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Board approves $29.42 million guaranteed maximum price and related funding for Millington Middle School project
Summary
The Millington Municipal Schools Board approved a $29,421,780 guaranteed maximum price with Linkus Construction Co. and related budget and contract actions tied to the Millington Middle School project, including a $3.375 million capital amendment and a required USDA inspector contract.
Millington Municipal Schools Board of Education on Aug. 4 approved a guaranteed maximum price (GMP) of $29,421,780 from Linkus Construction Company, Inc., for the Millington Middle School (MIS) project and approved related budget and contract actions to fund and oversee the work.
The GMP vote followed a presentation that the price is the maximum the contractor can charge under the contract. “This is the maximum that the price can be,” the Director of Schools said during the discussion, adding that the cap prevents the contractor from charging more if costs rise. The board approved the GMP by roll call; all members present voted yes.
Why it matters: the GMP locks a ceiling on the construction manager’s charge for the MIS project and was paired with a capital funds amendment and procurement moves the district said are needed to keep the project on schedule.
Board action and funding details - Guaranteed maximum price:…
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