SALEM — The board of education approved a new guaranteed maximum price amendment for the district’s $57 million K-8 school project in a special meeting Thursday.

The board previously approved a GMP amendment in its June 23 meeting, which sets a ceiling for the cost of work to be done before being bid with any overage being paid for by the builder rather than the district. Treasurer Mike Douglas explained the amendment passed in June only included the costs of initial work and that the new amendment encompasses construction costs with a maximum price tag of $52,868,041.71. Douglas also noted that figure was for the costs of contractors and doesn’t include things like architect fees.

Board Member Ted Bricker asked if bids for the project had come in over or under the estimated costs. Superintendent Sean Kirkland said that currently they were under the estimated cost, but that so far, the only bids which had come in were for the foundation, earth movement and utilities which Douglas said only totaled around $50,000 to $100,000 of the total project thus far. Douglas also said that it was hoped roughly 95% of the project costs from bids would be in and finalized by the end of September.

The district is looking to use any savings once bids are in to potentially fund an alternate option in the contract which would add additional classrooms for the district’s growing elementary population.

“We want to put two classrooms stacked on the end of the elementary wing as an alternate and an additional kindergarten room on that wing. … Even if it doesn’t come back on bid day with savings to do that, I think it’s critical that we still do and we fund that. We’ll see what happens with bid day savings and hopefully it will fund that but other than that things are still heading in the right direction as far as budgeting,” said Kirkland.

Douglas told the board that the projected completion date for the project was Aug. 3, 2027, but that didn’t include the 30-day window for the final punch-list items, and Kirkland said that as a result the district would need to defer the first day until after Labor Day in 2027.

The board voted unanimously to approve the amendment and will meet next at 7 p.m. Sept. 15.