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Board OK’s Additional Lyseth Funding

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Board OK’s Additional Lyseth Funding
Posted on 01/29/2019
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The Portland Board of Public Education voted Jan. 22 to authorize an additional $550,000 for costs associated with the Lyseth Elementary School renovation project. The board had already approved $15.7 million for the renovation of the school, but the extra funds are needed for stormwater mitigation work that must happen in conjunction with the construction work.

The increase offsets $1.3 million needed to make access road and parking lot improvements at the Lyseth site. That work was divided into phases to be funded and completed at a later date. However, it turns out that one phase, the $550,000 stormwater mitigation phase, needs to be completed in conjunction with the school renovation work and cannot be postponed. The renovation project is already underway, with plans to break ground this spring.

Portland voters in 2017 approved a $64 million referendum to renovate Lyseth, Presumpscot, Reiche and Longfellow elementary schools. Lyseth has been chosen as the first school to be renovated.

The $550,000 in additional funding for the Lyseth project comes from a $5 million project reserve fund. That money is intended to serve all four schools.

The $15.7 million already approved for the Lyseth project includes an approximate $1.2 million project contingency. If the contingency funding is not used in its entirety, any remainder will be used to complete the other phases of the access road construction. Should there be any money left at the end of the project, it will go to repay the reserve fund for the $550,000 in stormwater mitigation funding the Lyseth project received.

Bid papers for the Lyseth renovation project are already being prepared, so specifications for the stormwater project will be developed separately. Bid papers for the stormwater work are expected to go out in the late spring or early summer of this year.

To learn more about the Lyseth renovation project, click HERE.