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School project saves 16 million with new funding strategy

September 25, 2024 | ALAMO HEIGHTS ISD, School Districts, Texas


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School project saves 16 million with new funding strategy
During a recent government meeting, officials discussed the Guaranteed Maximum Price (GMP) for the Allen Heights High School project. Mike Baker presented two bids for the construction of a new academic and administrative building at the school. The lowest bid was $9,127,000.

This new cost will be added to the previous three GMPs, bringing the total project cost to $101,000,000. Initially, the planning for the high school included a bond issue of $117,000,000. The project was originally set to be built in three phases. However, the decision to consolidate the phases into one has resulted in significant savings.

The consolidation has saved approximately $16,000,000 from the original budget. The meeting concluded with a call to approve the new GMP for the project, marking a positive step forward for the Allen Heights High School development.

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Scribe from Workplace AI
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