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District is $40 Million Short on Bond-funded Projects

District is $40 Million Short on Bond-funded Projects



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OGDEN, Utah (AP) -- The Ogden School District says the cost of its construction and renovation projects were underestimated by $40 million.

The district called an emergency meeting last night to discuss the issue and possible solutions.

Ogden district officials say the $95.3 million in bond financing for the projects just won't go as far as they'd hoped.

In February, the new northwest elementary school came in $2.5 million over the budget projected 20 months earlier. Now the district is being informed its six other planned construction or renovation projects are also likely to cost much more than expected.

The district says a shortage of subcontractors leading to higher bids on jobs and the rising steel prices have contributed to the problem.

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Information from: Standard-Examiner, http://www.standard.net

(Copyright 2007 by The Associated Press. All Rights Reserved.)

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