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10/22/15 AC Minutes <br />school building projectcostssince 1997based on the cost per square foot. He noted that the <br />average annual inflation increase has been 8.85%,which is significantly greater than general <br />inflation increases during the same period.Pat Goddard, Director, Department of Public Facilities, <br />has explained to him thatnew state regulations relatingto sub-contractors areonesignificant factor <br />leading to the inflation of publicbuildingconstruction costs. Mr. Levine noted thata number of <br />other factors, including increased world-wide demand for steel and other construction materials, <br />may play a role as well. <br />The meeting adjournedat 9:15p.m. <br />The documentsused at the meeting arelistedbelow. <br />Respectfully submitted, <br />Sara Arnold <br />Recording Secretary <br />Approved November 5, 2015 <br />Exhibits <br />1.Agenda,posted byGlenn Parker, Chair <br />2.Handout on Proposed Action Under Articles7, 8 and 10, preparedby Mr. Addelson <br />3.Data on new construction costs in square feet for school projects in Lexington since 1997, <br />prepared Mr. Radulescu-Banu <br />3 <br />