Yes, but....it includes a lot of other stuff as well AND the fully funded Library. There are a lot of ways to look at the numbers.
Of that total $52 million cost, the Library represents $18.8 million. The Library portion of the project is fully funded. That leaves a remainder of $33.2 million.
Included in that remaining $33.2 million is the pre-project environmental work and other geotechnical work totaling approximately $1 million. That leaves $32.2 million left for the project.
Of that total, $3.3 is architectural and design costs leaving $28.9 million. Of that total, $22.6 is construction, $2.2 million is for furniture, fixtures, and other building equipment (mostly post project), and $4.1 million is built in for contingencies. These are both design and construction contingencies.These contingencies are built in to accommodate potential changes to the project design as the project moves along and potential change orders for construction or cost escalation at bid.
At the end of the day, the true construction cost for the project will be what the market bears at the time of bid. However, the Town has hired Mack5, a professional construction estimation firm, to analyze the project in detail and provide as accurate a cost estimate as possible. The estimated cost of the project's construction is $22.6 million.