I’m kind of surprised the low bid was only 4 million over the proposed budget. I’m assuming the budget proposal was prepared months ago, and with the way building supplies have sky rocketed, this was going to happen.
Waiting a year or two until the supply chain issues work themselves out might save $4mm.
No time to wait....we need it asap....
Still thinking transitory…..Sigh
Prices may be way higher then. Inflation is not going away soon.
The cost of steel has gone through the roof with very little end in sight. Good luck predicting a budget that will come any where near being accurate in the end.
The total project cost is the ~$25 million.
Clarification...the $17.2mm budget number is the official CONSTRUCTION budget produced by the University for the project. The total PROJECT budget, to include furnishings, etc, is a different number and sure could be around $25mm, that I do not know.
I believe this project is subject to Iowa state law that would obligate them to select the lowest responsible bidder. However, the apparent low contractor is a very reputable, local firm that has done dozens and dozens, probably hundreds of projects around the area, including countless jobs on the U of I campus. There are no worries about the "low bidder" in this case, IMO.
Now that is some detailed, inside info!
Lol Clearly a supply issue and NOT demand?
Thanks. FYI, it is also public info and available to all...but you do kinda need to know where to look for it.
Calling McComas reputable is generous.
I’m not sure what this (low) demand problem would look like? Cheap lumber?
Bro. I’m not talking about the university of Iowa.
It mostly becomes a demand side issue near the end of the Monopoly game…. The point where the masses do not bring in enough money to fuel the economy through bottom-up purchasing power.
There is in fact a lack of supply...on a whole range of items. ??? There is a severe lack of supply in some categories...things that are normally in stock are months and months out of stock, etc.
