Northwestern Mutual Releases SBE and RPP First Quarter Report for 2014
By: Melanie Mager
Earlier this month, Northwestern Mutual released their quarterly SBE (Small Business Enterprise) and RPP (Residential Preference Program) Report prepared by Prism Technical Management & Marketing Services LLC, for the first quarter of 2014. For this project, Northwestern Mutual agreed to utilize certified SBEs for 25% of construction costs, and 40% RPP for worker hours, as a condition of receiving $54 million in TIF from the City of Milwaukee. According to the report, the project is meeting all requirements thus far for both SBE and RPP participation. See the report here; some key points are highlighted below.
• Through March 31, 2014, total project expenditures subject to the human resources agreement were $10,069,834. Total SBE participation was $2,431,480 or 24.1 percent.
• SBE firms are expected to receive 35.3% of project-related professional service expenditures.
• SBE firms received 25.6% of the total contract value of the decoupling project.
• SBE firms are expected to receive 25% of the total deconstruction project.
• SBE firms received 36.4% of the total utility relocation project.
• Through March 31, 2014, total RPP participation was 43.5% of total hours worked on the project
• 38.4% of the hours worked on the decoupling project were RPP
• 42.7% of the hours worked on the deconstruction project were RPP
• 60% of the hours worked on the total utility relocation project.