New Central construction bid below 2005 estimate
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On April 30, Construction Manager at Risk for the new Central Library, Turner Construction delivered a guaranteed maximum price for the project below the 2005 estimate of $184.9 million. With the construction bid below this previous estimate, the project can now move to the City Council for final approval in June and then on to ground breaking.
The City Council's Rules Committe is scheduled to consider the project at 9 a.m. on Wednesday, June 16 with the full Council scheduled to vote at 2 p.m. on Monday, June 28. To receive email updates on upcoming votes, be sure to sign up for the Friends Advocacy Network.
If the Council approves the project, Turner will be responsible for building the library at the guaranteed maximum price of $184.9 million. This price includes just short of $145 million for construction, with the remainder being made up of other project costs, such as architectural and engineering fees, furniture, fixtures and equipment, etc.
To read a San Diego Union-Tribune article on the construction bid, VISIT HERE.
A Saturday Union-Tribune editorial noted that the construction bids are great news and make the project doable. "This civic dream, decades in the making, is almost there. Book it," read the editorial board.
The funding for the new Central Library is a combination of designated funding geared for this downtown project and private contributions for both construction and operation of the facility. No General Fund monies or bonds will be used to build the library.
With the construction bid, the City can maintain a grant from the California State Library for $20 million. The City and the San Diego Unified School District have approved an agreement to lease two floors of the Library for a Charter School for $20 million. The San Diego Center City Development Corp. has approved $80 million for the project. The San Diego Library Foundation has raised $28.5 million toward the construction project and $10 million toward the first five years of operatings and is committed to raising the funds for the remainder of the construction costs.
