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Committee reviews wide range of project cost estimates; staff to return with financing scenarios
Summary
Project estimators presented a range of construction and project-cost estimates for different schematic options. Staff and city finance representatives discussed likely MSBA reimbursement (staff estimated roughly 50% as an initial expectation) and said they will present detailed financing scenarios at the next meeting.
Project cost estimates presented to the Salem High School Building Committee showed a wide range depending on the selected scheme and the degree of renovation versus new construction. Project staff emphasized the estimates are preliminary and intended to provide a relative cost comparison at the PDP stage.
An independent estimator produced construction-cost lines for several schematic options (repair-only, renovation, ad-reno/mirror, loop/new construction, radial/wrapped, S-scheme). Staff explained that the construction-cost line feeds into a project-cost figure after adding professional fees, contingency…
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