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Board hears $80Mto125M bond projects update; rising construction costs and PSFA support noted
Summary
District staff described status of the 2024 bond program, reporting larger-than-expected cost increases across multiple projects, PSFA funding commitments and plans to seek additional voter authorization.
Rio Rancho Public Schools briefed the board on the status of 2024 bond-funded projects and budget pressures caused by higher construction costs.
The nut graf: Chief of Operations Mike Baker said the scope of work on several projects remains but that escalating construction prices have raised estimated total costs from an originally projected $80 million to roughly $103 million; combined with Public School Facilities Authority (PSFA) funding the districtstotal project obligations may reach about $124to $125 million.
Key project updates - Career and Technical Education (CTE): Baker said the CTE facility is nearly complete, with a substantial-completion extension to April 19; the project budget was described as "just under 48,000,000" and includes solar cell alternatives. Central New Mexico Community College (CNM)…
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