01/27/2005 LIBRARY BUILDING COMMITTEE Minutes

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estimated budget to ensure that the LBC would be not left short, should the project casts go up. Once the estimated budget is submitted with the grant application, it is not possible to o back to request additional grant funds. Sheldon further stated that he had already alerted Joyce Mason by email of the higher than expected budget estimate. � Mr. p Roberts stated that the report prepared by the independent professional estimator included four spreadsheets: I construction costs totaling $5,224,494, or $238 per sq. ft. This figure includes demolition of the old � library. project costs totaling$2,247,506. This figure includes furnishings, project expenses, professional fees and the cost to hire a project manager, a new state requirement. The project manager is needed from the design phase through completion of construction. 3 construction cost summary project cost summary The third and fourth summary sheets are grant requirements. The bottom line: 7}472,000—total project cost . minus the Grant of$2,498,044 leaves a balance of $47974)868. If $3,500,000 from the Town is subtracted, this results in a fundraising effort requirement o $1)4741868. The due stion was raised as to what the additional cost would be to include an estimate for a geothermal system. Mr. Roberts estimated that it would result in an additional $225, Doo to $250,000 to the total gated g budget. He figured that the project cost would increase to$7,732,787, or$248 per s . ft. After subtracting the grant money, the balance remaining would be$5,2321268. i t the committee agree to include an additional $250,000 to the Bonne Barrett introducedmotion that g ro osed estimated budget for the purpose of including a geothermal system in the n fibra r '. Steve Coo proposed seconded the motion. Discussion by the committee followed. Those in favor of includingthe geothermal costs argued that if it were left out, it would be impossible to go back and ask for additional funds after the grant had been approved. Where will be cuts to the budget before final approval in any case and it would be likely that other items could be scaled down to make up for the added geothermal cost. The geothermal equipment could always be cut back, but could never be added after the grant application was submitted. 1 250 000 for geothermal equipment to the proposed budget felt that the total Those opposed to adding a project cost figure of$7,732,787 was dangerously close to$8,000,000, and would be received negatively by the Selectmen. Torn O'Neill cautioned that we do not want to lose the favor of Town Hall. Sheldon Gilbert added that the higher total cost figure also would place an additional burden on the fundraising effort. had concerns about the potential for additional maintenance costs to service geothermal Sheldon also equipment. Following discussiona a committee vote was taken. of the seven committee members present, there were fine Motes I favor of the ,notion, one vote against the,motion, and one abstention. The motion passed. Gilbert will contact Joyce Mason to arrange a meeting to discuss the projected project costs. Sheldon � y , SAFEc ETE ESTIMATE - Michael Grotzke. Michael currently out of the country. Upon his return � ontact him to re s with the use of Safecrete material in request an estimate of the potential saving Sheldon will �the construction of the new library.