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City project team says construction contingency $2.1M; buyout savings and low change-order rate leave room for FF&E and tech purchases
Summary
The project team told the committee the funding agreement includes roughly $2.1 million in construction contingency and about $830,000 in owner soft-cost contingency; change orders to date are modest and earlier buyout savings improved the budget position. FF&E and technology procurement timelines were discussed.
Project staff told the Holyoke Public Schools Building Committee that the project budget includes roughly $2.1 million in construction contingency and about $830,000 in owner soft-cost contingency to cover furniture, fixtures, equipment and additional services.
“We have the hard cost construction contingency we have in the agreement is about 2.1 — it's a little over $2,100,000,” Margaret, the project lead, said while reviewing the funding spreadsheet and bid results. She said the bids ultimately yielded buyout savings that were set aside in the project budget to address change…
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