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Cost & Financial Information

Getting to a Guaranteed Maximum Price (GMP)

Finance Committee FAQs Property Tax Programs Campus Projects Briefing Document (Jan. 2018)

Blog Posts - Cost

Budget Update

We are pleased to report that we’ve completed value engineering (VE) for the “90% Construction Document” phase. Our school building project remains on time and within budget. The next steps (proceeding through December) include finalizing plans and the 100% Construction Document drawings (Bid Documents) in preparation for soliciting sub-trade bids.   Just as we did at the […]

90%

We are now almost at the end of the 90% Construction Drawings phase. The SBC met on Thursday evening to review interior finishes for the Auditorium and Learning Commons, get a project update, and to review the latest set of cost estimates. Another round of Value Engineering is needed to ensure the project stays on […]

THURSDAY SBC Meeting…

The next SBC meeting is: THURSDAY, November 14th, 7:00pm, Hartwell multipurpose room.

This Saturday, November 2nd!

9:00am — Special Town Meeting (times after this are approximate) 9:30 — Welcome 9:35 — School Project Update 9:45 — Setting the Context 10:00 — South Lincoln Zoning Proposals 11:15 — Community Electricity Aggregation 11:30 — Property Tax Study Committee Update 12:15 — Open Forum For more information, visit http://www.lincolntown.org/1115/2019-Special-Town-MeetingState-of-the-To

Nearing the end of the 90% Construction Documents Phase

The 90% Construction Documents (90%CDs) were submitted for a final round of cost estimates on October 15th, and the estimates will be presented to the SBC at its November 14th meeting. This is the last round of estimates before the bid documents are finalized in December. Below is an outline of the project schedule and […]

On Budget…

After a 3-meeting, 7.5-hour Value Engineering (VE) process, the project remains on budget! As anyone who’s done a major renovation knows, a construction project is a nearly continuous stream of choices and decisions. Things begin with big decisions like size, scope, and scale, and end with small ones like: Which knobs to put on the cabinets? […]

Making Choices…

Last Wednesday the SBC continued the Value Engineering (VE) process to ensure the project remains on budget. As reported last week, the cost estimates at the end of the 60% Construction Documents phase (60% CD) came in about $2.8M higher than the budget, so the SBC embarked on another round of VE. We’ll be honest, […]

Value Engineering – Part 2

At the end of each phase of the school project, the project team performs a new round of cost estimating. We are now at the end of the 60% Construction Documents phase, and at last Wednesday’s meeting the SBC reviewed the latest estimates. They came in about $2.8M above budget, so the SBC is engaged […]

SBC Summer Fun!

What a fabulous 4th of July parade! Enjoy some more parade photos below. The SBC will continue to meet over the summer. On the agenda this Wednesday (July 10, 7:00pm, Hartwell multipurpose room): Update on exterior elevations and materials Review mechanical/electrical/plumbing (MEP) systems Review LEED scorecard Project budget update ***Please Note*** The SBC website will be […]

SBC Meeting on Wednesday!

  Next Meeting:  Wednesday, June 19th 7:00pm, Hartwell Multipurpose Room Included on the Agenda… Review Exterior Elevations and Materials Review Construction Logistics Plan Updated Monthly Budget Site Permitting Update

Definitely Temporary (Modulars)!

Modulars: Last Wednesday the SBC approved the contract for the modular classrooms that will become the home of our K – 4 students during the 2020/21 and 2021/22 school years.  The bid for the modulars came in within budget, and preparations for installation will begin about July 8th! May 22nd – Updated Designs: The SBC will see […]

SBC Meeting on Wednesday!

After a couple of extra weeks off, the SBC is back to its every other week schedule. Wednesday, May 8th, 7:00pm, Hartwell multipurpose room. On the agenda: Review Construction Documents phase schedule Review updated monthly budget Review construction logistics plan Next meeting is on May 22nd. 

