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Riviera Beach utility board: GMP negotiations put plant price at $280M; overall project pegged near $400M, staff warns residents to expect rate increases
Summary
Officials said GMP 5 negotiations put the treatment-plant portion at about $280 million, with conveyance and ancillary work pushing the total project to roughly $400 million; staff and outside advisers warned the cost will likely require higher utility rates unless grant or loan offset is secured.
The City of Riviera Beach Utility Special District heard progress reports on Guaranteed Maximum Price (GMP) negotiations and a detailed briefing on how the project will be funded.
Nigel Grace of Brown and Caldwell told the board that “the progress has been quite significant” since GMP 5 was submitted Oct. 31, and that a few outstanding items remained to be resolved with the joint venture so a final GMP could be presented to the board, possibly at a special meeting this month. Mike Poisington, representing the Haskell/CDM Smith joint venture, said the GMP currently “is at $280,000,000 for the project, for the GMP,” and that the figure covers the plant portion only. Poisington also said the JV will commit to a 15% local participation target for Palm Beach County contractors.
Director Patrick Neiman…
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