National Park Service contract awarded for historic bank rehabilitation in Philadelphia
Contract Overview
Contract Amount: $32,850,386 ($32.9M)
Contractor: THE Bedwell Company
Awarding Agency: Department of the Interior
Start Date: 2023-06-01
End Date: 2026-06-15
Sector: Construction
Official Description: REHABILITATION OF FIRST BANK, INDEPENDENCE NATIONAL HISTORICAL PARK, PHILADELPHIA COUNTY, PENNSYLVANIA.
Plain-Language Summary
Department of the Interior obligated $32.9 million to THE BEDWELL COMPANY for work described as: REHABILITATION OF FIRST BANK, INDEPENDENCE NATIONAL HISTORICAL PARK, PHILADELPHIA COUNTY, PENNSYLVANIA. Key points: 1. Significant investment in preserving a key historical landmark. 2. Competition details are not fully available for this award. 3. Potential risks include project delays and cost overruns in complex renovations.
Value Assessment
Rating: good
The contract value of approximately $3.3 million represents a substantial commitment to the rehabilitation project. Further details on the cost breakdown and value engineering are not readily available.
Cost Per Unit: N/A
Competition Analysis
Competition Level: unknown
The contract type is a definitive contract, indicating a fixed price agreement. Information regarding the specific procurement method and competition level is not provided.
Taxpayer Impact: Taxpayer funds are being used to restore a significant historical site, potentially enhancing tourism and local economic activity.
Public Impact
Restoration of the First Bank building will preserve a piece of American financial history. Improved accessibility and preservation may lead to increased visitor engagement at Independence National Historical Park. The project could create local jobs during the construction and rehabilitation phases.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Potential for unforeseen structural issues in a historic building.
- Coordination challenges with multiple stakeholders at a national park.
Positive Signals
- Contract awarded to a specific company, suggesting a selection process occurred.
- Clear project scope for rehabilitation and preservation.
Sector Analysis
This project falls within the historical preservation and construction sector, focusing on the restoration of significant architectural heritage.
Small Business Impact
The contract was not set aside for small businesses, and it is unclear if small businesses will be involved as subcontractors.
Oversight & Accountability
The National Park Service, an agency within the Department of the Interior, is responsible for overseeing this contract. Accountability will be managed through standard federal contracting oversight mechanisms.
Related Government Programs
- Historic Building Rehabilitation
- National Park Service Projects
- Independence National Historical Park
Risk Flags
- Historic Preservation Challenges
- Complex Renovation Projects
Tags
historic-preservation, national-park-service, philadelphia, construction, historical-landmark, department-of-the-interior
Frequently Asked Questions
What is this federal contract paying for?
Department of the Interior awarded $32.9 million to THE BEDWELL COMPANY. REHABILITATION OF FIRST BANK, INDEPENDENCE NATIONAL HISTORICAL PARK, PHILADELPHIA COUNTY, PENNSYLVANIA.
Who is the contractor on this award?
The obligated recipient is THE BEDWELL COMPANY.
Which agency awarded this contract?
Awarding agency: Department of the Interior (National Park Service).
What is the total obligated amount?
The obligated amount is $32.9 million.
What is the period of performance?
Start: 2023-06-01. End: 2026-06-15.
Analysis insight 1
The contract's definitive nature suggests a well-defined scope of work.
Analysis insight 2
The rehabilitation timeline spans over three years, indicating a complex undertaking.
Analysis insight 3
The award amount suggests a significant scope of restoration and preservation activities.