On Budget…

The consensus of three independent cost estimates is that the project continues to be on budget! The Design Development phase is now drawing to a close, and the Construction Documents (CD) phase begins. The next round of cost estimates will been at “60% CD,” which means when the construction documents are 60% complete. Project Schedule […]

The bottom line…

As mentioned in prior posts, the Design Development drawings were recently submitted for another round of cost estimation. Those estimates will be reviewed at this week’s SBC meeting. Wednesday, April 10th, 7:00pm, Hartwell multipurpose room Review preliminary construction costs Review updated construction timeline Subcommittee reports Site permitting update

Update from Town Meeting 2019

For the first time in…a long time…there was no school project presentation or vote at Town Meeting. However, there were two warrant articles with ties to the project: Property Tax Study Committee: In February, the Selectmen (BOS) appointed the Study Committee, which is charged with examining existing tax abatement/deferral programs, determining unmet needs, investigating other […]

Project Bond Update

At the February 27th SBC meeting, Jim Hutchinson, Chair of the Finance Committee, provided information about the recently issued bond for the project, and shared analysis of the impact on residential tax bills. On February 15th, the Town’s “AAA Stable” bond rating was reconfirmed by Standard & Poors. This was excellent news for Lincoln, and […]

This Week @ the SBC: Bond Rate & Design Updates!

In December, the Finance Committee used estimated bond rates of 4% and 5% to model the projected tax impact of the project… Last week the town’s finance team got an updated bond rating and was ready to put the initial project bond out to bid, locking in our interest rate. The initial bond is for […]

Not Our First Rodeo…

Interior Design: At the January 23rd SBC meeting, the SBC got a look at design concepts for the the interior of the school.  SMMA talked about choosing interior finishes that 1) create a calmer visual environment; 2) are durable; and 3) stay within our budget. This is made a bit more challenging by the fact that […]

A Look Inside…

…at Plans for the Interior At this Wednesday’s SBC meeting (January 23rd, 7:00pm, Hartwell multipurpose room), the SBC will spend the bulk of the meeting reviewing updated floor plans, interior design, and interior materials. Cost Check: After the December vote, Consigli came on board as our Construction Manager. Since then, they have been examining the building and […]

BALLOT VOTE – MONDAY!!!

Click the image to play the video (and turn on the volume!) And if you weren’t able to make it to Town Meeting on Saturday, and want to watch the presentations or hear the questions, you can watch it here!

This is a Community Project

Over the past 19 months, the Lincoln School project has been forged by the willingness of residents with a wide range of values, priorities, expertise, opinions, and viewpoints to come together to try to collaboratively solve an incredibly complex problem. The goal of the SBC has been to create a process and a platform for […]

Remember…

…way back in March of 2017 when we were young, carefree, and just starting this process? Sometimes, unless you are in the Lincoln School every day, it is easy to forget some of the basic reasons we are deciding, THIS SATURDAY, on a school project. In March 2017, Town Meeting voted unanimously to release $750K […]

Happy Thanksgiving!

The Outreach Team wishes everyone a turkey-and-pie-filled, enjoyable few days! We will be on hiatus for just a bit…and then you’ll be hearing from us quite frequently in the final days before the Special Town Meeting which is a week from Saturday! A few links in case you’re trying to avoid doing the dishes: Lincoln […]

FAQ – Tax Relief Programs

~~ TONIGHT! Multi-Board Meeting ~~ 7:00pm – 9:00pm Hartwell Pod B The School Building Committee, Finance Committee, Capital Planning Committee, and Green Energy Committee will present updated information in preparation for December 1st.   The public is welcome and encouraged to come ask questions! FAQ: Are there any ways to mitigate the impact of the […]

(Funding) Plans…(Building) Plans…(Voting) Plans…

What is the funding plan? The Lincoln Finance Committee met on Monday, November 5th and voted unanimously to recommend the following plan for funding the $93.9M Lincoln School project: $4.4M from Stabilization Funds (existing funds) $1.0M from Free Cash (existing funds) $88.5 BOND (new borrowed funds) This is the funding mix the Town will vote […]

Who picked this budget?…and other cost questions…

Cost FAQs: There are a number of interrelated questions that come up about the cost of the project and how we expect to stay on budget. Some variations include: Why is the budget $93.9M? Why didn’t we choose a budget and then do as much as we could for it? Home renovation projects always cost […]

SOTT Recap

Now that we are in the home stretch, you will be hearing from the Outreach Team a bit more frequently – we thank you for understanding! State of the Town Update At Saturday’s State of the Town, the SBC gave an update on the Lincoln School project’s progress since June. Here are the highlights (see […]

Value Engineering – Part 1

Cost Estimate Overview On September 26th, the SBC received the draft preliminary cost estimates from two independent estimators: The two total project cost estimates came in at $102M and $109M, well above our target budget of $93.9M. After that meeting, the estimators, our design team, and our Owner’s Project Manager met to reconcile the two […]

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