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Board approves guaranteed‑maximum‑price amendments for two school construction projects
Summary
The board approved guaranteed maximum price (GMP) amendments to Panzika’s construction manager‑at‑risk contract for two school buildings after the administration described the GMP process and contingencies; the motions passed 4–0 and Panzika and GPD representatives were present to answer questions.
The Bedford City School District board on June 26 approved guaranteed maximum price (GMP) amendments to the district’s construction‑manager‑at‑risk contract with Panzika for two school projects: the new middle‑school building (referred to as the “Bridal” project in materials) and the new K–2 building.
The administration explained the GMP is part of the construction‑manager‑at‑risk…
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