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File #: 2020-0212   
Type: Informational Report Status: Agenda Ready
File created: 3/17/2020 In control: Construction Committee
On agenda: 5/21/2020 Final action:
Title: RECEIVE AND FILE status report on the 2020 Los Angeles Construction Market Analysis report.
Sponsors: Construction Committee
Indexes: Bids, Capital Project, Construction, Contractors, Coronavirus Disease 2019 (COVID-19), Diseases and medical conditions, Informational Report, Jobs, Labor
Attachments: 1. Attachment A - Construction Market Analysis 2020, 2. Attachment B - Metro Construction Market Analysis Addendum
Date Action ByActionResultAction DetailsMeeting DetailsAudio
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Meeting_Body
CONSTRUCTION COMMITTEE
MAY 21, 2020

Subject
SUBJECT: 2020 LOS ANGELES CONSTRUCTION MARKET ANALYSIS

Action
ACTION: RECEIVE AND FILE

Heading
RECOMMENDATION

Title
RECEIVE AND FILE status report on the 2020 Los Angeles Construction Market Analysis report.

Issue
ISSUE

To better understand the factors influencing construction bid prices and Metro's ability to deliver the largest transportation construction program in the country, a construction market analysis was performed in 2018 following the passage of Measure M. A 2020 study has now been conducted to update the construction market analysis to today's current conditions and to identify factors influencing bid prices, labor availability and develop mitigation strategies. Current and future market conditions were assessed to determine factors influencing construction bidding activities and our ability to deliver Metro's capital program, including projects approved as part of Measure M. Since the Construction Market Analysis was finalized in March 2020, we have prepared an addendum (see Attachment B) that assesses the impacts of COVID-19.

Background
BACKGROUND

The 2020 Los Angeles Construction Market Analysis report is a comprehensive analysis of construction market factors and trends since the last report that was completed and presented to the Board in 2018. The Construction Market Analysis objectives were to gather information to evaluate the global, national, regional, and local economy as it relates to construction cost and bidding trends, the current and future amount of construction activities in the region and measure its impact on the proposed work in the region, and the macroeconomic employment trends and skilled labor availability.

Discussion
DISCUSSION


The desired outcome of the 2020 Los Angeles Construction Market Analysis report is to continue our understanding of the factors influencing construction costs in the Los Angeles market, develop pricing projections for fut...

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