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Board approves preliminary guaranteed maximum price for Northwest Area Elementary project
Summary
The board approved a preliminary guaranteed maximum price amendment allowing the construction manager at risk to accept specialty contractor bids not to exceed $54,324,989 for the Northwest Area Elementary School; staff said a final GMP will follow after trade contract bids and that the PGMP supports the district’s LGC submission.
The Cabarrus County Board of Education voted April 6 to approve a preliminary guaranteed maximum price (PGMP) amendment for the Northwest Area Elementary School project.
Staff presented a PGMP amendment with Rogers Builders (the approved construction manager at risk) that authorizes the construction manager to accept specialty contractor bids for the cost of work not to exceed $54,324,989. Staff said the PGMP is needed to support the district’s submission to the Local Government Commission; after receipt and acceptance of trade contract bids a final guaranteed maximum price amendment will be prepared and brought back to the board for approval. Staff also said the PGMP process mirrors work used on recent district projects and that contingency, fee percentages and other contract terms will not change in the final amendment, though bond and insurance costs will be adjusted as required.
Board member Sam moved to approve the preliminary GMP as presented; the motion was seconded and the board approved the PGMP by voice vote. Staff noted the PGMP authorization does not replace statutory bidding requirements and that the final GMP and any executed trade contracts will be provided to the board before final contractual commitments are made.
