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BET Committee approves interim funding and bonding language for Old Greenwich school renovation, flags contingency question
Summary
The BET Budget Committee approved a $6.28 million interim appropriation to keep the Old Greenwich Expansion/Renovation project on schedule and approved a bonding resolution as presented; the Building Committee recommended a 10% owner contingency while BET asked the Board of Education to review contingency levels.
The Board of Estimate & Taxation (BET) Budget Committee on Jan. 13 approved an interim appropriation of $6,277,940 to allow the Old Greenwich Expansion/Renovation project to enter into contracts and start work in April 2026. James Waters, chair of the Old Greenwich School Building Committee, presented the request, saying the project’s total cost is $53,894,435 and the construction manager’s Guaranteed Maximum Price is $45,127,908.
The Building Committee recommended a 10% owner contingency because the project consists of six phased renovations in an occupied building, which the Committee contrasted with CMS—a new build carrying a lower contingency. BET members discussed preferring the Board of Education (BOE) take up the contingency level at its Jan. 15 meeting; the full BET may consider additional contingency funding at the Jan. 20 Regular BET meeting. The BOE item to release a prior BET condition requiring demonstration of a minimum 7% owner contingency (BOE-6, $1,965,000 listed as the release amount in the minutes) was approved 4-0.
Comptroller Joan Lynch confirmed that bond counsel Robinson & Cole reviewed the presented bonding resolution language. The Committee voted 4-0 to approve the bonding resolution as presented; the minutes record the resolution amount as $6,227,940 when the vote was called, a figure that differs from the $6,277,940 interim appropriation shown elsewhere in the packet. The Committee did not resolve that numeric discrepancy in the public minutes; BET staff was directed to amend the cover sheet in advance of the Regular BET meeting so materials are consistent.
Harry Fisher moved the motions to amend and approve the interim appropriation and Joan Lynch presented the bonding resolution; motions were seconded and all votes on these items were 4-0.
Next steps: BOE is scheduled to discuss contingency at its Jan. 15 meeting and the full BET will consider any additional contingency appropriation on Jan. 20, 2026. Contracts were described as on track to enable construction to begin in April 2026.
