significant expertise in accounting, finance, risk management, mergers and acquisitions, and multifamily development. Prior to joining Vestcor in 2001, Mr. Morgan was the controller for a business-to- business e-commerce company. He also worked as an audit manager at Ernst & Young LLP, where he served clients in the company’s Entrepreneurial Services Group.
Mr. Morgan received his bachelor’s degree from the Fischer School of Accounting at the University of Florida and earned his master’s degree in accounting from the University of North Florida. He is a certified public accountant. He is also the past president of the board of directors for the North Florida School, President of the Vestcor Family Foundation and participant of Leadership Jacksonville.
Page 43 of 74 Page 44 of 74 Ricardo E. Quiñones, AIA, LEEDRAP Vice President - Director of Design
EDUCATION: Masters in Architecture - University of Illinois - 1981 Bachelor of Science in Architectural Studies - University of Illinois - 1979
MEMBERSHIPS: National Council of Architectural Registration Boards American Institute of Architects AIA Jacksonville, President 1997-98 Jacksonville Historic Preservation Commission Mandarin Rotary Knights of Columbus Hispanic American Business Association Assisted Living Federation National Fire Protection Association The Arc Jacksonville, Board of Directors
REGISTRATION: Florida - No. AR0009765 NCARB - No. 48953 Tennessee - No. 00103158 Texas - No. 16949 LEED Accredited Professional, Green Certified
PREVIOUS TO CURRENT EXPERIENCE:
5/81 University of Illinois 5/81 to 2/84 Reynolds, Smith and Hills/Design Architect 2/84 to 11/86 The Haskell Co./Sr. Design Architect 11/86 to Present PQH Group, Inc. Vice President in Charge of Design
Ricardo E. Quiñones, AIA, LEED RAP, is the Director of Design, responsible for programming, schematics and imple- mentation of design through construction documents. He has worked closely with owners and contractors to develop systems and methods of construction which streamline the design/build process.
Highly respected for his work ethic, Ricardo has been honored for his dedication to the profession and the community by the American Institute of Architects in Jacksonville. His dedication and devotion are evident in his work, in the community, and with his family. It is these traits, along with his ability to assess situations, that have fostered many satisfied clients.
A blend of creativity, problem solving, and practicality make programming an enjoyable task for Ricardo. He uses an honest, up-front approach to address clients by meeting with them, evaluating their needs versus their wants, and then translating them into space, form, and building. Proven time and time again, his designs convey creative solutions that are accomplished realistically, within budget, and on-time.
Ricardo is experienced in a variety of project types, including multi-family housing, senior living, historic renovation, educational and medical facilities. A driving force behind PQH, Ricardo continues to focus on the details and personal attention that make this firm a success.
When I first came to this country, I had to work very hard to understand its people and diverse cultures. This methodic, analytical process provided me with a strong foundation for my work. It has allowed me to successfully understand people’s needs and desires and interpret them into the built environment.
Page 45 of 74 Frank M. Ringhofer Jr., AIA, LEEDRAP BD+C Vice President
EDUCATION: Bachelor of Architecture - Kansas State University - 1985 Danish International Architectural Study Program, University of Copenhagen
MEMBERSHIPS: National Council of Architectural Registration Boards American Institute of Architects
REGISTRATION: Florida No. AR0016446 Missouri AR-5985 LEED Accredited Professional, Green Certified
Frank M. Ringhofer Jr., AIA, LEED RAP is Associate Vice President, Principal for PQH and he is a LEED accredited professional with the Green Building Council. He leads the production team in association with Principal Rob Hoenshel. As a “mentor” for the Project Managers of the firm, Frank leads production effort of delivering comprehensive con- struction documents. He also assists Project Managers in the development of Drawing Standards and Project Man- agement Strategies.
Additionally, Frank’s reponsibilities include coordination with the Construction Administration staff during the De- sign process, so that he and the production staff can use their feedback during the preparation of Construction Documents. In order to insure that project resources are allocated appropriately, Frank coordinates staff management in relation to project staffing and production budgets.
During his 20 plus years of experience, his responsibilities have included project management, design, construction administration, specification writing, cost analysis, coordination between the architectural and engineering disci- plines, quality reviews, and delivery of a quality product within the construction budget. His project experience includes a variety of types: educational, commercial, military, multi-family, and institutional, with a focus on and medical/laboratory work.
Frank has had the opportunity to work for a number of prestigious clients including several Fortune 500 companies, Monsanto Company, Southwestern Bell, Nextel and Mallinckrodt Medical. Under the category of public and govern- ment clients, he has provided services to the United States Navy, United States Postal Service, the City of St. Louis and the City of Jacksonville. He also has experience with noted schools of higher learning including Washington Univer- sity, St. Louis University, University of Florida, University of Missouri and University of North Florida as well as some of Florida’s fastest growing school districts such as Duval, Broward and Collier Counties.
The Architect is a conduit for the expression of clients’ desires and needs in the built environment. It is our taskto translate their ideas and convert them to practical and functional spaces. We must assemble the multitude of people and parts to create a balance and harmony that the client will enjoy for years.
Page 46 of 74 Daniel S. “Danny” Strickland, CGC Vice President Director of Construction Activities
EDUCATION: Auburn University - 1979 Bachelor of Science in Building Construction
CERTIFICATIONS:Certified General Contractor, State of Florida License No. CGC045538
Mr. Strickland reviews documents during the design stage for constructability and coordination of details. During the design phase, he prepares opinions of probable cost in order to establish project budgets. He also monitors and reviews design docu- ments for adherence to established budgets and continuity of bidding documents. Once projects are in the bidding stage, he assists the client in evaluating the bids and makes award recommendations.
His responsibilities during the construction phase of a project include reviewing and processing submittal data and requests for information, and coordinating all communication between contractors and design personnel. He reviews and makes recommendations on contractors’ applications for payment and requests for change orders. Additionally, Mr. Strickland performs field observations and prepares field reports to document construction progress and adherence to design documents. If any discrepancies arise, he coordinates the resolution of field problems and acts as liaison between construction and design personnel. Finally, he is in charge of the preparation and administration of project acceptance and close-out procedures.
