Gilford Library

Cost was the hot topic of the public hearing last night on a warrant article authorizing the sale of $2.25 million of general obligation bonds to finance construction of a new library.

The Budget Committee recommended against pursuing the project, in part of the strength of chairman Derek Tomlinson's calculation that the building would cost $190 per square foot to construct. Randy Remick, president of Bonnette, Page & Stone, construction managers for the project, sought to correct that calculation and place the construction costs in perspective.

The $2.25 million, Remick said, covered not only the cost of constructing the building but also site preparation, architectural and engineering fees, test pits and a five percent contingency.

At 12,800 square feet, Remick said the cost per square foot would be $175, and the cost of construction alone about $136 per square foot. He described this as a "reasonable budget."

The new library would be built on a three-acre parcel on Potter Hill Road, purchased for $150,000 with funds withdrawn from a capital reserve and contributed by private donors. The building would be equipped and furnished by a capital fund drive with a target of $390,000.