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District reports bond-anticipation note wired; contractor bidding under way
Summary
District bond consultant reported that the bond anticipation note was completed and wired, cash combined to fund first phase (target ~ $6.97M), and contractor subcontractor bidding (Landmark Constructors) has begun with site walks and a bid date pushed to Feb. 17; the district hopes to present a GMP at the March 10 meeting.
Bill Savage, the district's bond implementation consultant, told trustees the district completed a bond anticipation note and wired funds to Alameda County to fund the first phase of the Measure J main-building work. Savage said the net for the bond program and available cash are being combined to structure an initial guaranteed maximum price (GMP) package and that the district expects to bring a GMP to the March 10 meeting.
Savage reported that Landmark Constructors has begun subcontractor bidding, conducted two site walks (about 30 subs at the first and 16 at the second) and pushed the bid date to Feb. 17 to allow reissuance of the DSA comment set as an addendum to bidders. He said the team aims to combine all available cash to execute the first-phase project ("we hope to bring back a GMP structured at right about $6,970,000"). Trustees discussed timing, master planning for additional facilities needs and possible future bond considerations (next general-election opportunity November 2026).
