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Station Street project sees cost escalation after added signal work; town seeks transfer funding
Summary
Engineering staff told the Board that Station Street construction now carries a $346,000 estimated construction cost and that NH DOT-required signal engineering and market bid increases have driven a need for supplemental funding beyond the original $200,000 appropriation.
Town engineers briefed the Board of Finance on Oct. 21 about the Station Street project and a sharp rise in expected construction costs tied to signal work and current market bids.
Staff said the original fiscal 2024 appropriation for Station Street was $200,000, of which $160,000 had been expected to come from a STEAP grant and $40,000 as a local match. Subsequent design requests from the state Department of Transportation required additional traffic-signal engineering and survey work. That requirement, together with current construction-market prices, pushed the town’s current estimate for the project’s construction value to about $346,000.
The board was told the town’s engineering staff performed much of the design work in-house, and that the project had been delayed while other large local projects proceeded. Staff described the $346,000 as a working figure intended to accommodate competitive bid fluctuation.
No formal vote was taken Oct. 21; staff said the Station Street supplemental appropriation will be processed through year-end transfers, and that any unused funds will be returned. The board asked staff whether the new signal work was anticipated earlier; staff said DOT staffing and interpretation changes led to the added scope.
Town staff said they will advertise the work for bid in winter and return with transfer motions during the year-end transfers process.
