|
|
According to the contract, both projects to build a new high school in Stuart and turn the current Stuart building into an elementary will be completed within the $16.95 million budget. However, Rambo's fees remain about 16 percent of the project's costs, but as the owner representative, FCGM act as the "paying agent" for the district, meaning FCMG pays different construction fees back out to the appropriate companies. In the end, Rambo said the project management fee should figure up to about four percent of the total construction costs of the new high school.
In accordance with the construction timeline, the current Stuart High School is minus its condemned west wing after demolition crews started taking the old portion of the building down last weekend to make way for the reconstruction to transform the building into a future elementary.
As for the future site of the new high school in Stuart, the board authorized advertising, bidding and a contract for the construction slated to begin yet this fall. The on site grading is expected to begin soon in preparation for foundation work to get the project rolling.
Although the board has been reluctant to partner with the City of Stuart, as Rambo had advised as a significant cost-saving measure, it does have a joint meeting scheduled with the city council at 6:30 p.m. Thursday, Aug. 28 at the Stuart City Hall. There, the two groups will discuss finances surrounding a possible public library and wellness center as part of the school's project, as well as infrastructure costs.
Also, the board awarded the bond revenues to the Iowa School Joint Investment Trust, the lower of two bidders, winning over Wells Fargo with a 3.17 percent maturity rate and a Flex-CD option that is expected to meet the district's particular needs.
