NHS Expansion Delay

Will Save Money

To the Editor:

It is clear that the very high bids received for completion of the high school expansion were driven by very high materials prices, with the bids “adjusted” higher by the bidders in fear of even much higher materials prices.

National and international economic events of the past two weeks should make clear that the materials prices on which the bids were based are way overstated. Oil is now down by a third (now under $100 per barrel), and metals prices have significantly declined. With the Wall Street financial disaster now on top of the subprime mortgage disaster it is clear that the US and the world is entering a very deep and painful recession — depressing commodity prices even further.

To contract now is to way overpay. We will get the most for the taxpayers money if we wait at least six months to let commodity and materials prices settle — and then rebid the project. We should not be “stampeded” into an additional capital appropriation now.

Richard Taylor

11 Leopard Drive, Sandy Hook                           September 16, 2008