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Committee reviews schematic-design budget, MSBA timeline and contingency assumptions
Summary
Project team reviewed near-term milestones (Dec. 3 virtual check, Dec. 17 submission vote, MSBA board Feb. 25) and walked the committee through budget buckets, contingency assumptions and MSBA reimbursement changes; the finance working group approved invoices totaling $124,777.68.
Presenters gave a schematic-design and budget update tied to upcoming MSBA deadlines and explained the project's high-level cost structure and contingency assumptions. The team scheduled a virtual meeting on Dec. 3 to reconcile final cost estimates before MSBA submission and a December 17 in-person meeting to vote on schematic-design submission; the MSBA board is slated to consider funding on Feb. 25.
The presenter said MSBA reimbursement was conservatively assumed at about 50% historically but that recent MSBA changes (effective Jan. 1) bumped several reimbursement caps and improved the outlook for this project. He noted contingencies used in discussion — for example, a 3% construction contingency for estimating purposes and soft-cost contingency assumptions — and explained that some reimbursement categories (owner's project manager and basic services) are percentage-based under MSBA rules (example caps cited: OPM 3.5%, basic services 10%).
The committee's finance working group approved an invoice package that included Anser for $18,482.50 and Perkins and Will for $106,295.18, a combined total of $124,777.68, which the committee recorded as approved. Presenters emphasized that many budget figures are intentionally conservative at this stage and that more refined numbers will be provided at the Dec. 3 reconciliation meeting and the December 17 submittal vote.
Next steps spelled out to the committee were the Dec. 3 virtual estimate reconciliation, distribution of draft schematic materials about a week before the Dec. 17 meeting, and the MSBA review period over the holidays leading up to the Feb. 25 board meeting.
