NEW CUMBERLAND - The Hancock County School Board has accepted a bid for the Weir High and Weir Middle School HVAC project.
The board accepted a bid from R.A. Finnegan, Inc., in the amount of $5,040,000, one of three bids offered on the project.
Superintendent Sue Smith stated that the project began in 2007, when the board first asked the School Building Authority (SBA) for help with funding.
"We asked for about $4,128,000 and that included the whole project," Smith said.
The original estimate came from McKinley and Associates, which did the design work so that the board would know how much to ask for when advertising for bids.
The three bids that came back for the project were all approximately $1.5 million over the design estimate. The board then looked into a way to complete the project without the risk of coming up short on funding.
Smith stated that a possible solution is to do the project in three phases, which the board agreed to go forward with.
"We are trying our best to make this as seamless as possible," she said.
The first phase of the project will implement the money provided by the SBA. The completion of the second and third phases depends on two funding programs: a Major Improvement Project (MIP) and a Qualified Zone Academy Bond (QZAB).
The MIP provides up to $1 million on any school maintenance or construction project.
"We will probably be asking for about $800,000 with this," Smith said.
A QZAB allows schools to save up to 50 percent of the costs of their projects, because the federal government covers the interest costs. The interest is paid as a tax credit, in lieu of cash, to the banks which hold the bonds.
Smith stated that the board will apply for approximately $500,000 from the QZAB as a match for the MIP.
"Generally it's good to have a match of some sort, and that's why we are going to be using the QZAB," Smith said.
As of Monday, the board had not yet discussed the three-phase concept with R.A. Finnegan, Inc.
The first phase will begin immediately and is estimated to be completed in December, Smith said.
"What we are trying to do is make this as seamless as possible, and then the MIPs would be awarded around the middle of December," Smith said.
If the county is awarded the MIP, the QZAB match will follow, enabling the second and third phases of the project to go forward.
Leftover funding from the MIP and QZAB will go toward the Oak Glen High School AC project if necessary.
"That (the OGHS AC project) is going to cost around $2 million," Smith said. "When we put that out for bid, if it comes in over $2 million, then we will use the leftover money for that."
Smith stated that if the OGHS project requires further funding, the board will request a higher amount for the QZAB.
