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Kane County approves guaranteed maximum price of $6.395M for recreation center
Summary
The Kane County Commission approved a guaranteed maximum price of $6,395,758.63 for the new recreation center and authorized project mobilization; contingency and external district funds were cited as coverage for potential overruns.
The Kane County Commission unanimously approved a guaranteed maximum price (GMP) agreement for the county’s recreation center on April 29, setting the GMP at $6,395,758.63 (excludes estimates for the detention pond and retaining wall). Project staff said construction cannot start until the GMP is signed and that the GMP includes a contingency line item of approximately $135,000 to address…
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