Past experience includes supervisory positions in Medical, Residential, Multifamily, Commercial, Institutional, Utility, and Industrial Construction Projects as craftsman, superintendent, estimator, construction engineer and project man- ager. Major projects supervised include:
Thomas Chase Apartments - Jacksonville, FL FCCJ Buildings B, C, & D – Jacksonville, FL 11 East Forsyth – Jacksonville, FL Ritz Theatre, Cultural Museum, and Educational Center – Jacksonville, FL Operations & Maintenance Facility – Neptune Beach, FL Jacksonville Electrical Authority “CREW Sites” – Jacksonville, FL Emergency Operations Center – Phases I, II, III – Jacksonville, FL Baymeadows Medical Center - New Office Facility - Jacksonville, FL Dunn Avenue Professional Office Center - Jacksonville, FL Summit Headquarters Building - Jacksonville, FL Leigh Meadows Apartments - Jacksonville, FL Fleet Landing Retirement Community – Atlantic Beach, FL Vicar’s Landing Retirement Community – Ponte Vedra Beach, FL Mallard Cove Apartments – Jacksonville, FL Cedar Creek Condominiums – Jacksonville, FL Marsh Oaks Apartments – Jacksonville, FL Mandarin Lanai Apartments – Jacksonville, FL Clay County Gymnasiums – Orange Park, FL
Page 47 of 74 Skanska USA Building Inc. 4030 Boy Scout Blvd., Suite 200 Tampa, FL 33067 Phone 813.282.7100 Fax 813.281.3262 Web www.skanskausa.com
October 4, 2013
RE: Project Commitment
To whom it may concern:
Skanska USA is ready to partner with Vestcor Communities, Inc. as the General Contractor for the proposed housing project at Florida Polytechnic University. We’re excited to bring our experience and knowledge working with Florida Polytechnic University to the team. The following experienced team members are committed to supporting the project:
Matthew J. Gilbert, LEED AP Senior Vice President Skanska USA Building
Chuck Jablon Construction Manager Skanska USA Building
Charlie Bauerlein Senior Project Manager Skanska USA Building
Rick Lee Superintendent Skanska USA Building
Jake Krehbiel, LEED AP Assistant Project Manager Skanska USA Building
Brian Coakley, LEED AP Preconstruction Director Skanska USA Building
Sincerely,
Matthew J. Gilbert, LEED AP Senior Vice President Skanska USA Building [email protected]
Page 48 of 74
Construction Personnel
Key Personnel !e Skanska personnel assigned to the Florida Polytechnic Residence Hall project are a proven, successful, fully integrated team capable of achieving all of the goals for the project.
Based on our understanding of the current timeframe, all team members proposed by Skanska are available and committed to this project, and will be available over the long term. Each key team members’ experience and expertise can be found in the detailed resumes following this page as well as our organizational chart for team reporting and structure.
Florida Polytechnic University Innovation Science and Technology Building
Florida Polytechnic University - Development of Residential Housing Proposed Construction Team
Page 49 of 74 Key Personnel Organization Chart We have selected a team speci"c to the Florida Polytechnic University Residence Hall project based on their experience, knowledge and availability to meet the project requirements. We have combined the best local resources with extensive higher educational experience. !is team is familiar with the long-term project goals and objectives and the impact the Residence Hall project will have on the entire vision of the your residential program.
Residence Hall Innovation Studio Concept Our proposed “Innovation Studio Concept” will enhance our team’s ability to work with Florida Polytechnic stakeholders, right from the beginning, to collectively look for opportunities to improve project outcomes.
We view innovation as a way to drive and increase e#ciencies in the way buildings are designed, built, operated and used by the occupants. !rough Skanska’s Innovation Studios, we have developed safer projects, cleaner jobsites, schedule enhancements, quality control and cost savings that have allowed us to lower project risks and provide a more predictable outcome for the project. Some of the concepts from our Innovation Studios are:
Innovation Studio Concept Five studio concepts to save Florida Polytechnic time and money
Value Information Management Management Flat Procurement Prefabrication Technology
Quantifiable savings in time and money to Florida Polytechnic
!e organizational chart on the following page demonstrates how your project team will be structured. Resumes for key personnel containing detailed information on their experience/ expertise can be found following this page.
Florida Polytechnic University - Development of Residential Housing Proposed Construction Team Page 50 of 74 Florida Polytechnic University Residence Hall Construction Organizational Chart
Florida Polytechnic University Executive Oversight
Matt Gilbert Senior Vice President
Chuck Jablon Construction Manager Point of Contact
Skanska Florida Polytechnic University* Construction Management Team Master Contractor Florida Polytechnic University Residence Hall Team
Preconstruction Construction
Brian Coakley Preconstruction Director Charlie Bauerlein Sr. Project Manager
Jake Krehbiel Assistant Project Manager
Rick Lee Superintendent
Skanska is currently the construction manager for the Florida Polytechnic University’s Innovation Science and Technology Building project. Our Residence Hall construction team will easily coordinate all activities with the Academic Building team. This collaboration and knowledge will translate into quicker decision making, resulting in a more efficient team and a shorter schedule.
Florida Polytechnic University - Development of Residential Housing Proposed Construction Team Page 51 of 74
Matthew J. Gilbert, LEED® AP Executive Oversight
UF J. Wayne Reitz Union Student Center Expansion and Renovation, Gainesville, FL $43 million, 100,000-SF new, 50,000-SF renovation at the heart Personal Stats of the UF campus. 20 years in the industry University of Florida, Clinical Translational Research 9 years with Skanska Building for the Institute on Aging, Gainesville, FL University of Cincinnati B.S., Building Construction $36 million, 120,000-SF, new facility for studying aging and disability. Seeking LEED Platinum certi"cation by USGBC. Licensed General Contractor, State of Florida University of South Florida, Health South Pavilion, Tampa, FL $26 million, 126,000-SF, new seven- story, medical o#ce building for the University of South Florida.
UF Health Medical Office Building at Springhill, Gainesville, FL $25.8 million, 111,000-SF, design-build, "ve-story medical o#ce building at University of Florida.
UCF Baseball Stadium Expansion, Orlando, FL $4 million, 6,250-SF, expansion of existing baseball stadium on the University of Central Florida campus. Chuck Jablon Construction Manager
Florida Polytechnic Innovation Science and Technology Building, Lakeland, FL $98 million, 160,000-SF, Phase I of Florida Polytechnic Personal Stats consists of the Innovation Science and Technology Building 39 years in the industry including research labs, teaching labs, classrooms, o#ce space, 8 years with Skanska study space, support space, student spaces and common areas.
Florida State University New Residence Hall, Tallahassee, FL $24.6 million, 153,000-SF new residence hall, including four "ve-story buildings (eight apartments per building) to accommodate 540 students.
Tuskegee University Kellogg Conference Center / Dorothy Hall Suites, Tuskegee, AL $25 million, 142,000-SF classroom and teleconference facility including restoration of a 6-story historic hotel. National ABC Historic Restoration Award Winner.
Tuskegee University Henderson Hall Renovations, Tuskegee, AL $9 million renovation of a 60-unit dormitory.
Tuskegee University Logan Hall Renovations, Tuskegee, AL $10.2 million renovation of a 60-unit dormitory.
Tuskegee University White Hall Renovations, Tuskegee, AL $10.7 million renovation of a 93-year old, 32,000-SF facility to rebuild a 110-bed female dormitory. Page 52 of 74
Charlie Bauerlein Senior Project Manager
University of South Florida, East Holly Apartments, Tampa, FL $23 million, 245,000-SF, 198 unit apartment building. !e Personal Stats four-bedroom and two-bedroom student apartments are 34 years in the industry clustered in three and four-story blocks with four apartments 19 years with Skanska per $oor and are located around an exterior circulation and social area. University of Florida B.S., Building Construction Sarasota Memorial Hospital Patient Bed Tower, Licensed General Sarasota, FL Contractor, State of Florida $112 million, new 220,000-SF, ten-story patient tower.
