Police Station

Post date: Apr 19, 2018 4:56:53 PM

We have received subcontractor bids and also general contractor bids. There was reasonable interest in parts of the project. At the moment, the architect and project manager are reviewing the details of the General Contractor bid prior to making a recommendation on awarding the contract.

Based on the bids received, our estimate for total project cost was in the correct ballpark. The total project will be slightly more than the $5 million we are borrowing. Our plans anticipated that, that was one of the areas where the College donation was so critical. What I'm working through now are the items in the project budget outside of contract and bids to determine where we may be carrying contingencies and/or additional budget estimates that are probably higher than necessary.

The Treasurer has prepared responses to the set of questions that Moodys will have for the bond rating. We are scheduled for a conference call with Moodys on Thursday to review those responses and to answer any other questions they may have.