Section Ed 321.24 - Maximum Allowable Construction Cost(a) School building aid grants shall be subject to the maximum allowable construction cost under RSA 198:15-b,IV(a).(b) School building aid shall be calculated based upon the actual construction cost or the maximum allowable construction cost, whichever is lower. The department shall publish the maximum allowable construction cost no later than November 1 of each year. The annually published maximum allowable construction cost shall apply to construction which begins after March 31 of the following year.(c) The department shall use construction cost and inflation indices developed by the R.S. Means Company of Kingston, Massachusetts as the basis for setting the annual maximum allowable construction cost. The department shall compare the R.S. Means data to actual construction costs for the previous 3 years, and shall adjust the maximum allowable cost upward if the R.S. Means data is lower than the average cost for the previous 3 years after adjusting the actual costs for inflation.(d) The school district may request a waiver under Ed 321.28 for the maximum construction cost allowed under Ed 321.24.N.H. Admin. Code § Ed 321.24
#8265, eff 1-22-05; amd by 8631, eff 5-19-06; ss by #10363, eff 6-15-13
Amended by Volume XL Number 28, Filed July 9, 2020, Proposed by #13054, Effective 6/12/2020, Expires 6/12/2030.