School Board of Pinellas County, Thurgood Marshall Middle School, St. Petersburg, FL $18.2 million, 171,000-SF, new 1,000 student station middle school.
School Board of Pinellas County, Highpoint Elementary School, Clearwater, FL $21.2 million, 99,150-SF, new seven building prototype school on a property adjacent to the existing school.
Rick Lee Superintendent
Florida Polytechnic Innovation Science and Technology Building, Lakeland, FL $98 million, 160,000-SF, Phase I of Florida Polytechnic consists Personal Stats of the Innovation Science and Technology Building including 34 years in the industry research labs, teaching labs, classrooms, o#ce space, study 16 years with Skanska space, support space, student spaces and common areas.
University of South Florida Interdisciplinary Teaching and Research Facility, Tampa, FL $68 million, 238,000-SF multi-story facility that accommodates upper and lower division interdisciplinary teaching and research needs for the University. !is project is seeking LEED® Gold Certi"cation.
Marriott Grande Ocean Resort, Hilton Head Island, SC Two 7-story, 250,000-SF condominiums.
District School Board of Pasco County, Charles S. Rushe Middle School, Land O’ Lakes, FL $36.6 million, 200,000-SF, new middle school consisting of two single-story buildings and one three- story building.
Page 53 of 74
Jake Krehbiel, LEED® AP Assistant Project Manager
Florida Polytechnic Innovation Science and Technology Building, Lakeland, FL $98 million, 160,000-SF, Phase I of Florida Polytechnic consists Personal Stats of the Innovation Science and Technology Building including 7 years in the industry research labs, teaching labs, classrooms, o#ce space, study 7 years with Skanska space, support space, student spaces and common areas.
Kansas State University B.A., Construction Hernando County School Board, Winding Waters K-8, Science and Management Weeki Wachee, FL with Minor in Business $21.9 million, 185,213-SF, new K-8 school. Administration Hernando County School Board, Weeki Wachee High School, Brooksville, FL $49.8 million 220,000-SF, new 2,000-student high school.
Hernando County School Board, Springstead High School, Spring Hill, FL $12.2 million, 49,000-SF, expansion and renovation to existing high school. Brian Coakley, LEED® AP Preconstruction Director
Florida Polytechnic Innovation Science and Technology Building, Lakeland, FL $98 million, 160,000-SF, Phase I of Florida Polytechnic consists Personal Stats of the Innovation Science and Technology Building including 24 years in the industry research labs, teaching labs, classrooms, o#ce space, study space, support space, student spaces and common areas. 6 years with Skanska
New Jersey Institute of Florida International University Stempel Complex, Technology Miami, FL B.S., Construction/ Contracting Engineering $32 million, 120,000-SF science research facility. !e project will Technology be seeking LEED Gold certi"cation. Union County College A.S., Civil/Construction University of South Florida Interdisciplinary Teaching and Research Facility, Tampa, FL Engineering Technology $68 million, 238,000-SF multi-story facility that accommodates upper and lower division interdisciplinary teaching and research needs for the University. !is project is seeking LEED® Gold Certi"cation.
North Carolina State University Engineering Building III, Raleigh, NC $77.4 million, 247,200-SF engineering classroom facility.
Duke University Hospital Addition for Surgery (HAFS), Durham, NC $56.4 million, 130,000-SF addition and renovation.
Duke University Genetics Institute Project, Durham, NC $30 million, 123,000-SF genetics laboratory. Page 54 of 74 Page 55 of 74 kimberly a. barkwell President & Chief Operating Officer
Current Responsibilities As president and COO of Ambling Management Company, Kimberly Barkwell is responsible for all facets of the company’s operations, including strategic planning, overall property management and financial operations, new business development, client satisfaction, and company culture preservation. Under her guidance, Ambling has implemented sophisticated systems and procedures to accommodate the company’s growth as it continues to expand operations nationwide. Barkwell has held progressively responsible accounting, management and administrative positions and is recognized by her peers as an inspirational leader with a unique ability to train, motivate and direct her people.
Relevant Experience Prior to being appointed president of Ambling Management Company, Barkwell was chief operating officer of AMC, where she was responsible for the development of all company policies and procedures, information technology, direction of the marketing and professional development department, compliance department, assessment and recovery team, due diligence, national purchasing, maintenance and facilities management, as well as budgeting and financial performance of management company operations. Barkwell has over 25 years of experience in all facets of real estate property management. Prior to Ambling, Barkwell held the position of regional vice president with Brisben Companies/ National Realty Management, Columbia, S.C., where she directed the overall operations of the Northeast and Mid-Atlantic Regions, comprised of conventional, tax credit and senior living apartments. Specific responsibilities included supervision of regional property managers, project maintenance and new construction oversight, development of marketing campaigns and internal operations procedures, as well as financial performance for the properties and corporate operations. Prior to that, Barkwell served with AIMCO/Insignia Management Group, Greenville, S.C., where she held two roles. As regional vice president, Barkwell supervised a staff of over 350 including corporate members, regional property managers, marketing directors, construction managers, systems personnel, administrative support and site personnel. During her tenure, Barkwell directed overall operations of large conventional and affordable residential portfolios of up to 21,000 units. As vice president of business development/ancillary functions, Barkwell directed presentations, wrote policies and procedures for new business development activities and created proposals and marketing collateral information for the company’s new business development efforts. Barkwell also designed and developed computerized budget programs for over 1,200 residential properties owned and managed by Insignia. Prior to that, Barkwell served in various capacities with the Duddlesten Companies in Houston, including residential property accountant, accounting manager, assistant vice president of financial services, internal auditor, administrative property supervisor and regional property manager.
Education/Affiliations Barkwell attended Ohio University and later transferred to the University of Houston where she pursued a bachelor’s degree in business administration and management. Barkwell has served on a number of committees for the Houston Apartment Association, the Texas Apartment Association and National Apartment Association. Barkwell is a Certified Apartment Property Supervisor, a member of IREM and is in the process of completing her Certified Property Manager Designation.
Page 56 of 74 james e. hodge Executive Vice President
Current Responsibilities James “Hugh” Hodge is responsible for the operation, marketing, leasing, resident’s life and maintenance components of Ambling Management Company’s entire student housing portfolio. Hodge has overall responsibility for budgeting and purchasing, human resources, maintenance and construction. Specific responsibilities include reviewing budget estimates and assisting property managers in preparing budgets for specific properties while also ensuring budgets are implemented and consistently followed to promote efficiently run and profitable student housing properties. Hodge prepares directives to carry out policies approved by the corporate council and administers company policies relating to such matters as regulation of property management and marketing of student housing, as well as ensuring compliance with operation and maintenance standards. Hodge regularly visits property offices, inspects field operations and reviews periodic reports from property managers to determine occupancy and maintenance projects.
