The following terms shall have the following meaning: "Best value" means a selection process in which proposals contain both pricing and performance components, an award is based upon a combination of pricing and performance considerations to determine the offer deemed most advantageous and of the greatest value to the state spending authority. "Construction fee" means a combination of home office overhead and profit for services provided during the construction phase of the project, as definedu in the contract documents. "Construction management at-risk contract" means a contract by which a construction manager: (1) Assumes the legal responsibility to deliver a construction project within a contracted price; l (2) Acts as a construction consultant to the state and/or its subdivision during the design development phase of the project when the state and/or its subdivisions architect or engineer designs the project; and (3) Is the builder during the construction phase of the project; "Construction manager" means the legal entity that proposes to enter into a construction management at-risk conLtract pursuant to this article; "General conditions" means materials, services, and equipment necessary to perform the work but that are not incorporated into the project as defined in the contract documents; "Letter of interest" means a statement indicating interest to enter into a construction manWagement at-risk contract for a public project pursuant to this article; "Lowest qualified responsible bidder" shall have the same meaning as that term is used in §5-22-1(b) of this code; "Preconstruction fee" means a combination of home office overhead and profit for services provided during the preconstruction phase of the project, as defined in the contract documents; "Proposal" means an offer in response to a request for proposals by a construction manager to enter into a construction management at-risk contract for a project pursuant to the provisions of this article; "Request for qualifications" means the documentation or publication by which a state and/or its subdivisions solicits letters of interest detailing a firm's qualifications for a specific project; "Request for proposals" means the documentation by which a state and/or its subdivisions solicits proposals; "The state and/or its subdivisions" means the state of West Virginia, every political subdivision thereof, every administrative entity that includes such a subdivision, all municipalities, and all county boards of education.
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