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Vidor ISD board approves guaranteed maximum price for middle school, elementary projects
Summary
The Vidor Independent School District Board of Trustees voted 4-0 March 24 to approve guaranteed maximum price amendments for two construction projects — Vidor Middle School and Oak Forest Elementary — moving the projects into contracting after the CMAR reported both came in under the voter-approved budgets.
VIDOR, Texas — The Vidor Independent School District Board of Trustees voted 4-0 March 24 to approve guaranteed maximum price (GMP) amendments for two construction projects, Vidor Middle School and Oak Forest Elementary, advancing preconstruction into the contract phase.
The board’s approval, offered in a motion by Trustee Vincent and seconded by Trustee White, passed unanimously with four members present and three absent. The Construction Manager at Risk (CMAR) team asked the board to approve the GMPs after receiving subcontractor proposals and pricing. "This project came in $162,000 under budget and that is after including a $210,000 contingency," the CMAR presenter said for Oak Forest. For the middle school, the presenter said the project "is $311,000 under budget and that includes a construction manager's contingency allowance of $403,000." The CMAR estimated the two projects together represented roughly $714,000 in savings if no contingency funds are expended.
Why it matters: approving GMPs moves both projects from planning into…
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