During this month’s regular meeting, the Prosper Independent School District board of trustees approved a guaranteed maximum price for its ninth elementary school. The school is one of two new elementary schools slated to open in Prosper at the same time. This school will be located in the Miramonte Development in the southern portion of the district, and on Monday night the board unanimously approved a GMP of $23,536,403.

“The GMP simply allows the ISD to budget appropriately and protect against economic fluctuations once the price is set,” Superintendent Drew Watkins said in an email.

The $23.5 million price tag is purely for construction costs, Watkins reminded the board. Expenses not included with this cost could include furniture fixtures for the school.

“If there is a change (in construction costs) it will be less — that is a cap,” Watkins said in his email.

While this school will be part of the Prosper Independent School District, its location in the Frisco city limits requires it to have a storm shelter built with it. Watkins said in the meeting the shelter comes with about a $1 million price tag. He said the policy for storm shelters is a new requirement for schools built in the city of Frisco.

Watkins added at the meeting that the GMP for Elementary School No. 8, located near the Light Farms district in Celina, will be set at the July meeting. The new schools are scheduled to open in the fall of 2018.