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Council approves $10 million guaranteed maximum price and notes to build Fire Station No. 5
Summary
The Strongsville City Council adopted a guaranteed maximum price amendment and authorized up to $10 million in notes to fund construction of Fire Station No. 5 on Royalton Road; finance staff said notes will be issued short-term and bonded after construction.
Strongsville City Council on Oct. 6 adopted an ordinance approving the first guaranteed maximum price (GMP) amendment with RFC Contracting LLC for a proposed Fire Station No. 5 on Royalton Road and authorized the issuance of short-term notes to fund the project.
Ms. Kozak, chair of the Public Safety and Health Committee, said the GMP will set a “not-to-exceed” amount for the build and argued locking the price is a community benefit given rising construction costs. “This is the…
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