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Contractor Bids & Lease Agreement

Contractor Bids & Lease Agreement

All of the bids are in for the build out of the new building. All the contractors were given the same scope to bid on and we knew going into it that we were asking for more than we were budgeted for. We did that on purpose so we could pick and choose which items we wanted to do and which ones to lose. All the bids came in and they were definitely more expensive than we expected. It will take more value engineering than we expected to do to get to a place where we’re comfortable with and that is within our budget. We’re going to narrow down the scope to what is necessary and narrow the contractors down the our final two and see which one can do the job for the budgeted amount.

And finally, we received the approved lease agreement today. Kind of backwards, spend weeks in the building then get the lease but oh well. We got the agreement so hopefully we’ll be signing very soon.

John Lux
As COO of IDEAS, John manages the day-to-day operations of the company. He is a category expert in studio production and is responsible for bringing advanced digital media technology to IDEAS.