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Bond update: GMP buyout progress; remediation pricing unknown
Summary
Architects and project staff reported that GMP buyout continues within contract amounts while pricing for additional over‑excavation and remediation remains unknown and will be updated at the next meeting. The bond executive and grand summary budgets were reviewed.
At the June 8 work session, the board received an update on the bond program's budget and GMP (guaranteed maximum price) status. Staff said the GMP buyout continues and that current buyout activity is progressing within the GMP contract amount.
However, the presentation noted that pricing for additional over‑excavation and for remediation of unsuitable soils is unknown at this time; staff said they would provide cost updates at the next meeting. The bond executive and grand summary budgets were reviewed, and the board scheduled a site tour for members.
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