Relevant Experience Hodge has more than 20 years of experience in the real estate/property management industry, including new development, property repositioning, property redevelopment and property sales and acquisitions. Prior to joining Ambling, Hodge was senior regional property manager with AIMCO/Insignia Management Group, Greenville, S.C. where he directed the overall operation of 20 conventional apartment communities comprising a total of 4,125 units, located in North and South Carolina and Georgia. Hodge’s responsibilities included supervision of marketing, human resources, construction management and technical services. Hodge also served as assistant regional vice president for Insignia Management Group where he supervised the management of properties throughout the Southeast. Hodge was responsible for the physical preservation and improvement, as well as the overall financial performance of 42 conventional apartment properties, supervised the annual property budget preparation and performed final budget reviews. Hodge also served as a property management consultant for Cornerstone Properties and The Berkley Group where he performed property assessments, made recommendations for property improvements and prepared and implemented business plans to reposition multi-family properties. Hodge also held property management positions with the Paragon Group, including director of property management for properties in North and South Carolina, Tennessee and Virginia.
Education/Affiliations Hodge attended the University of South Carolina, where he majored in psychology and business administration and holds a Certified Property Manager designation. Additionally, Hodge is a licensed real estate broker in North and South Carolina and has served as president of the South Carolina Apartment Association, the Upper State Apartment Association (Greenville, S.C.) and the Apartment Association of Greater Columbia, South Carolina. Hodge is also a Certified Apartment Property and Certified Property Supervisor Instructor.
Page 57 of 74 michael davis Regional Vice President, Student Housing
Current Responsibilities Michael Davis has more than eleven years of student housing experience and is directly responsible for the operations and oversight of seven communities encompassing nearly 4,500 beds. Davis establishes policies relating to matters such as regulation of property management execution, implementation of internal and external marketing plans for the student housing target market, implementation of residence life programs and facilities maintenance oversight. Davis assist in the preparation of directives to carry out policies approved by the corporate council and marketing of student housing, as well, as ensuring compliance with operation and maintenance standards. He coordinates training to enrich overall staff development and performance. Davis communicates with the assigned client representative to ensure that the client’s goals are being met and implements corrective action plans as needed based on customer feedback and his assessments. Davis is pursuing his Certified Property Manager Designation through IREM.
Relevant Experience Davis has been with Ambling since 2000 and has an extensive background in student housing spanning 12 years. Davis’ student housing career began when he worked as a resident assistant (RA) at an on-campus residence hall then as community assistant at an off-campus third-party student housing community. Davis was quickly promoted to Leasing Manager then Property Manager. After two years as property manager, Davis was promoted to Regional Property Manager. Davis assist in the preparation of directives to carry out policies approved by the corporate council and marketing of student housing, as well, as ensuring compliance with operation and maintenance standards. He coordinates training to enrich overall staff development and performance. Davis communicates with the assigned client representative to ensure that the client’s goals are being met and implements corrective action plans as needed based on customer feedback and his assessments. Davis was subsequently promoted to the Regional Vice President position wherein he is responsible for all aspects of the operation of a portfolio of on and off-campus communities, primarily in the South and Southeast. Davis is also a member Ambling’s Due Diligence Team and assumes additional roles as assigned by senior leadership.
Education/Affiliations Davis has a Master of Science Degree in Communication with a concentration in Public Relations and a Minor in Business Management and a Bachelor of Arts Degree in Mass Communications with Minors in Business and English from the University of Louisiana at Lafayette. Davis is an active member of his church he has attended for 23 years. Davis sits on the church’s Education Board and oversees an After-School Mentoring and Tutoring Program for low-income/single-parent students.
Page 58 of 74
TAB 6 – PROJECT APPROACH
Development Overview
Vestcor Communities is proposing to develop 216 beds of residence hall housing on the campus of Florida Polytechnic University. It is our intent this project would be the first phase of a conceptual master plan for the development of at least 1,000 beds of student housing at Florida Polytechnic University as depicted in Exhibit 1 on the following page. However, we understand the University may see advantages to building in an alternate location or with an alternate design and we are open to those ideas.
This project requires an unleveraged investment to fund the entire amount of the development. We have assembled a group of investors to support this project that are not only committed to investing in this project but are interested in the long term success of the University. Our investors will now have a vested interest in supporting Florida Polytech University and ensuring it succeeds in the early years when support will be most critical.
Our proposed 5 story L-shaped building will be positioned on the back of the housing quadrant identified in the RFSOQ, close to the IST Building and future site of the Wellness Center and easily accessible from the parking lot as shown in Exhibit 2 on the following page. We feel this location will provide a sense of arrival for students and prospective students during the early years of the University.
The master plan in Exhibit 1 includes four phases of on-campus student housing comprising at least 1,000 beds, including both efficiency suites and apartment style living. Based on enrollment projections and housing demand, we anticipate one additional phase would be needed for the start of each successive academic school year. While each phase of this community will function independently with its own indoor and outdoor amenity spaces, as the campus grows the phases will eventually mesh together to become the epicenter of residential life at Florida Polytechnic University. Other components that can be incorporated to support resident life include a permanent dining hall that can be leased back to and eventually owned by the school, a resort-style swimming pool and other outdoor amenities for residents to enjoy such as volleyball, courtyards, greenspace and sitting areas.
Page 59 of 74
Exhibit 1 Student Housing Master Plan Florida Polytechnic University
Exhibit 2 Phase I Residence Hall Florida Polytechnic University
Page 60 of 74 Project Description
The design of the Florida Polytechnic University Housing includes modern amenities students are accustomed to in their own home as well as the features needed to support their educational experience. Today’s Millenial student has ever-expanding needs with regards to how they use technology in their daily lives and as part of their learning. Privacy, safety, convenience, and community amenities are combined in this project with the latest technological advances to create an environment that supports academic achievement in an enjoyable college atmosphere.
Each suite will be approximately 1,150 square feet and will feature four private bedrooms and two bathrooms. Bathroom vanities are located outside the shower and toilet room. Each bedroom will have its own data/voice/cable port. All floor plans are designed to include spacious and efficient living space, including a living room, dining area, and an efficiency kitchen that encourages community and companionship in addition to providing comfortable accommodations. By providing efficiency kitchens, students will be encouraged to support the dining hall that will be operating on campus. Suites come complete with a microwave and refrigerator. We will offer laundry facilities on each floor or include a separate laundry room, equipped with washer and dryer in each suite. We believe providing a washer and dryer in each unit will allow residents to make the most productive use of their time. Electrical service, water/sewer, cable TV and high speed fiber optic internet are all included at no additional charge to the student. All suites are fully furnished. Included below is a representative unit floorplan that will be finalized in conjunction with University input.
