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Commission authorizes Phase 2 GMP and financing as Aggieville construction moves into next stage
Summary
The commission approved an amendment to the construction manager‑at‑risk agreement and related financing to continue Aggieville street and utility work, including Laramie and Twelfth Street phases. Staff and business district partners described a public information campaign to help businesses and visitors during construction.
The Manhattan City Commission on May 6 authorized an amendment to the construction manager‑at‑risk agreement and associated financing to continue aggressive infrastructure work in Aggieville, including Laramie Street and a segment of Twelfth Street, and consolidated bond financing for the phases.
Deputy City Manager Jason Hilgers told the commission the city is combining earlier phase financing with a new guaranteed maximum price (GMP) for phase 2. “A lot of the action tonight is first and foremost, guaranteed maximum price for phase 2,” Hilgers said, and identified the phase‑2 GMP as roughly $7.8 million and recalled the previously approved phase‑1 GMP at about $5.4…
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