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Revere Local Schools

Revere Pride - Catch It!

Stadium Improvement & Turf Project Detailed Overview

 

 
 
The stadium project was a huge success for the District on several key levels. First, these improvements were achieved based upon a private/public partnership between the school and the community. Second, this initiative did not require the District to borrow funds but rather the funding came from cash reserves on hand. Financially, we knew that the track needed to be replaced and therefore had previously set aside $500,000 to cover that portion of the project. The balance of the funds came from the Permanent Improvement Fund which is designed to cover capital improvement projects such as the stadium renovations. Third, there is a new sense of pride among our community, parents, staff and students spurred by this enhancement to our facilities.
 
Community pledges were to be made over a three year period and we should receive those funds distributed over that time line. These donations were payable through the Revere All Sports Boosters Club and as of October 15th they have received $137,000 in cash paid against the pledges. Based on the amount collected, the actual amount received is quickly approaching one third of the total pledge which puts the Turf Committee collections almost on target.
 
The Revere Board of Education and the Administrative Team sincerely appreciate the support of our community at all levels including what we were able to accomplish together with the Turf Committee.
 
Below please find some additional details pertaining to the stadium and turf improvement project which we hope demonstrates good stewardship of your public dollars. Questions are always welcomed.
 
Thank you,
 
Dave Forrest
 
 
 

 
 
 
 
I.  Breakdown of Partnership With Community Based Turf Committee
1.  Project Cost Based Upon Bid Packages $1,371,719
2.  The Turf Committee's Commitment/Portion at 40% of Project Cost $548,688
3.  75% of Line #2 - Trigger Required by the Board for Project to Proceed $411,516
4.  Board of Education Portion at 60% of Project $823,031
5.  Funds Allocated in PI Fund to Complete the Track Portion of the Project $500,000
6.  Level of Funding Required from the Board of Education to Complete Project $323,031
(Line 1, Less Line 2, Less Line 5)
 
 
II.   Projected Project Costs from Architech Prior to Bid Process:
Total Projected Costs       $2,021,700
 
 
 
III.  Project Components Based Upon Bids Received:
Contract Awards
1.  Vasco Sports Construction $1,185,579
     Scope of Work - Turf Field, Earth Work, Bleachers & All Other
2.  RB Thomas $53,640
     Scope of Work - Electric
3.  Goddard Coatings - Track Surface $132,500
     Scope of Work - Track Surface
Total Project Cost Based Upon Bid Process   $1,371,719
 
 
 
IV. Change Orders Incurred During the Construction Phase
Change Orders
1.  Based on Owner Requests $45,133
2.  Based on Field Condition/Building Department Requirements $44,759
3.  Design Clarification $7,687
Change Order Sub-total $97,579
Change Order Allowance Incorporated Into Contracts Received in Section III
Allowance Sub-total $65,000
Net Project Cost Increases In & Above the Project Bids   $32,579
 
 
 
V.  Key Project Outcomes and Statistics
1.  Project Savings When Comparing Project Estimates to Bid Cost Actuals $649,981
Percentage of Savings 32.15%
2.  Cost Overrun as a Percentage of Bid Project (Excluding Owner Requests) 3.82%
Industry Standard    5% to 10%
3.  Cost Overrun for Design Clarifications as a Percentage of Bid Project 0.56%
Industry Standard 3.00%
4. Amount of Project Paid From Reserved, Permanent Improvement Funds 100%
5.  No operational funds, from the General Fund, were used for this project
 
 

Last Modified on October 19, 2010
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