Page 61 of 74 There will be 8 one bedroom units each with a separate living room that will comprise the resident hall assistant (“RA”) bedrooms. These rooms will all be handicap accessible units and can be rented to others as we anticipate only using 6 units for RAs. These units are strategically placed in high traffic areas to provide maximum oversight to the residents on each floor.
Our IT consulting group, which we have used on all previous student housing communities, will coordinate wiring specifications, installation, and ultimate service connection with the Facilities Department at the university and the appropriate vendor. They will also coordinate the ongoing support of services throughout the building. We provide a standard cable service package to each unit and bedroom as well as a managed network of data service to each unit and bedroom with an uninterrupted speed of at least 25/5 MPS. We anticipate these same service levels will be available from the current vendors providing service to the campus. Wireless internet will be provided in each unit and throughout the entire building. Secure wifi connections for each unit will be provided to minimize traffic disruptions to the residents.
The amenities at Florida Polytechnic University (FPU) Housing will offer a wide variety of gathering spaces that promote social interaction and support the applied learning philosophy at FPU. The first floor of the Phase I building will include over 8,000 square feet of common space that will include the following amenities:
Entrance/Elevator Lobby Leasing Office Fitness Room Club Room with hospitality and coffee bar Billiards Room Internet café and Computer Lab
Study lounge with group study rooms State-of-the-art fitness center Wi-Fi access Reception desk with package area Mailroom
Vending Area
Page 62 of 74 In addition to these amenity areas, there is a resident lounge on each floor that offers a gathering spot or meeting place. Residents will have 24/7 access to the amenity areas on the first floor. Other amenities included throughout the community including the following:
Secure building access Secure unit access 24 hour emergency maintenance Well-lighted building exterior Closed circuit video monitors throughout common areas Weekly resident activities
Access to the residence hall building will be controlled. Our objective is to manage this building with similar levels of security and access as other buildings on campus. During business hours, the leasing office and entrance foyer will be open to the public. All other building access points, interior amenity areas, residential hallways, units and elevator access will require use of the campus-wide card access system at all times. After hours, the leasing office will be closed and the entrance foyer will require the same level of secure access as the rest of the building. A community-wide surveillance system will be installed that provides constant monitoring of all building access points, common areas, and traffic points around the building.
Ambling’s management staff will be made up of 1 full-time manager, 1 full-time resident life director, 1 full-time maintenance supervisor, and 6 graduate or undergraduate resident assistants. We are open to exploring personnel sharing arrangements with the University for staffing needs such as maintenance and security.
We envision up to three additional phases of residence hall housing will eventually be constructed to complete this master plan. The size of each future phase is flexible to accommodate the housing demand. The fourth and final phase will be apartment style units that will front the pond and provide the architectural framework that was envisioned in the campus master plan. Our intent is that the design of all phases will not only achieve the aesthetic agenda that was contemplated in the campus master plan, but will complement the architectural style of the IST Building, even pulling certain building materials such as exterior metal panels, low E glass, and glazed concrete floors to provide a consistency across campus.
Vestcor Communities has assembled the team that is driven to design, construct and deliver this project ahead of schedule. As such, resident’s official Move-In Day will be August 20, 2014.
Page 63 of 74 Project Timeline
Vestcor Communities will direct the project team from initial concept and design, through construction to ultimate project delivery and management of this residence hall. We have assembled a very experienced team with a proven track record of delivering projects on time and effectively operating these communities for years to come. Each of our team members has a significant presence in Florida, offering immediately available resources to execute this project. Vestcor Communities is headquartered in Jacksonville, Florida. Vestcor affiliated entities currently have 19 apartment communities throughout Florida consisting of over 4,000 units.
Our long working relationship with our architect, Ricardo Quinones of PQH Group, will be a contributing factor in efficiently implementing conceptual design ideas by offering systems and methods of construction which streamline what will be a design/build process. As Director of Design, Ricardo will personally facilitate the design and preparation of all construction documents with his engineers. Ricardo’s personal attention will ensure design milestones are met to make this project a reality. PQH is headquartered in Jacksonville, Florida.
Vestcor Communities has already invested in a conceptual architectural design that we feel is not only attractive and complimentary to the IST building on the exterior, but practical and repeatable for construction while still offering a spacious and appealing housing community upon completion. Our project will comply with the University’s established design and architectural standards and be constructed of concrete and steel. Our project will also comply with the State Requirements for Educational Facilities (Nov. 19, 2012) and the Florida Building Code (2010). Our work to date will allow for expedited completion of construction documents and submission for review.
Immediate availability of the site will be a key component to keeping on schedule. We anticipate that the pad will be delivered by the University and available to access in early November. Based on our development timeline, foundation plans will be available by November 4th, which will allow for immediate plan review, foundation preparation and pouring by the General Contractor. As part of the permitting process, we plan to request an Early Start – Foundation Only permit from the University.
Page 64 of 74 We are excited to partner with Skanska USA on this proposal. Their inclusion as General Contractor not only provides a superb general contractor and vast resources to ensure timely completion of construction, but also invaluable continuity and knowledge on the site given their current role as contractor for the construction of the University’s Innovation, Science, and Technology Building. Skanska’s full mobilization on site already provides immediate time savings to our overall development timeline while continuing the same working relationship with University staff and other key team members.
Included below are a few of the advantages our team will realize by using Skanska as General Contractor:
Understanding of the subsoil conditions and the ramifications on design, cost and schedule. Understanding of the in place-utilities installed by Skanska, including site gas, TECO electric, Brighthouse and Verizon phone and internet services. Established working relationship with permitting agencies, including SWFWMD, City of Lakeland permitting authorities and inspectors, Fire Marshall, and most importantly, Tom Browning, FPU’s Authority that has jurisdiction over the site. Established working relationship with the civil engineers of record, Anderson Lane and Chastain Skillman (who also performed all site surveying and layout). Control of the Site: Skanska can best control the use of the housing site and its associated logistical issues, including laydown, parking, work areas, etc. This is especially important on this project because of the extreme schedule constraints and probable necessity for shift work. Subcontractor Efficiency: It will be possible to achieve best performance reliability from subcontractors that are already on site. Overall risk, cost, quality and schedule will be better optimized by using Skanska’s existing team, which has already demonstrated the ability to manage and deliver a complex project with mostly local subcontractors, suppliers and labor.
Skanska has a significant presence in the State of Florida and anticipates continuing to use many local materialmen and vendors, providing a beneficial economic impact in the surrounding community.
Enclosed following this narrative is a complete project schedule and timeline discussion prepared by Skanska.
Page 65 of 74 Upon construction completion, which has been projected for July 15, 2014 by Skanska, Vestcor Communities will coordinate with its interior design firm and furniture provider to execute the delivery and installation of all unit and common area furniture. A building of 60 units typically requires 4 days for the installation of unit furniture. The interior design firm typically requires 2 days for the installation of all of the common area furniture. Our vendor stages their assembly off-site for efficient installation into the building. Our IT consultants will finalize installation and testing of all equipment, cameras and computers at this time as well. We will be ready for residents to move in on August 20, 2014.
