ESTIMATED COST Estimated costs for this project are unknown at this time but are currently in development and due to the building committee in early January 2020.
In 2013, the town received an estimate of $12,660,000 for construction costs for a police station. Although this amount has been used as a placeholder for the project for the past six years, that figure was for construction costs only--it DID NOT INCLUDE many additional necessary costs related to construction, including but not limited to studies, surveys, administrative services, insurance, hazardous materials abatement, legal fees, etc. The 2013 estimate also included this note: "Construction costs are projected for year 2014 construction start. Costs should be increased 6-8%/year to accommodate for cost escalation due to inflation." Using an escalation rate of 6%, the estimated 2020 construction cost would be $18,945,741.
FUNDING At the May 2017 Annual Town Meeting bonding* up to $1,267,000 (10% of the 2013 estimate) was approved for studies, surveys, architect, professional services, etc. and the build-out of Comstock's unfinished space to accommodate town departments that move from Town Hall campus. * Funds are bonded only when they are needed.
