A guaranteed maximum price has been set for the North Hampton municipal complex project, and the total comes in just under the previous estimated cost for the work.
The cap has been set at $6.1 million, which is what Ricci Construction Company, Inc., the project's construction manager, guarantees the work will cost the town. If for whatever reason the project exceeds that cost, Town Administrator Paul Apple said Ricci is required to provide a bond to cover the additional cost.
Apple said the North Hampton Select Board has now accomplished its three main goals of the municipal complex project: "Yankee thrift, value for money and New England design."
"The cost of renovation, which WarrenStreet proposed in 2011, was between $6.2 and $6.8 million," said Apple. "Based on the very detailed process over the last 15 years, the opportunity the people of North Hampton have is to build energy efficient buildings that will last at least 50 years for less money than it would cost to renovate. The design preserves the neighborhood character of the Atlantic Avenue area."
The project still must be approved by the voters. It will be placed on the 2014 March town meeting warrant through a selectmen-sponsored article.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
