Mineola school trustees got the news on just how much construction inflation has eaten into the money the community approved to build a new school.

Trustees will meet again Thursday to formalize plans for the new primary campus to be built on NE Loop 564.

Jackson Construction’s Bryan Parma and J.D. Hale reviewed the bids they received from around 160 subcontractors on March 9 and totaled the best bids.

They proposed a guaranteed maximum price of $23,866,898 to build the 70,000-square-foot facility, with general conditions adding $3 million for a total of $26,901,439.

The bond issue had budgeted $19 million for the project, with another $10 million for transforming the elementary campus into a career and technical education center and upgrades at the primary campus to turn it into an elementary school.

Superintendent Cody Mize said the board will be faced with having to prioritize and execute, adding that the district may not get everything it planned.

He said there has been some added revenue from the interest earned on the bond funds (about $100,000 a month). There  may be some savings on the dirt work for the site. And the district was able to use federal COVID relief dollars to offset about three-fourths of the $2 million cost of the new band hall – dollars that the board can consider using for other construction projects.

There is also about $1 million included in the price for contingencies.

Two primary areas that increased the cost of the structure are the overall inflation in construction materials since the bond was proposed more than a year ago and an increase in the size and scope of the building to ensure it is built to meet the district’s future needs.

A bid alternate for $1.6 million to add a third wing of 7,000 square feet was also received.

Hale and Parma noted that they had revised some of the proposals  for possible savings and had included those in their price, such as roofing and landscaping/irrigation.

Trustees meet at 6 p.m. Thursday at the administration building to consider the project.

Ground breaking is targeted for the first week in April.