How do construction costs of the new schools in the proposal compare to other projects in the area?

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Proposed Elementary School #6

ES#6 in the 2019 Bond proposal has as a total cost of $35,858,000. This includes $3,300,000 for off-site infrastructure costs needed for utilities and road improvements. The purpose of the road improvements is an effort to avoid significant traffic delays on FM5. The project cost for the school, including all fees and furniture, fixtures, and equipment, is $32,558,000. Within this amount, the 2019 construction cost is $27,405,000. The construction cost for the anticipated bid date in the Spring of 2020 is $29,391,863. Given the fact that the current construction market is resulting in significant cost escalation, the 2020 projected cost includes an inflationary rate of 7.25% per year. 

Click here to view chart of recently bid elementary school projects in the North Texas area.

Proposed Middle School #2

MS#2 in the 2019 Bond proposal has a total cost of $62,501,000. This includes $1,500,000 for roadway improvements along Old Weatherford Road, which are required by the City of Fort Worth. The purpose of the road improvements is an effort to improve safety and avoid significant traffic delays on Old Weatherford Road. The project cost for the school, including all fees and furniture, fixtures, and equipment, is $61,001,000. Within this amount, the 2019 construction cost is $47,964,000. The construction cost for the anticipated time at bid in the Fall of 2020 is $51,441,390. Given the fact that the current construction market is causing significant cost increases, the 2020 projected cost includes an inflationary rate of 7.25% per year.

Click here to view chart of recently bid middle school projects in the North Texas area.

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