Recap from 3/25 Virtual SBC Meeting
On Wednesday the SBC met via Zoom. The meeting was broadcast live (as usual) on Comcast channel 8 and Verizon channel 33, and the video of the meeting can be seen here: https://lincolntv.viebit.com/?folder=ALL
The main purpose of the meeting was to review and approve the guaranteed maximum price (GMP) for the project. There are several components to the GMP, including (slide deck is available here):
- Construction Cost: $78,324,908
- List of Allowances: $1,489,700 (work that is anticipated but not yet fully designed or scope that is not yet defined until the project begins)
- Assumptions and Qualification: Clarifications made by the Construction Manager to demonstrate understanding of the scope of work and to supplement the information contained in the design documents.
- Project Schedule: Anticipated start and completion dates, including important milestones:
- Modular classrooms: Complete
- Phase 1: Start, June 22, 2020; Substantial Completion, June 22, 2021
- Phase 2: Start, July 8, 2021; Substantial Completion, July 8, 2022
The SBC voted to approve the GMP subject to final review of the contract by Town Counsel.
[…] GMP just being finalized now? When the SBC met (virtually) on March 25, it was to approve the final costs, terms, and schedules that make up the GMP. New to the proposed language was a clause addressing possible costs and schedule impacts of […]