Board approves up-to-$14,555,097 guaranteed maximum price for Buckeye Elementary improvements
May 29, 2026 | Riverside Local, School Districts, Ohio
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The Riverside Local Board of Education voted to approve a guaranteed maximum price (GMP) not to exceed $14,555,097 for the Buckeye Elementary School Improvement Project at its meeting. A board speaker introduced the resolution and the board carried the motion on a roll-call vote.
The board and staff clarified what the GMP covers. Staff said the GMP figure does not include most architectural fees; approximately $200,000 in architectural fee changes tied to design revisions at Buckeye remain outside the GMP and will be managed through the project’s PI accounting. Staff also told the board that an earlier forecast for the COPs repayment (previously estimated at $1.2 million) now appears closer to $1.0 million, and that final figures will be confirmed once bonds are sold.
Board members questioned whether some reported cost “savings” represent true savings or the result of omitted or altered work that could require corrective action. Staff said the owner’s representative (identified in the discussion as Mr. Riachi) reported savings in the $400,000–$500,000 range from closeouts at CTX and Riverview; those savings are still being finalized and staff will return final numbers into the PI to offset costs.
Staff also said the owner’s-rep contract was renegotiated from $14,000 to $8,500 and that the owner’s-rep contract expires in December 2027. Board members asked about site work and playground costs; staff confirmed the contracted playground materials for Buckeye are complete and that relocation work and site preparation (including removal of a trailer) are in the scope of discussions for the GMP, with staff checking whether specific items are fully included.
On payment timing, staff said the first payment will be staggered so fiscal year 2027 will show a payment of roughly $400,000, with the remainder of the near-term payments estimated at about $1.01 million; staff committed to present a full PI report and review schedules at the Buildings and Grounds committee meeting. Design documents for the project are complete, but staff said construction drawings are not finished and did not confirm whether they will be ready by the June meeting.
The resolution passed by roll call with five ayes: Mr. Byers, Ms. Brewster, Mrs. Krenensky, Mr. Idino and Mrs. Grassi.
The board said staff will present updated PI accounting and final COPs repayment numbers at upcoming committee and board meetings.
The board and staff clarified what the GMP covers. Staff said the GMP figure does not include most architectural fees; approximately $200,000 in architectural fee changes tied to design revisions at Buckeye remain outside the GMP and will be managed through the project’s PI accounting. Staff also told the board that an earlier forecast for the COPs repayment (previously estimated at $1.2 million) now appears closer to $1.0 million, and that final figures will be confirmed once bonds are sold.
Board members questioned whether some reported cost “savings” represent true savings or the result of omitted or altered work that could require corrective action. Staff said the owner’s representative (identified in the discussion as Mr. Riachi) reported savings in the $400,000–$500,000 range from closeouts at CTX and Riverview; those savings are still being finalized and staff will return final numbers into the PI to offset costs.
Staff also said the owner’s-rep contract was renegotiated from $14,000 to $8,500 and that the owner’s-rep contract expires in December 2027. Board members asked about site work and playground costs; staff confirmed the contracted playground materials for Buckeye are complete and that relocation work and site preparation (including removal of a trailer) are in the scope of discussions for the GMP, with staff checking whether specific items are fully included.
On payment timing, staff said the first payment will be staggered so fiscal year 2027 will show a payment of roughly $400,000, with the remainder of the near-term payments estimated at about $1.01 million; staff committed to present a full PI report and review schedules at the Buildings and Grounds committee meeting. Design documents for the project are complete, but staff said construction drawings are not finished and did not confirm whether they will be ready by the June meeting.
The resolution passed by roll call with five ayes: Mr. Byers, Ms. Brewster, Mrs. Krenensky, Mr. Idino and Mrs. Grassi.
The board said staff will present updated PI accounting and final COPs repayment numbers at upcoming committee and board meetings.
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