We are pleased to include Ambling Management Company on our team as the property management firm for this development. With approximately 19,000 beds of student housing under management, including over 6,600 on-campus, Ambling is one of the largest student housing management companies in the country. As part of their portfolio, Ambling currently manages student housing communities in the following university markets in the State of Florida: Florida State University, Florida Gulf Coast University, University of Central Florida, University of North Florida, and University of Florida. Ambling also manages each of Vestcor’s student housing communities. Our proven partnership of operating first class student housing communities will continue with this property. Ambling will provide and administer a resident code of conduct for the housing community.
Our marketing department and Ambling can begin working immediately with the Admissions staff to provide marketing collateral to interested parties. We anticipate Ambling will have a presence on campus beginning in January 2014 and will work with the University staff to determine how we can best support their marketing efforts when a student and their family arrive for a site visit. We are open to providing our own temporary leasing facility or working under the same roof in the Admissions Office. In either case, we will invest resources to ensure that a representative model or showroom is available for prospects to tour. We feel the presence of our management staff to explain the housing option will be an important feature that many prospects will enjoy during their tour of Florida Polytechnic University.
Once leasing begins, prospective applicants will be required to meet Ambling’s established resident criteria. This process includes a criminal background and credit check. The community will use great care and will always abide by Federal, State and Local Fair Housing Laws when processing all potential resident applications. Leases will require parental guarantees unless a student can qualify on their own. With a significant presence already in the State of Florida, Ambling will always have resources readily available to support this community. Vestcor
Page 66 of 74 Communities will provide further oversight and direction on the operation of the property to ensure we are satisfying the needs of both our residents and the University.
Our team has already begun a collaborative effort of design concepts and knowledge sharing to ensure we deliver a product that will be viewed as an amenity and selling feature by the University.
Page 67 of 74 Construction Schedule
!e proposed Student Housing structure is based on an approximate 90,000 total gross square footage for the entire building. For construction planning purposes, the building will be broken down into three sections (areas). Each section contains 20 units per section yielding 6,000 square foot pad per section. !e construction of Student Housing will follow three distinct phases: erection of Building Structure, installation of the Exterior of Buildings and the application of Interior Finishes. Each phase is brie"y described below and will approximate the work"ow for each phase.
Building Structure: !e Building Structure is planned to have foundations with concrete footings and piers supporting a steel structure with elevated concrete decks.
Exterior of Buildings: !e exterior metal framing of buildings will be enclosed with Densglass Exterior Board and contain a waterproo#ng membrane covered with painted stucco. Windows and storefronts will provide the entrances and natural light for Student Housing. Interior Finishes: !e interior #nishes will be supported by metal framing with masonry elevator and stairway sha$s. Mechanical, Plumbing, Electrical, and Sprinkler Systems will roughed-in and inspected before covered with drywall and include a textured #nish. !e #nished drywall will be painted and the interior build-out includes #nished cabinets with tops, vinyl "oors and trim applied to all areas. !is trim out will be complemented by appliance installation along with the installation of blinds. A rough clean will be performed before carpet is installed along with a #nal paint touch up if needed. !e #nal cleaning of the Student Housing will be performed before inspections by all local agencies having jurisdiction and Polytechnic personnel.
Proposed Construction Period: !e proposed construction period for erection and buildout is approximately 9 months. Notice proceed is planned for 11/4/13 with substantial completion planned for 7/15/14.
The Florida Polytechnic University Innovation Science and Technology Building team discussing critical path items.
Florida Polytechnic University - Development of Residential Housing Proposed Construction Team
Page 68 of 74 Activity Activity PHASAREAOrigRem% Start Finish 2013 2014 ID Description Dur Dur OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC J PROJECT MILESTONES MILESTONES MILE0900 NTP 0 04NOV13* NTP MILE1000 Substantial Completion 0 15JUL14 Substantial Completion PROCUREMENT PROCUREMENT PROC1000 Steel Desgn 80% Comp-Released to Start Shop Dwgs 0 04NOV13 Steel Desgn 80% Comp-Released to Start Shop Dwgs PROC1010 Prepare Steel Shop Drawings 18 04NOV13 27NOV13 Prepare Steel Shop Drawings PROC1020 Steel Shop Dwg Approval Process 5 02DEC13 06DEC13 Steel Shop Dwg Approval Process PROC1030 Steel Procure Material & Shop Fabrication 18 09DEC13 03JAN14 Steel Procure Material & Shop Fabrication PROC1040 Deliver Steel / Start Erection 0 06JAN14 Deliver Steel / Start Erection AREA 1 BUILDING STRUCTURE P11000 Foundation - Columns & Footings 15 04NOV13* 22NOV13 Foundation - Columns & Footings P11010 Plumbing & Electrician Slab Rough In 7 25NOV13 05DEC13 Plumbing & Electrician Slab Rough In P11020 Prep & Pour - Foundation 15 06DEC13 27DEC13 Prep & Pour - Foundation P11030 Erect Steel & Deck 14 06JAN14 23JAN14 Erect Steel & Deck P11040 Prep & Pour Elevated Deck 14 24JAN14 12FEB14 Prep & Pour Elevated Deck EXTERIOR OF BUILDING P11150 Exterior Framing / Dens Glass 15 13FEB14 05MAR14 Exterior Framing / Dens Glass P11160 Exterior Waterproofing / Windows 7 06MAR14 14MAR14 Exterior Waterproofing / Windows P11170 Install Windows 5 17MAR14 21MAR14 Install Windows P11180 Scaffolding Exterior 5 17MAR14 21MAR14 Scaffolding Exterior P11190 Stucco 12 24MAR14 08APR14 Stucco P11200 Storefronts 5 09APR14 15APR14 Storefronts P11210 Exterior Painting / Sealants 15 16APR14 06MAY14 Exterior Painting / Sealants INTERIOR FINISHES P11240 Core Drilling 5 13FEB14 19FEB14 Core Drilling P11250 Masonry at Elevator & Stairway 10 17FEB14 28FEB14 Masonry at Elevator & Stairway P11260 Interior Framing 15 24FEB14 14MAR14 Interior Framing P11270 Plumbing Rough 8 05MAR14 14MAR14 Plumbing Rough P11280 Mechanical Rough 8 10MAR14 19MAR14 Mechanical Rough P11290 Electric Rough 8 10MAR14 19MAR14 Electric Rough P11300 Sprinkler Rough 8 10MAR14 19MAR14 Sprinkler Rough P11310 Inspections 4 20MAR14 25MAR14 Inspections
