Greenwich board adds $1.9 million to school renovation, one dissent
Other Committee · Meeting of January 20, 2026
Greenwich finance board adds $1.9 million to school renovation over one dissent. The Board of Estimate and Taxation voted 12-0 to approve a total interim appropriation of $8,177,174 for the Old Greenwich School expansion and renovation project, after two amendments raised the project's contingency from 7 percent to 10 percent and expanded roof work. Member Tarkington cast the lone no vote on both amendments, saying "I certainly support the condition, but I'm not the additional 3 percent." The board separately approved $1,061,000 for North Street Bridge Rehabilitation, where Commissioner Jim Michael's project carries a $200,000 contractor incentive to reopen the road by late August.
Controller Joan Lynch reported AAA ratings from Moody's and S&P ahead of a $40 million bond sale, and board member Fischer said Aquarion water-pressure problems have cut Central Middle School's contingency to about 4.2 percent.
In the full story:
- The complete report — 1,080 words
Source: the Other Committee meeting of January 20, 2026, reported from the official video recording and transcript.
The Full Article
GREENWICH — January 20, 2026 — The Board of Estimate and Taxation voted 12-0 Tuesday to approve a total of $8,177,174 in additional funding for the Old Greenwich School expansion and renovation project, after two contested amendments raised the project's contingency fund from 7 percent to 10 percent over the objection of one member.
The board also approved a separate $1,061,000 additional appropriation for the North Street Bridge Rehabilitation project, unanimously accepted a controller's report showing AAA bond ratings from both Moody's and S&P, and heard from Assessor Elliott that the 2025 property revaluation's informal hearing process is complete.
The Full Story
The Old Greenwich School item began as a $6,277,940 interim appropriation request, presented to the board's budget committee by James Waters, chair of the Old Greenwich School Building Committee, along with vice chair Jackie Welsh, Superintendent of Schools Dr. Tony Jones and Director of Facilities Dan Watson. Board member Ericson, reporting for the budget committee, said the project currently has available funding of about $47 million and that the interim request would bring the total project cost to roughly $54 million, allowing the building committee to enter into contracts and begin construction in April following a second round of bidding.
Two amendments expanded the request. The first, offered by board member Selps, added $480,393 to expand the scope of roof work the Board of Education had separately approved the prior week; it passed 11-1, with member Tarkington opposed. The second, also offered by Selps with a condition attached by member Fischer, added $1,418,842 to raise the project's owner contingency from 7 percent to 10 percent, bringing it in line with revised guidance after the committee learned the Central Middle School project was carrying only a 6 percent contingency on new construction. Fischer's condition requires any release of the additional 3 percent contingency to come only after the full board receives a supporting report from the building committee documenting the need. That amendment also passed 11-1, with Tarkington again dissenting. The board then approved the fully amended item, bringing the interim request to $8,177,174, by a vote of 12-0.
"I certainly support the condition, but I'm not the additional 3 percent, so voting no," board member Tarkington said of her dissent on the contingency increase.
Separately, the board approved $1,061,000 in additional funding for the North Street Bridge Rehabilitation project on Public Works Commissioner Jim Michael's request. Ericson told the board the project's total cost is now $4.76 million, including a 15 percent contingency, higher than the 10 percent the state will reimburse, because construction will run through the spring and summer months when the Representative Town Meeting does not convene. Four bidders submitted proposals in mid-December, with the low bid at $3.8 million.
"The road is expected to open by the end of August before school resumes, and there is a $200,000 incentive payment for the contractor to meet this milestone, which is a first for a DPW bridge contract," Ericson told the board.
Controller Joan Lynch reported that Moody's and S&P issued the town's highest possible ratings, AAA, following credit reviews conducted January 8, ahead of a planned $40 million general obligation bond issue and $140 million bond anticipation note sale scheduled for Thursday. She also reported the town's retirement portfolio posted a 10.84 percent return for calendar year 2025 on a total market value of $735.4 million, and that roughly $400,000 in unspent federal ARP funds remains, out of about $5.5 million still to be encumbered, mostly tied to sewer and human services projects.
Board member Fischer, giving his final report as a Central Middle School building committee member, said substantial completion is now targeted for August 4, two days earlier than projected in December. He said the project's contingency has been reduced from 6 percent to about $1.63 million, or roughly 4.2 percent, after the fire marshal required additional fire protection and a dispute with Aquarion over water pressure guarantees forced the committee to install two 4,000-gallon tanks and a fire pump building to serve the sprinkler system.
"Aquarion has a habit of guaranteeing water pressure and then not guaranteeing water pressure," Fischer said.
Why It Matters
The Old Greenwich School renovation, now approved for roughly $54 million in total funding, is being built in six phases inside an occupied school, and the added contingency reflects the town's effort to avoid funding gaps mid-project, as happened with fire protection and water-pressure issues now affecting the separate Central Middle School build. Residents can weigh in on the town's broader fiscal 2027 budget at a public hearing following presentations by the superintendent and First Selectman on January 27 at 6 p.m., with public comment open in person, by Zoom registration by noon that day, or by email through midnight.
Key Motions & Votes
- Vote: Accept assessor's report Tally: Approved unanimously - Vote: PW3, $1,061,000 additional appropriation for North Street Bridge Rehabilitation Tally: For: 12, Against: 0, Abstain: 0, Total: 12 - Vote: FI5, bonding resolution for North Street Bridge Rehabilitation Tally: Approved unanimously - Vote: BOE5 amendment adding $480,393 to expand roof scope Tally: For: 11, Against: 1, Abstain: 0, Total: 12 - Vote: BOE5 amendment adding $1,418,842, raising contingency from 7 to 10 percent, subject to release condition Tally: For: 11, Against: 1, Abstain: 0, Total: 12 - Vote: BOE5 as amended, total interim appropriation of $8,177,174 for Old Greenwich School expansion and renovation Tally: For: 12, Against: 0, Abstain: 0, Total: 12 - Vote: BOE6, release of conditions on $1,965,000 from prior appropriation Tally: Approved unanimously - Vote: FI4 amendment updating bonding resolution amount to $8,177,174 Tally: Approved unanimously - Vote: FI4, bonding resolution for Old Greenwich School expansion and renovation project Tally: Approved unanimously - Vote: HS1, accept $47,489.68 Youth Service Bureau grant Tally: Approved unanimously - Vote: Accept controller's report Tally: Approved unanimously - Vote: Accept treasurer's report Tally: Approved unanimously - Vote: Approve fiscal 2024-25 annual report, subject to minor corrections Tally: Approved unanimously - Vote: Accept annual comprehensive financial report as of June 30, 2025 Tally: Approved unanimously - Vote: Accept state single audit as of June 30, 2025 Tally: Approved unanimously - Vote: Approve minutes of the December 15, 2025 meeting Tally: For: 8, Against: 0, Abstain: 4, Total: 12 - Vote: Approve minutes of the January 7, 2026 organizational meeting Tally: Approved unanimously
Source
Greenwich Community Television: Board of Estimate and Taxation meeting, January 20, 2026