RECOVERY - Adjustment in Magnitude of Scope for Damages due to Flood Event

The contract pertains to a unilateral modification involving the Retamal Dam Levee Project, specifically under the firm fixed price contract IBM10C0007 awarded to SBBI, Inc. Due to technical evaluations conducted after recent flood events, $1,600,000 has been deobligated from the previously issued unilateral modification M002. This adjustment reflects a revised assessment of the levee's actual conditions, which has impacted the scope and cost of the project. Negotiations will continue based on the contractor’s request for an equitable adjustment to address the changed circumstances. The final negotiated modification is expected to be issued under the existing contract and may be publicly synopsized as it results from a previously competed procurement. The project is situated in Texas, covered under NAICS code 237990, and managed with coordination from the designated point of contact, Hugo E. White, to ensure proper communication during the adjustment process.