Start Date 17APR08 PTDM Sheet 1 of 4 Early Bar Date Revision Checked Approved Finish Date 15JUL14 Progress Bar Skanska USA Building Inc. Data Date 01OCT13 Critical Activity Run Date 03OCT13 09:34 FL Polytechnic Univ Student Housing
Proposal Schedule Layout
© Primavera Systems, Inc. Page 69 of 74 Activity Activity PHASAREAOrigRem% Start Finish 2013 2014 ID Description Dur Dur OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC J P11320 Roofing 20 05MAR14 01APR14 Roofing P11330 Insulate Exterior Wall 5 28MAR14 03APR14 Insulate Exterior Wall P11350 Hang Drywall 6 04APR14 11APR14 Hang Drywall P11360 Finish Drywall 6 14APR14 21APR14 Finish Drywall P11370 Texture Drywall 2 22APR14 23APR14 Texture Drywall P11380 Trim Doors 7 24APR14 02MAY14 Trim Doors P11390 Paint 7 05MAY14 13MAY14 Paint P11410 Cabinets / Tops 5 07MAY14 13MAY14 Cabinets / Tops P11420 Vinyl Floors 5 14MAY14 20MAY14 Vinyl Floors P11430 Plumbing Trim 7 21MAY14 30MAY14 Plumbing Trim P11440 Electric Trim 7 21MAY14 30MAY14 Electric Trim P11450 Mech Trim 7 21MAY14 30MAY14 Mech Trim P11460 Sprinkler Trim 7 21MAY14 30MAY14 Sprinkler Trim P11470 Appliances / Blinds 5 02JUN14 06JUN14 Appliances / Blinds P11480 Rough Clean 5 09JUN14 13JUN14 Rough Clean P11490 Carpet / Touch Up 5 09JUN14 13JUN14 Carpet / Touch Up P11500 Fine Clean / Final Inspections 3 16JUN14 18JUN14 Fine Clean / Final Inspections AREA 2 BUILDING STRUCTURE P21000 Foundation - columns and footings 15 25NOV13 17DEC13 Foundation - columns and footings P21010 Plumbing & Electrician Slab Rough In 7 18DEC13 27DEC13 Plumbing & Electrician Slab Rough In P21020 Prep & Pour - Foundation 15 30DEC13 20JAN14 Prep & Pour - Foundation P21030 Erect Steel & Deck 13 24JAN14 11FEB14 Erect Steel & Deck P21040 Prep & Pour Elevated Deck 14 12FEB14 03MAR14 Prep & Pour Elevated Deck EXTERIOR OF BUILDING P21150 Exterior Framing / Dens Glass 15 04MAR14 24MAR14 Exterior Framing / Dens Glass P21160 Exterior Waterproofing / Windows 7 25MAR14 02APR14 Exterior Waterproofing / Windows P21170 Install Windows 5 03APR14 09APR14 Install Windows P21180 Scaffolding Exterior 5 03APR14 09APR14 Scaffolding Exterior P21190 Stucco 12 10APR14 25APR14 Stucco P21200 Storefronts 5 28APR14 02MAY14 Storefronts P21210 Exterior Painting / Sealants 15 05MAY14 23MAY14 Exterior Painting / Sealants INTERIOR FINISHES P21240 Core Drilling 5 04MAR14 10MAR14 Core Drilling P21250 Masonry at Elevator & Stairway 10 06MAR14 19MAR14 Masonry at Elevator & Stairway
Start Date 17APR08 PTDM Sheet 2 of 4 Early Bar Date Revision Checked Approved Finish Date 15JUL14 Progress Bar Skanska USA Building Inc. Data Date 01OCT13 Critical Activity Run Date 03OCT13 09:34 FL Polytechnic Univ Student Housing
Proposal Schedule Layout
© Primavera Systems, Inc. Page 70 of 74 Activity Activity PHASAREAOrigRem% Start Finish 2013 2014 ID Description Dur Dur OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC J P21260 Interior Framing 15 13MAR14 02APR14 Interior Framing P21270 Plumbing Rough 8 24MAR14 02APR14 Plumbing Rough P21280 Mechanical Rough 8 27MAR14 07APR14 Mechanical Rough P21290 Electric Rough 8 27MAR14 07APR14 Electric Rough P21300 Sprinkler Rough 8 27MAR14 07APR14 Sprinkler Rough P21310 Inspections 4 08APR14 11APR14 Inspections P21320 Roofing 20 24MAR14 18APR14 Roofing P21330 Insulate Exterior Wall 5 16APR14 22APR14 Insulate Exterior Wall P21350 Hang Drywall 6 23APR14 30APR14 Hang Drywall P21360 Finish Drywall 6 01MAY14 08MAY14 Finish Drywall P21370 Texture Drywall 2 09MAY14 12MAY14 Texture Drywall P21380 Trim Doors 7 13MAY14 21MAY14 Trim Doors P21390 Paint 7 22MAY14 02JUN14 Paint P21410 Cabinets / Tops 5 27MAY14 02JUN14 Cabinets / Tops P21420 Vinyl Floors 5 03JUN14 09JUN14 Vinyl Floors P21430 Plumbing Trim 7 10JUN14 18JUN14 Plumbing Trim P21440 Electric Trim 7 10JUN14 18JUN14 Electric Trim P21450 Mech Trim 7 10JUN14 18JUN14 Mech Trim P21460 Sprinkler Trim 7 10JUN14 18JUN14 Sprinkler Trim P21470 Appliances / Blinds 5 19JUN14 25JUN14 Appliances / Blinds P21480 Rough Clean 5 19JUN14 25JUN14 Rough Clean P21490 Carpet / Touch Up 5 19JUN14 25JUN14 Carpet / Touch Up P21500 Fine Clean / Final Inspections 3 26JUN14 30JUN14 Fine Clean / Final Inspections AREA 3 BUILDING STRUCTURE P31000 Foundation - Columns & Footings 15 18DEC13 09JAN14 Foundation - Columns & Footings P31010 Plumbing & Electrician Slab Rough In 7 10JAN14 20JAN14 Plumbing & Electrician Slab Rough In P31020 Prep & Pour - Foundation 15 21JAN14 10FEB14 Prep & Pour - Foundation P31030 Erect Steel & Deck 13 12FEB14 28FEB14 Erect Steel & Deck P31040 Prep & Pour Elevated Deck 14 03MAR14 20MAR14 Prep & Pour Elevated Deck EXTERIOR OF BUILDING P31150 Exterior Framing / Dens Glass 15 21MAR14 10APR14 Exterior Framing / Dens Glass P31160 Exterior Waterproofing / Windows 7 11APR14 21APR14 Exterior Waterproofing / Windows P31170 Install Windows 5 22APR14 28APR14 Install Windows P31180 Scaffolding Exterior 5 22APR14 28APR14 Scaffolding Exterior
Start Date 17APR08 PTDM Sheet 3 of 4 Early Bar Date Revision Checked Approved Finish Date 15JUL14 Progress Bar Skanska USA Building Inc. Data Date 01OCT13 Critical Activity Run Date 03OCT13 09:34 FL Polytechnic Univ Student Housing
Proposal Schedule Layout
