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• <br /> March 6, 2013 <br /> Memorandum <br /> Verbal agreement between-Jose Milton (4M-investors) and Honorable <br /> Mayor Norman Edelcup (City Mayor). <br /> Jose Milton agrees in a reduction of the total price.of the new.contract-of <br /> $1,225,000.00 for a total including the new design fees of the new project for a <br /> total of $17,440,000:00. The $440,000.00.over $17;000,000.00 is the additional <br /> cost for the metal panels of the garage $423,813.70 submitted to the City on <br /> February 20, 2013 plus 4% increase, It makes'$440;000.00. Additional donation <br /> made when the. City ordered Breaking Grotind Of project, 800 lineal feet of <br /> decorative fence cost of$120,000.00 previously requested by theCity. <br /> Previous reduction requested by Hon. Mayor Edelcup (2nd Amendment) for <br /> stage park and garage 5% total cost. This reduction now of $1,225,000.00 is <br /> approximately 6.5% of total cost make a total reduetion for the project of 11.5%. <br /> Second donation that will be made to. the City by Jose Milton is the <br /> Pedestrian Bridge at cost if the City gives to the Architect the information <br /> - et t. start design Of the Pedestrian Bridge. The City needs to have FPL, <br /> k h4 FDOT, and Plaza of America negotiations completed within 90 days after the <br /> r1�d construction commences on the park/garage or by January '1,. 2014, whichever <br /> comes first. <br /> Definition of cost: Purchase cost of labor or material plus 10% overhead <br /> cost which.is the minimum in the industry. Nobody charges less than 10%. It will <br /> be zero profit to.Contractor. <br /> • <br />