Budget update: presenter reports higher construction estimate; committee considers alternates

Presenter (S3) provided a budget update comparing schematic-design and design-development estimates and explained changes to soft-cost line items and equipment quotes.

On the record the presenter said schematic net construction cost was previously $5,430,000,000 and is now reported at $6,000,000,000; later in the presentation he said the construction cost expected at bid day was previously $7,261,000,000 and now reported at $7,700,000,000, and he gave the overall opinion-of-probable-cost as $9,990,000. The presenter explained those apparent increases reflect greater design detail and that some soft-costs were reduced (for example, a fitness-equipment hold was reduced from $60,000 to $20,000 and may be reduced to $0 if equipment is donated). He also said the estimator is targeting a middle-of-the-pack bid and that alternates should be prepared so the committee can trim scope if low bidders exceed the target.

Note on numbers: the meeting transcript contains large-digit figures in places (extra groups of three zeros) that are inconsistent with later totals and with typical municipal project scales; this article reports the figures as spoken and flags the transcript's numeric anomalies for verification with project staff prior to publication or budgeting decisions.

Presenter recommended identifying potential alternates and carrying a 5% design contingency; the committee discussed schedule sensitivity to escalation and agreed to proceed with the Sept. deliverable cadence while identifying alternates for bidding.