2/3/2004 LIBRARY BUILDING COMMITTEE Minutes

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Mashpee,Pubfie Libre = 0 budget includes a re of$3,4'1,900 for construction-,with o The �rrnt �1�1� . aiout for escalation of costs to the time biddiiag for constxuetion occurs. The figure is computed as follows: 1. . , f for oor stru ti r�M ug the GC's erhea&?rof�t and and Performance & Payment . 311199 1 for a 10% constniction contingency construction budget t a total of$-I, 900 or 1 per square footThis bus�� eo � C rrent constrlaetion costs are coining in at $185 per square foot. tut; Construction at $185 x 17,3 70= , 13,450. this basis the. Proposed Adjus contincrency is reduced t '$93,54 1 from $3 11, 1_ The item Furnishinu,..s in the amount of$274,000 11 be set apart from the construction budget. i Fees at$417,000 N 1 now be$390,000 for the Architect. � � "i-NT! This assumes , that This amount will be sufficient for the rchit'ect to re are the Platy & Specifications., _ id documents r is and submitted d bids o versee c�onstrac or The $27,000 review the f umishin s Fee -will be set aside from.the Construction Budget.. Project Expenses are $157,000 The 5% r t Contialleney is $213,995% The total costs attributable to nst tiOn is: $3,213,450-Construction 390,000 -Fees 157,000- Project Expenses 213,1995 - Project Contingency (based on $4,269,990) Total Construction $23,974,445 This amount excludes $274,000 in fir shin s, and $218,450 in continizency, a total of $4 92,74 5 0 of which 274 o00 would have to he financed nth fund raising. The total to e g for construction if the Town roves $3',500000 is $47=x,445, the rased fund raising difference between' $3,974,44 5 and million. This amount oud have be available construction could begin. The rei aini ,amount of$274,000 for fi fishings before ostru . odd have to be raised by fund raisin beeen the stmt of constructlon and completion of construction. This all assumes that the ' ids core in at or below the estimated cost for the project ($3,974,445). 'fie must review all of the figures and the assumptions in the mat rut be dome. � proposed budget for the Librarynow and before we resent aur r corm ndat�or to the Selectx en after the May Town Meeting - r .