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portion . What would the town like to see back in the building? <br /> The Committee reviewed the revised budget statement, prepared by Chartwell . <br /> The total budget estimate, with alternates and FF&E at $4. 5 million is <br /> $30 , 340,491 , a variance of $1 , 640 ,491 . <br /> Paul said under the contract, the Selectmen have the right to make the <br /> architects re-design if the budget is over. Everyone has agreed that <br /> inflation would outweigh any money saved in re-design . <br /> There is a big variance in the FF&E estimate, however Manny Tavares can <br /> show that is the right number. Nantucket has 560 students and spent $4 . 2 <br /> million on FF&E. <br /> Peter said the town might support building to the State formula (the <br /> proposed increase to $161 per sq foot) . The town would get $1 . 5 million in <br /> additional aid and spend only $500 ,000 to get it, over 20 years. <br /> Peter spoke with Tom Cahir who said Mashpee could get the $161 per sq foot. <br /> Paul explained that Ed Frenette spoke with Jim Anderson (GESS) who said if <br /> any work is started, that is considered the start of the project and <br /> therefore not eligible for the increase. The legislature has not voted on <br /> this yet and it will not be retroactive. <br /> Janice suggested not putting the shovel in the ground . <br /> Peter asked the Committee is they want to build to the State formula? <br /> Janice and Paul think it is worth it. <br /> Merry Sue wants to get as much school as we can but the Committee has a <br /> budget of $27 million. It would take another debt exclusion vote. <br /> Peter said the Committee should ask Town Meeting if they want to build to <br /> the State formula. <br /> Paul asked if the town , in the next few years, will need to spend funds on <br /> those alternate items? Dr. DeMoura thinks they will . Merry Sue added that <br /> the community won 't purchase those things and it will be a weaker school . <br /> Merry Sue —opposed <br /> Joe - opposed. <br /> Bill - opposed <br /> Steve - opposed . The only way to take advantage is to delay the <br /> project. <br /> L Phil said the $161 is not a lump sum reimbursement rate - it is a limit. <br /> The State will re-imburse you at 58%, up to $161 per sq ft. Does the <br /> Committee want to retain the flexibility to get to $161 , if it is possible? <br /> Peter said this is a one shot deal to do it right. The Committee made some <br /> under estimates when preparing the budget. <br /> Merry Sue added they are building a bigger school then what was estimated- <br /> it was originally for 1 , 000 students with expansion for 1350 . <br /> Peter asked what the Committee would be asking for today, if they hadn ' t <br /> requested the funds in advance? <br /> Paul said $30 million . <br /> Peter asked if the Committee is going to short the town because they <br /> underestimated 1 1 /2 years ago? Because they are afraid to say they made a <br /> mistake? <br /> 4 <br />