Are there any hidden costs that will raise the Towns share to be higher than $5M?
We don’t anticipate that happening. If anything, we expect the $5Million figure to be on the high side for at least 2 reasons: (1) the State automatically increased the original construction grant money by 15% for inflation and (2) the Permanent Building Committee included a 15% contingency factor in their total cost estimate. We feel these combined factors should provide an ample cushion for keeping the library project within budget. The Permanent Building Committee, which has experience in managing the construction and renovation projects of the Clyde Brown School, the High School and the Veterans Memorial Building, has a record of always coming in under budget.