© Primavera Systems, Inc. Page 71 of 74 Activity Activity PHASAREAOrigRem% Start Finish 2013 2014 ID Description Dur Dur OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC J P31190 Stucco 12 29APR14 14MAY14 Stucco P31200 Storefronts 5 15MAY14 21MAY14 Storefronts P31210 Exterior Painting / Sealants 15 22MAY14 12JUN14 Exterior Painting / Sealants INTERIOR FINISHES P31240 Core Drilling 5 21MAR14 27MAR14 Core Drilling P31250 Masonry at Elevator & Stairway 10 25MAR14 07APR14 Masonry at Elevator & Stairway P31260 Interior Framing 15 25MAR14 14APR14 Interior Framing P31270 Plumbing Rough 8 03APR14 14APR14 Plumbing Rough P31280 Mechanical Rough 8 07APR14 16APR14 Mechanical Rough P31290 Electric Rough 8 07APR14 16APR14 Electric Rough P31300 Sprinkler Rough 8 07APR14 16APR14 Sprinkler Rough P31310 Inspections 4 17APR14 22APR14 Inspections P31320 Roofing 20 03APR14 30APR14 Roofing P31330 Insulate Exterior Wall 5 25APR14 01MAY14 Insulate Exterior Wall P31350 Hang Drywall 6 02MAY14 09MAY14 Hang Drywall P31360 Finish Drywall 6 12MAY14 19MAY14 Finish Drywall P31370 Texture Drywall 2 20MAY14 21MAY14 Texture Drywall P31380 Trim Doors 7 22MAY14 02JUN14 Trim Doors P31390 Paint 7 06JUN14 16JUN14 Paint P31410 Cabinets / Tops 5 10JUN14 16JUN14 Cabinets / Tops P31420 Vinyl Floors 5 17JUN14 23JUN14 Vinyl Floors P31430 Plumbing Trim 7 24JUN14 02JUL14 Plumbing Trim P31440 Electric Trim 7 24JUN14 02JUL14 Electric Trim P31450 Mech Trim 7 24JUN14 02JUL14 Mech Trim P31460 Sprinkler Trim 7 24JUN14 02JUL14 Sprinkler Trim P31470 Appliances / Blinds 5 03JUL14 10JUL14 Appliances / Blinds P31480 Rough Clean 5 03JUL14 10JUL14 Rough Clean P31490 Carpet / Touch Up 5 03JUL14 10JUL14 Carpet / Touch Up P31500 Fine Clean / Final Inspections 3 11JUL14 15JUL14 Fine Clean / Final Inspections
Start Date 17APR08 PTDM Sheet 4 of 4 Early Bar Date Revision Checked Approved Finish Date 15JUL14 Progress Bar Skanska USA Building Inc. Data Date 01OCT13 Critical Activity Run Date 03OCT13 09:34 FL Polytechnic Univ Student Housing
Proposal Schedule Layout
© Primavera Systems, Inc. Page 72 of 74
TAB 7 – BUSINESS TERMS
Proposed Business Terms
In general, the form of lease included as Exhibit F is acceptable. Below is a summary of some of the major business terms:
Term of Lease – Commencing on October ___, 2013 and terminating 99 years from August, ____2014
Rent - $100 per year. The rent is negotiable on future leases for future phases, if applicable.
Construction – The land on which the Improvements will be constructed will be delivered “pad ready” by the Lessor no later than November 1, 2013. Lessor will provide water, sewer, electricity, internet and cable to the site. Lessee will provide 100% Construction Documents to the University for its approval. In the interest of time, the University shall have 5 business days to review the plans and specifications and provide comments. The University’s comments shall be limited to deviations from the State Requirements for Educational Facilities (November 19, 2012), the Florida Building Code (2010), and the University’s established design and architectural standards (Exhibit E). The Lessee will have sole responsibility for the costs of constructing the Improvements. A payment and performance bond or a guarantee from the contractor will be provided to cover the construction of the Improvements. A representative of Lessee shall meet weekly with Lessor, or a representative of Lessor, during the construction of the Improvements to update Lessor on the progress of construction.
The Improvements shall be completed lien free in accordance with the plans and specifications by August 19, 2014. If the Improvements are not substantially complete by August 19, 2014, Lessee shall pay the cost to house any students that have fully executed leases off campus as well as pay the cost to transport these students to the campus.
Leasehold Financing – Lessee has the right to encumber its leasehold interest as security for financing. Without the prior written consent of the Lessor, neither the land nor the Improvements shall be used as security for financing, and the amount of the financing secured by the leasehold interest shall not exceed 80% of the value of the leasehold interest as determined by an independent appraisal. Unless agreed to by Lessor, Lessor shall not have any obligation or liability related to any financing obtained by Lessee.
Subtenants – Only students matriculating at the University, faculty or visiting faculty shall be tenants of the community.
Marketing – The University shall include this community on its web site, campus, and in all materials provided to prospective students as the sole provider of student housing for the University.
Page 73 of 74 Property Operations – Lessee shall operate, and maintain the community in a manner consistent with the other on campus student housing in the State University System. The University’s rules of student conduct shall be incorporated in the rules for the community. Lessee shall maintain the community in good order and repair and in a safe and sanitary condition, ordinary wear and tear excepted, and reasonably free from trash and debris. Lessee shall be responsible for all services for the interior of the community. The Lessee will work with the University related to services for the exterior of the community, including landscaping, security, and trash removal. Lessee will be responsible for paying all property taxes assessed as a result of the Improvements. Lessee will reimburse the University, at the University’s cost according to agreements the University has executed, for Lessee’s usage of water, sewer, electricity, internet, and cable.
Rental Rates/Financial Reporting – Lessee and Lessor shall meet annually to discuss rental rates. The rental rates shall be comparable to rental rates charged by other comparable on campus student housing in the State University System. Lessee shall have no financial reporting requirements to Lessor.
Insurance - Lessee shall provide worker’s compensation insurance in compliance with Florida laws, general liability insurance with a $1,000,000 per occurrence and $2,000,000 aggregate coverage, excess liability coverage of $10,000,000, and property coverage for the full replacement cost of the Improvements with a maximum $25,000 deductible, except the maximum deductibles for named storm will be 5%, earthquake will be $250,000 and flood will be $500,000.
Assignment of Lease – The lease can be assigned at any time by Lessee subject to Lessor approval of new Lessee.
Right of First Refusal – If Lessee presents to Lessor an offer from a new Lessee to assume the lease, Lessor shall have the right to terminate the lease by paying the Lessee the amount the Lessee would have received as part of the assignment transaction.
Net Operating Income Guarantee - If the University decides to move forward with additional on-campus housing to be constructed and owned by anyone other than Lessee, or an affiliate of Lessee, the University and Lessee shall enter into an agreement that includes a guarantee to the Lessee at a certain net operating income.
Delinquency Enforcement – The University will assist Lessee in its efforts to collect outstanding balances owed to Lessee by any Subtenants by placing a hold on transcripts, grades, and/or future registration until such balances are paid.
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