At the recent Fort Smith Board of Education board meeting, school officials and project partners itemized the cost of the Peak Innovation Center.
The school board now plans to spend around $ 6.5 million more than originally expected on the modern vocational school, as a donated building expands the scope of the project. The total cost of the project is $ 19.076 million and the completion date has been postponed from this fall to January 2022.
The largest part of the additional financing requirement is due to the construction of an “outer shell” of the former shoe retailer. A building envelope is a separation of the interior and exterior space of a building and contributes to air conditioning and to the protection of the indoor climate.
Shawn Shaffer, the facility supervisor for Fort Smith Public Schools, said costs rose when a $ 2 million building was donated and planners made design changes. There is also a leaky roof to be repaired. However, approximately $ 1.4 million in expenses was offset with a grant from the US Economic Development Agency.
When the master planner estimated the cost of the center at $ 13.7 million in 2018, Shaffer said. That price was for the construction of the original 50,000-square-foot facility when it was due to begin in August 2019. The donation of another building brought the square footage to 61,341 square feet and changed the price.
“If we use the same calculation at $ 150 per square foot, that alone is a net increase of $ 1.7 million,” Shaffer said.
“By adopting a $ 2 million facility, we essentially added an additional $ 6.6 million to the project, right?” asked Dalton Person, member of the school board.
The additional cost enabled the school to receive the $ 1.4 million EDA grant, Shaffer said.
The EDA grant combined with the$ 2 million in savings leaves an additional $ 3.2 million commitment that the school district made when it accepted the Hutcheson shoe factory in February 2019, Person said.
The outer shell of the system accounts for the largest part of the additional costs. Shaffer said the “envelope” cost $ 3.8 million and was not taken into account when designing the facility. The master planner at the time was Corgan Architecture Firm in Dallas.
As of this week, total construction costs have increased $ 6.5 million from 2018 levels, Shaffer said. “Soft costs” – such as desks, chairs, and IT necessities – increased by $ 1.1 million.
The estimated total cost of the project is $ 19.076 million, including construction and soft costs, Shaffer said. It also includes a new roof that goes beyond the existing one due to leaks.
Shaffer agreed with Person when he asked if the increase was caused by an increase in professional costs or unforeseen expenses, but even more so because of the size of the project after the Hutcheson Shoe Building was adopted.
The total cost of the upcoming water abatement work to combat moisture under the ceiling is $ 132,000. With an additional $ 4,000 for surveillance equipment. Problems with the water were discovered earlier this year by GTS who were brought in to monitor the mitigation system and make sure it was working.
The total cost of the roof is not yet known, Shaffer said.
Breakdown of project funding
• Millage Fund – $ 13,724,046
• EDA Grant – $ 1.4 million
• Governor Hutchinson & Office Skill of Development – $ 2,100,000
• ABB – $ 1,000,000
• ArcBest – $ 1,000,000
• ARDOT – $ 180,525
• Gene Haas Foundation – $ 1,000,000
• Baptist Health / Grace – $ 1,000,000
• Wingate Foundation – $ 750,000
• Total – $ 22,154,571
• Allocated for Construction – $ 17,504,571
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