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<br />"~I <br /> <br />OJIH7 <br /> <br />.'l <br /> <br />Mountain Ute Tribal Council convenes to vote upon the Contract and if approved si.gns the <br />Resolution and Contract.. <br /> <br />PL 93"638 Subpart J, allows the contractor, WCA, "a fair profit determined by taking into <br />consideration the relevant risks and local market conditions." Within the proposal prepared by <br />WCA is the presentation of a profit rate that is within the industry standards and is calculated <br />based upon the relative risk of each Contract. Typically, the Contracts awarded contain an 8%- <br />9% profit rate. The profit rate is negotiated along with all the other components of the project in <br />the same manner. <br /> <br />Modifications and change orders are negotiated in a similar manner to the Contracts. The need <br />for contract modifications and change orders is generally identified by the BOR. The <br />modifications thus far have mainly involved adding previously scheduled work for future <br />contracts to existing contracts b~cause additional funding became available. WCA assists the <br />BOR in identifying work that can provide savings to the project or that aids in the scheduling of' <br />future work. Similar to the initial contract negotiation process, WCA is provided in the setting <br />of a modification or addition to the contract a Request for Proposal for Modifications to the <br />Contract which includes a Scope of Work, specifications and plan to prepare a written bid form. <br />The modification is negotiated, agreed upon and awarded through a written document which is <br />then added to the existing Contract. <br /> <br />The Ute Mountain Ute Tribe and Weerninuche Construction Authority are devoted to the <br />successful, timely and cost effective completion of this project-designed to serve the long term <br />water supply needs of all residents of southwest Colorado and northwest New Mexico. <br />