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The two-year-old university, already pressed for space, needed a completion date officials could count on, as well as a guaranteed maximum price (thanks to tax-exempt bond financing). After meeting last month with Springfield officials, Hyland is now talking to potential subcontractors in hopes of submitting to the city a guaranteed maximum price proposal that meets the $24. Most significantly, the agreement must provide for either a lump sum, fixed-price cost or a guaranteed maximum price (GMP). |
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