New Building Project Costs Increase By 25%

FOR IMMEDIATE RELEASE

July 15, 2022

Final costs for the new library building were presented on Tuesday, July 12, 2022, at the Addison Township Public Library New Building Committee meeting. This total is no longer an estimate or a projection. The established total for site preparation and new building construction is now $1.78M. This represents a 25% increase over projections.

Bids based on finalized project specifications were submitted by contractors on June 30, 2022. This was compiled by The Alan Group, who are the library’s construction management firm. Library Board President James Baldiga commented that they anticipated a cost increase, but not to this extent.

Project line items with exceptional increases include:

• Electrical: 84% increase over projections
• Masonry: 110% increase over projections
  

James Ratliff, construction manager of The Alan Group, attributes the increases to extensive construction market pressure since the conceptual budget in 2019.

The Library Board will meet the week of July 18th to discuss these developments in the project’s total cost. Fundraising efforts originally generated 86% of the expected funds needed. With the current figures, the library is actually at 70% of their fundraising goal. The difference is expected to be made up through a construction loan.

Visit www./letsbuildalibrary.org/ to learn more about the project and how you can get involved.