Cost Estimate Overview
Throughout each phase of the FHS Building Project (schematic design, enhanced schematic design, design development, and construction documents), the professional partnership team conducts cost estimates based on current market conditions. The professional partners complete their own cost estimates, then reconcile the differences in order to come up with an accurate estimate.
Pre-Referendum Cost Estimate
Of the $135.6 M approved at referendum on June 3, 2021, the estimate for construction costs was approximately $115,600,000. This estimate was completed based on the Schematic Design.
Post-Referendum Cost Estimate #1- Enhanced Schematic Design
Following the passage of the referendum, TSKP Studio created an Enhanced Schematic Design, and a subsequent cost estimate was completed on December 1, 2021, with construction costs at $124,475,928. As a result, the FHS Building Committee completed a value engineering (VE) exercise to bring the costs back to the original budget. This process involves the professional partnership team meeting with the Design Working Group to identify line items in the project to either (1) remove them from the scope of the project or (2) include them as add alternates, in the event that bidding prices are favorable and the items can be added back into the project. The FHS Building Committee then reviews the VE list created by the Design Working Group for final approval.
The VE items were approved by the FHSBC on January 19, 2022 with the cost estimate for construction as of January 15, 2022 at $115,113,107. The approved VE items do not impact educational programming.
12/15/21 FHS Building Committee Agenda
12/15/21 FHS Building Committee Minutes
12/15/21 FHS Building Committee Meeting Video
1/19/22 FHS Building Committee Agenda
1/19/22 FHS Building Committee Minutes
1/19/22 FHS Building Committee Meeting Video
Post-Referendum Cost Estimate #2- Design Development
Upon the completion of the Design Development documents, a subsequent cost estimate was completed on April 14, 2022 at $119,960,227. The FHS Building Committee completed another VE exercise to bring the costs back to the original budget. The construction cost estimate presented to the FHSBC on April 27, 2022 is at $115,088,393.
The FHSBC began to discuss these items at their April 27, 2022 meeting. The Committee voted to accept the VE list with the removal of items G104 and G015, and the alternate list as amended and with the removal of #6. These items require additional evaluation and an updated cost estimate, VE list, and alternate list will be presented to the FHSBC at their next meeting on May 11, 2022.
4/27/2022 FHS Building Committee Agenda
4/27/2022 FHS Building Committee Minutes
4/27/2022 FHS Building Committee Meeting Video
The VE items were approved by the FHSBC on May 11, 2022 with the cost estimate for construction as of 5/11/2022 at $ 115,238,908, which is $361,122 below the original budget estimate.
5/11/2022 FHS Building Committee Agenda
5/11/2022 FHS Building Committee Minutes
5/11/2022 FHS Building Committee Meeting Video
Post-Referendum Cost Estimate #3- Construction Documents
Upon completion of the Construction Documents, a subsequent cost estimate was completed on June 30, 2022 which came in over budget. The FHS Building Committee completed another VE exercise to bring the costs back to the original budget. The FHSBC approved the VE items on July 6, 2022 with the construction cost estimate at $115,075,007, which is $626,023 below the original budget estimate.
7/6/2022 FHS Building Committee Agenda
7/6/2022 FHS Building Committee Minutes
7/6/2022 FHS Building Committee Meeting Video
Value Management Grand List
Click here to review the Value Management Grand List which documents each item that was considered for removal from the base bid documents. There is a key on the last page which explains each action item.