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Board approves $5.93 million deductive change order, lowering GMP for new intermediate school
Summary
Trustees approved a final deductive change order that reduces the Guaranteed Maximum Price for Magnolia Parkway Intermediate School by $5,929,975, bringing the contract sum to $41,652,996 and leaving the contract time unchanged.
The Magnolia ISD Board on May 12 approved a final deductive change order with Stewart Builders that reduces the Guaranteed Maximum Price (GMP) for the Magnolia Parkway Intermediate School project by $5,929,975. The school construction GMP was decreased from $47,582,971 to a new contract sum of $41,652,996, according to the AIA change order form included in board materials.
Board materials break the savings into remaining owner allowances ($2,961,260), contractor job savings ($2,773,726), and general conditions savings ($194,989). The finalized change order states the contract time will be unchanged and does not adjust the substantial completion date. Trustee Jordan Blake moved the approval; Trustee David McCarty seconded and the motion carried unanimously.
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