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Needham committee keeps 15% contingency on library Phase 1 as bids approach
Summary
Committee members reviewed 80% construction documents and cost reconciliation for Library Phase 1, kept a 15% owner/construction contingency, discussed tariff and material risks, and approved two project invoices.
Permanent Public Building Committee members reviewed the 80% construction documents and cost reconciliation for the Library Phase 1 project on March 10 and decided to maintain the project contingency at 15 percent while bidders are still unknown.
Hank (last name not provided), the presenter, said the 80% construction documents were advertised and that cost estimating at the 80% level showed projected costs aligning with the earlier design development totals; the design and pricing contingency had been redistributed into the projected costs.…
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