04/19/2012

Architect's summary for library building project budget supports $8.5 million estimate

The architects working on the Thomas Memorial Library building proposal have submitted a summary of the project's budget.

An estimate submitted April 19, 2012 by Casaccio Architects during this, the concept design phase of the project, comes to $8.2 million.

The estimate includes costs for new construction and renovation, $6.2 million; "soft costs" including furniture, supplies, equipment and professional fees, $1.3 million; and, a 10-percent contingency fund of $700,000. A $300,000 contingency included in the construction cost estimate brings total contingency to more than $1 million.

"I feel comfortable with continuing to refer to the project as an $8.5 million project," Town Manager Michael McGovern said in an email to members of the Town Council.

The estimate does not include projected costs of fundraising or temporary facilities. "Nor do we know how construction costs may change based on inflation between now and the actual construction date," McGovern said.

The Town Council is expected to vote on whether to move ahead with construction of a new Thomas Memorial Library and Cultural Center in October. At their April meeting, the Town Council set into motion a six-month public engagement plan for public education and input. A September public hearing on the proposal is planned.