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Board approves $7.17 million guaranteed maximum price for Cedar Park High modernization
Summary
Trustees unanimously approved Guaranteed Maximum Price (GMP) No. 3 for the Cedar Park High School modernization project; administration said the project funding was balanced with savings from other bond projects and remains on schedule.
The Leander ISD board approved the guaranteed maximum price (GMP) No. 3 of $7,170,365 for the Cedar Park High School modernization project by unanimous voice vote.
Administration told trustees the approval follows prior bond planning and savings reallocation. Pete Poppy, the district’s chief financial officer, told trustees that realized savings from another project (Vista Ridge) had been redirected to cover the Cedar Park modernization and that the district remains on track to complete projects in the 2023 bond while holding to a projected overall tax‑rate plan. “We are still on track,” Poppy said, adding that staff expect to maintain the board‑approved property‑value assumption and a combined tax‑rate plan.
Trustees discussed state‑level legislation under consideration tied to interest and debt service (INS) and the possibility it could affect other districts’ INS rates; administration said the draft legislation might affect some districts’ tax metrics but would not imperil the 2023 bond commitments. Trustees asked for continued updates as state budget and bond‑related legislation moves through the legislature.
The motion to approve GMP No. 3 passed unanimously. Administration said the project would proceed as planned and that staff will return with routine construction updates to the board and the bond oversight committee.
