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043 <br />Central Carolina Community College <br />1 105 Kelly Drive <br />Sanford, NC 27330 <br />June 25, 2007 <br />COPY <br />Mr. Bob Brown, Chairman <br />Lee County Board of Commissioners <br />Mr. Chairman: <br />On June 20, 2007 Central Carolina Community College accepted bids for the <br />construction of planned facilities at the Emergency Services Training Center. The low <br />bid was given by Construction Systems, Inc., of Fayetteville, N.C., at $ 1,999,900 to <br />complete all bid items. Budget to cover the construction contract, remaining design fees, <br />and the required contingency fund amounts to $ 2,122,298. We verified with Finance <br />Director Lisa Minter on Friday, June 21, 2007 that the balance of our original <br />appropriation is $ 2,030,807. As shown below, we are short $ 92,173 in funding <br />necessary to accept the low bid. <br />Remaining Costs <br />S S 1.999,900 Construction contract <br />54,580 Remaining Design Fees <br />68,500 Contingency Fund (required by the <br />State Construction Office) <br />$ 2,122,298 Total Remaining Costs <br />$ 2,030,807 Available balance of original appropriation <br />2,122,298 Less remaining costs <br />S ( 92,173) Deficit <br />Mrs. Minter shared with us that, due to long delays in getting this project under <br />construction, interest in excess of $ 200,000 has been earned on the appropriated funds <br />held by the county. In light of the unexpected expenditures on this project (see <br />Attachment A) and the long delays, we request that the Board of Commissioners allow <br />$ 92,173 of accrued interest to be added to our budgeted appropriation so that this project <br />can be completed. <br />Thank you for your consideration of this matter. <br />Sincerely, <br />• Matthew S. Garrett <br />President <br />