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Otis Library building committee reviews construction cost estimate and potential savings
Summary
At its March 11 meeting the Otis Library Building Committee reviewed contractor pricing and a line-by-line project cost estimate, discussed possible savings and noted that a committee member is working with a financial advisor to refine the budget. The Feb. 18 minutes were approved; no formal contract decisions were recorded.
The Otis Library Building Committee on March 11 reviewed contractor pricing and a detailed project cost estimate as consultants walked the committee through eligible and non‑eligible cost categories and possible savings.
Michael, a representative of TSKP, explained the process used to obtain pricing for the project. Steve, a representative of Downes, described how costs were separated into categories to show which items are eligible for certain funding sources and then walked the group through each line of the Project Cost Estimate.
The committee reviewed potential savings and areas for value engineering. Brandi said she is working with a financial advisor to fine-tune the numbers and the committee will use those refinements to inform next steps.
Procedurally, the group approved the Feb. 18 meeting minutes. The meeting began at 5:30 p.m. and adjourned at 6:45 p.m. Secretary Katelyn Chaffee submitted the minutes. The committee scheduled its next meeting for Wednesday, April 15 at 5:30 p.m.
No formal contract awards or final votes on project spending were recorded in the minutes.
