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Regents Approve Construction‑Related F5 Despite Objection Over Guaranteed‑Max Practice
Summary
The Board approved Item F5, a finance item involving cost increases on a delegated project; Regent Makarishan objected to the practice of entering guaranteed‑maximum price contracts then returning for substantial augmentation (he cited a roughly 33% increase) and said he would abstain or withhold support.
Regents approved Item F5, which concerns a campus construction project that began under delegated authority and later required additional funding. Chair Cohen summarized that the project’s cost increases were outside the university’s control and warranted board action because they exceeded delegated authorities.
Reg…
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