ANN ARBOR, MI – A massive rise in material and labor costs could stymie the start of any new construction tied to Ann Arbor Public Schools’ capital bond this year.
District leaders reported a 44.4% rise in inflation related to projects in the second phase of AAPS’ campaign just over six years after voters approved a $1 billion capital bond.
Initially budgeting for a 2.1% rise, the 32% higher-than-expected difference will reportedly send officials back to the drawing board as they wait for the outcome of a sinking fund renewal request expected to go before voters in the months ahead…