At last night’s meeting, the Santa Monica City Council approved financing and a Guaranteed Maximum Price (GMP) for construction services for the City Services Building (CSB). This City Hall addition will bring City employees spread out in different leased locations onto one campus offering streamlined public services and long-term fiscal savings.

Council approved Lease Revenue Bonds totaling $76,760,000 million for the project. The bonds carry a “Green Bond” designation due to the strong environmental qualities of the CSB as a “Living Building”, the highest green building standard available. 

Read More: https://smmirror.com/2017/08/financing-construction-guaranteed-maximum-price-city-hall-addition-approved-city-council/