UCB001321-13.00-Liquidated Damages.docx

This document is a Liquidated Damages notification for the University of Colorado Boulder's SITE-Lot 548 Reconstruction Project (UCB001321), detailing specific contractual terms for parking lot reconstruction. The project involves complete removal and replacement of approximately 70,000 square feet of parking lot 548, with a strict timeline mandating demolition start on June 1, 2025, and substantial completion by August 15, 2025. The contractor must repave the lot, stripe parking stalls, and complete lighting modifications within this timeframe, with a separate stormwater quality interceptor scope to be completed after initial substantial completion.

The document establishes clear financial penalties for project delays, with liquidated damages assessed at $2,702 per day beyond the August 15, 2025 completion deadline. The calculation is based on the lot's 193 parking stalls, with the university seeking 50% compensation for lost parking revenue at a rate of $28.00 per stall per day. This approach demonstrates the university's commitment to minimizing disruption to campus parking services and ensuring timely project completion, with significant financial consequences for contractual non-compliance.