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603 CMR: DEPARTMENT OF EDUCATION <br /> 38.04 continued <br /> Grants approved under these regulations may be computed at not more <br /> than the following amounts per square foot provided that other <br /> requirements of these regulations have been met. The square foot <br /> costs listed below shall include the cost of the general contract, <br /> fees, all equipment, allowable site preparation, site development, <br /> insurance, contingency amount, and miscellaneous costs and shall <br /> apply to projects approved after June 30, 1992. <br /> TABLE 4 <br /> Elementary School $128.75 per square foot <br /> Middle School/Junior High School $136.50 per square foot <br /> Hi h School $145.25 er s uare foot <br /> Vocational School 15 .00 per square foot <br /> (c) Upon determination of the final approved cost of the projects <br /> the Board may recompute the maximum cost limitations using the cost <br /> standards in effect on the date the general contract for the <br /> project was signed, and the grant may be adjusted accordingly. <br /> Where it can be demonstrated during planning or thereafter that, <br /> despite all reasonable precautions having been taken, site <br /> conditions, general market conditions, or the location of a project <br /> will lead to extraordinary costs, the Board in its discretion may <br /> increase the otherwise permissible cost. <br /> In the case of an increase attributable to general market <br /> conditions, the Board in its discretion may increase the <br /> permissible costs for new construction by an amount not to exceed <br /> five percent of the estimated approved construction costs as <br /> described in 603 CMR 38.04. <br /> (d) In the case of a major reconstruction capital project for the <br /> reconstruction, renovation, or improvement of an existing <br /> schoolhouse including the replacement of a roof, windows, or <br /> heating plant, there shall be a reasonable payback period from <br /> energy conservation resulting from the new roof installation, <br /> windows, or new boiler. <br /> (e) An approved school project shall receive one payment in the <br /> fiscal year following Board approval or start of construction, <br /> whichever is the later date. <br /> (f) In the event payments have been withheld, subject to completion <br /> of audits, payment shall resume in the fiscal year following the <br /> fiscal year in which the audit has been completed. <br /> - 22 - <br />