02/01/2005 LIBRARY BUILDING COMMITTEE Minutes

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TOWN OF M LIBRARY BUILDING COMMITTEE Minutes of the Meeting of Tuesday, February, 1. 2005 Committee Attendees: Also Attending: + Sheldon Gilbert Helene DFoe, Library Director Bonnie Barrett ,ferry Blurnengarten, Publicity Committee Maureen Rounds John Rent, Mashpee Commons Ed DeFoe Ann MacDonald Dailey, Liaison Tom 'Neill Steve Cool Jane Ddlan Diana Lannon Dave Burton Chairman Sheldon Gilbert called the meeting to order at 7:10 PM. REVIEW of MINUTES The minutes from the meeting of Thursday, January 27, 2005, were corrected as follows: on page 2, next to last paragraph, 11n 2, Change"one vote against the motion"to"two votes against the motion`. The committee unanimously approved the minutes as corrected_ FINAL BUDGET FOR GRANT APPLICATION The final budget figure is now$7,736,417. This includes$263,505 for geothermal equipment, o � which$25,000 is for architectural services. One advantage to including geothermal costs into the budget is that an additional 2004 of those costs are added to the grant funds. This brings the total eligible costs up to$7,058,873, which is the basis on which the grant amount is calculated. The grant money being applied for i $2,551,000. Steve Cook requested confirmation by the LBC that the geothermal casts would not be considered an alternate, but are, in fact, a line stern in the final budget for the grant application. After a brief discussion, the committee confirmed that the geothermal oasts would be a line item, not an alternate. Questions arose about the reason for the higher estimated costs_ Sheldon stated that the primary reason for the increase is due to increased costs in concrete, steely lumber and other commodities and the inclusion of$1,300,000 in contingencies, A much smaller amount for contingencies was included in the original es m ted budget figures. Stewart Roberts suggested that the professional roost estimator's estimate was conservative. Patience Jackson, IIBLC's Library Construction Consultant suggested that we not understate the contingencies to ensure that sufficient grant funds are requested to help cover the actual costs that will be incurred Implications of the now budget. As a result of the increased budget, $1,700,000 will now be required from fundraising efforts. $1,200,000 in cash will be required in hand when going out to bid on the building project. Fumiture costs are not included in this required amount and fundraising for such costs can be accomplished during the construction period. OVERVIEW of THE LIBRARY CONSTRUCTION PROGRAM Patience Jackson's comments regarding the Overview document prepared by Sheldon Gilbert for inclusion in the grant application were positive. Maureen Rounds did a very detailed review of the