MEMORANDUM
DATE: February 29, 2012
TO: Rob Fischman, Associate Vice President, University Advancement
From: David M. Touchton, Interim Regional Chancellor USF Polytechnic
CC: John Long, Nick Trivunovich, Alice Murray, Josh Bresler
RE: Transfer of Funds to Construction Project
Please find enclosed copies of the fully executed Construction Management at Risk Services for USF Project #555 between USF Board of Trustees, a public body corporate and Skanska USA Building Inc. (Skanska) original contract as well as fully executed Amendments 1 and 2. Amendment 2 represents the Guaranteed Maximum Price for the USF Polytechnic Phase I Facility (Innovation Science and Technology building) of $59,991,938. This amount is within the budget of $60,000,000 for the facility.
The project schedule dictates that a Notice to Proceed needs to be received by Skanska no later than March 12, 2012 in order to ensure that prices and schedule are met. USF Polytechnic is about to encumber the total funds necessary to support the project in order to issue the Notice to Proceed. The project is funded from a combination of funds including a private funded portion. I request that this portion of the project funding now be transferred to the project account in order to complete the total funds required. This amount is $10,813,861.94. Please transfer these funds by either of the following methods:
Method 1: transfer funds by submission of a check made payable to the University of South Florida to be deposited in the construction trust fund account, chartfield string:
GL Unit USF01
Operating Unit LKL
Fund 50000
Account 49707
Project PF455312390803
Method 2: preferred method is an electronic funds transfer payable to the University of South Florida, account number WBUL – 200027203066, routing number 063000021.
Please forward a copy of deposit information to Geralyn Bonfiglio-Sells, Campus Planning, LTB 1138.
Thank you for your assistance in the transfer of these funds in order to facilitate project development. If you have any questions, please do not hesitate to contact Alice Murray at 7-7014.