The authorized project cost for the new elementary school is $61.15 million and is part of a larger Madison School Renewal Plan totalling $89.2 million, which includes improvements to Polson Middle School and Brown Intermediate School. The shortfall for funding the new elementary school initially totaled $5.9 million. Because the costs toward Polson Middle School ended up lower than projected, nearly $3.5 million that funding was approved by the Board of Selectmen in June to offset the $5.9 million shortfall. Because all three school projects were approved in a single bonding package, the funds can be used interchangeably if necessary. With the new elementary school project still $2.4 million short of funding, the Board of Education considered what they could do to cut costs for the project. The total savings of the three items are estimated to be about $225,000 for the fire protection system, $72,000 for the kitchen equipment, and $356,000 for the radiant flooring, totaling $653,000, leaving $1,747,000 remaining in the shortfall.
$1.7M Shortfall Remains After Cuts to Madison Elementary Construction