On January 8th, the TSBC met and reviewed updates to the project budget. The total project costs were submitted to the Massachusetts School Building Authority (MSBA) at $46,969,476 (Tisbury share of $33,377,807) including construction, soft and continuous costs. The MSBA has raised the Tisbury School project reimbursement percentage slightly to 41.26% and increased the square-footage cap, reducing the overall Town share.
A detailed list of “Value Engineering” (VE) items was reviewed and discussed to determine where project costs could be reduced. Several items were taken/accepted as changes, reflecting a savings of approximately $287,500.
The full presentation can be viewed on the Documents page. The next TSBC meeting is scheduled for January 22nd. More information can be found on the Meetings & Events page. At the next meeting, the TSBC will vote on Design/Bid/Build (DBB)or Construction Manager at Risk (CM-R) for a delivery method, as well as the bid alternates.