RESOLUITON
Motion/Request:
title
MOTION to approve a "Resolution Amending the Resolution Entitled "Resolution Appropriating $8,550,000 for Various School Improvement Projects; And Authorizing the Issue of Bonds And Notes in the Same Amount to Finance Said Appropriation" To Increase the Appropriation And Borrowing Authorization To $9,800,000".
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Background:
At the Permanent Municipal Building Committee's March 31, 2025 meeting they forwarded a request to the Town Council to increase the Board of Education $8,550,000 Roof Replacement & Various Projects by an additional $1,250,000; bringing the total requested Bond Authorization to $9,800,000 to proceed with the Juliet W. Long School Heating Ventilation and Air Conditioning System Project.
The request for the Town to consider increasing the Bond Authorization was based on the following:
* The results of Bid # LPS-24-9 (Ledyard Public Schools HVAC Replacement); for which three bids were received.
* Nutmeg Companies Inc., in the amount of $2,673,520 was the low bid; however, the bid was $1,250,000 more than the projected estimated cost. The total costs of the project included expenses such as Borrowing Costs; Builders Risk Insurance Policy which would provide coverage during the construction; and Connecticut Interlocal Risk Management Agency (CIRMA).
* The HVAC Project at Juliet W. Long School will need to be completed by December, 2026 to be eligible for the town to receive the Grant Reimbursement in the amount of 62% of the total costs of the HVAC Project. The State granted Ledyard an extension to complete these Projects. However, it should be noted that the State approved a 61.68% Grant reimbursement for a HVAC project cost of $2.25 million, any costs over that amount would not be eligible for grant reimbursement.
* Nutmeg Companies, Inc., indicated that they would need two full summers to complete the installation of the HVAC System at the Juliet W. Long School (2025 & 2026). Therefore, they wer...
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