Evergreen Elementary project "on schedule"; GMP 3, land sale and mitigation financing highlighted

A project representative told the board the Evergreen Elementary construction is progressing well and remains on or slightly ahead of schedule, with footings poured and prefabs planned. "The project is moving along extraordinarily well," the presenter said, noting the 100% design development set has been received and that multiple contract amendments are in place, including two guaranteed maximum price (GMP) packages; GMP 3, which the presenter said will encompass the full project budget, is expected at the next board meeting.

The presenter explained project controls required by OSPI, including constructability and value-engineering reviews tied to the district's progressive design-build approach. Board members questioned schedule and commissioning plans; the presenter confirmed substantial commissioning will occur before occupancy and continue during initial building use. District staff cautioned the schedule is tight for occupancy and that weather or other unmitigated events remain risk factors to monitor.

Separately, the district's capital funding conversation included a land-sale receipt of $40,000,000 from a transaction with Oak Point/Black Diamond LLC expected to finalize in September pending permits, plus an agreement to borrow up to $25,000,000 in mitigation fees from Oakpoint to be repaid from future developer fees. Fletcher told the board the structure shifts risk to Oakpoint if mitigation fees do not materialize, while SCAP state construction assistance is also anticipated to contribute to the capital projects fund.