Lowell school project team warns contingency nearly exhausted; seeks additional funds while negotiating $25M extension

Summary

Project team told the Lowell School Building Committee that renovation surprises have strained contingency funds, with $21.2 million originally carried and roughly $16.2 million spent; the team said it expects contingency to be depleted by the start of next year and is negotiating an estimated $25 million schedule-extension request.

The Lowell City School Building Committee heard on a project update that renovation conditions in the historic Lowell High School have driven unexpected costs and will require additional contingency funding.

Project presenters from Suffolk, Skanska and Perkins Eastman told the committee that the team originally carried $21,200,000 in contingency for the renovation portion of the work and has spent about $16,200,000 through 35 change orders to date. Pending change requests the team identified total about $6,400,000, leaving the construction contingency at roughly $4,900,000; presenters said the remaining contingency is forecast to be depleted by the first of the year unless replenished.

That shortfall underpins a two-part request discussed at the meeting: (1) a contingency replenishment estimated at about $13,000,000 to cover remaining change orders…

Lowell school project team warns contingency nearly exhausted; seeks additional funds while negotiating $25M extension

Summary

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