Wednesday, May 14, 2014

SKP Referendum Q of Week - Cost Overruns

Courtesy of SKP Referendum Facebook Page:

Q: How will cost overruns on the project be avoided?

A:Undertaking a major renovation and upgrade project such as the recommended option for the pool requires several strategies to keep the work within the planned budget. There are appropriate contingencies for unforeseen circumstances and inflationary factors built into the $11.3 million construction estimate provided by the architects, which created the concept design. The architects involved have extensive experience in developing budgets for projects of this nature; and detailed designs would be completed prior to construction to confirm the estimated costs. The exact final construction cost will not be known until tender bids from construction companies are received. Of course, it is hoped that the bids will come in lower than the estimated budget. The expected cost for local taxpayers of $40 per $100,000 of assessed value may also be significantly offset by grants from the provincial and federal governments and support from corporate sponsors.

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