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Finance Committee <br /> Minutes <br /> March 18, 2021 <br /> APPOINTMENTS &HEARINGS <br /> Town Manager Rodney Collins or other town officials to address GHQ quote and questions from <br /> Finance Committee members: (continued) <br /> 6) What is the estimated date of completion (and start date, for that matter?) <br /> The project would go to bid;November 2021. The start of construction; March 2022. <br /> Mid-point of construction; April 2023 with construction completion; May 2024. <br /> 7) Between the numbered footnotes and the bulleted items below them, there is abundant <br /> opportunity for significant cost hikes along the way. Witness the additional $12MM needed <br /> in Orleans. And the well-known reality that there's no such thing as a large-scale municipal <br /> project that lacks substantial overruns for one reason or another. <br /> This comment highlights the importance of updating major milestones. <br /> 8) In other words, can't we (meaning GHD) do better? (meaning with fewer escalation <br /> caveats). This is already about $4 million above the amount in the discussion vocabulary <br /> just a few months ago. <br /> When the capital cost estimates were developed the construction, schedule was not <br /> known in 2019 dollars. Due to inflation, the construction schedule was adjusted. <br /> Contingency is projected at 15% and would be adjusted at each phase of the design to <br /> offer protection the Town. <br /> 9) How do the "cost opinions" of GHD translate eventually into the actual performance and <br /> cost language of contracts to be awarded...in a way that best protects the town's interests, <br /> financial and otherwise? <br /> Based on best available information, capital costs in today's dollars are $54 million. <br /> The net increase to the taxpayer from $51.2 million to $54 million remains at net$0.00. <br />