Willdan Wins $76 Million Design-Build Contract in Colorado

Rhea-AI Summary

Willdan Group (NASDAQ: WLDN) has been appointed as the design-build lead for facility improvements in Pueblo County School District 70, with a total project budget of up to $76 million. The initial fee for design and pre-construction is $1.4 million. Funding has been secured through a BEST grant and a voter-approved bond, focusing on major upgrades to mechanical, electrical, plumbing systems, and security measures, including $6.3 million for COVID-19 mitigation. Project work begins in summer 2021, encompassing renovations across 19 schools and four district buildings.

Positive

• Secured up to $76 million project for facility improvements in Pueblo D70.
• Initial $1.4 million fee for design and pre-construction work confirmed.
• Funding backed by a BEST grant and a voter-approved bond measure.
• $6.3 million allocated for COVID-19 mitigation and security upgrades.

Negative

• Potential risks associated with COVID-19 affecting project timelines.

Willdan Group, Inc. (NASDAQ: WLDN) today announced that Pueblo County School District 70 (Pueblo D70) has selected Willdan as the design-build lead for facility improvements totaling up to $76 million. This is a progressive design-build contract that will be paid as a series of fees and executed amendments. Pueblo D70 has committed a first fee of $1.4 million to pay for design and pre-construction work up until the execution of the first amendment. Willdan will provide engineering and construction management to update 19 schools and four district buildings.

Willdan helped the Pueblo D70 secure a BEST grant and a voter-approved bond measure which will be used to fund these latest upgrades. A majority of the funds will go toward major mechanical, electrical, and plumbing upgrades, and $6.3 million will be devoted to infection control, COVID-19 mitigation measures, and districtwide security upgrades.

These projects are scheduled to begin in the summer of 2021. Scopes of work include minor to major sitework on parking lots, sidewalks, and drainage; roof replacements and repairs; new windows and doors; and classroom remodels and improvements such as new ceilings or flooring.

“The District took an important step when we created a facility master plan together,” said Tom Brisbin, Willdan’s CEO and Chairman. “We’re pleased to be here now, turning that plan into real projects that will benefit local students and teachers for years to come.”

Willdan began working with Pueblo D70 in 2016 to support the development of a district-wide, 15-year master plan. In 2018, Willdan delivered energy-efficient upgrades to fund core infrastructure needs for the district through an energy performance contract.

About Pueblo County School District 70

Pueblo County School District 70 is located in Pueblo, Colorado. It was consolidated from 34 smaller school districts in 1950 and is the second largest (by geographical size) school district in the state of Colorado. Pueblo D70 educates over 8,000 students from all over Pueblo County. For more information, visit https://www.district70.org/ or follow Pueblo D70 on Facebook.

About Willdan

Willdan is a nationwide provider of professional technical and consulting services to utilities, government agencies, and private industry. Willdan’s service offerings span a broad set of complementary disciplines that include electric grid solutions, energy efficiency and sustainability, engineering and planning, and municipal financial consulting. For additional information, visit Willdan's website at www.willdan.com.

Forward-Looking Statements

Statements in this press release that are not purely historical, including statements regarding Willdan’s intentions, hopes, beliefs, expectations, representations, projections, estimates, plans, or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that Willdan will not be able to reduce costs and preserve liquidity to maintain its operations during the continuation of this pandemic nor be able to resume its growth trajectory once pandemic-related restrictions are lifted and the economy begins to recover. It is important to note that Willdan’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the ultimate impact of the COVID-19 pandemic on Willdan’s results, prospects, and opportunities; Willdan’s ability to adequately complete projects in a timely manner; Willdan’s ability to compete successfully in the highly competitive energy efficiency services market; changes in state, local, and regional economies and government budgets; Willdan’s ability to win new contracts, to renew existing contracts, and to compete effectively for contract awards through bidding processes; and Willdan’s ability to successfully integrate its acquisitions and execute on its growth strategy. Willdan’s business could be affected by a number of other factors, including the risk factors listed from time to time in Willdan’s reports filed with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K filed for the year ended December 27, 2019 and Quarterly Report on Form 10-Q filed for the quarter ended April 3, 2020. Willdan cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any forward-looking statements in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210311005996/en/

FAQ

What is the total budget for the Willdan project in Pueblo D70?

The total budget for the facility improvements is up to $76 million.

When is the construction work expected to begin for WLDN in Pueblo D70?

Construction work is scheduled to begin in the summer of 2021.

How much is allocated for COVID-19 mitigation in the Pueblo D70 project?

There is $6.3 million allocated for COVID-19 mitigation measures.

What fee has Pueblo D70 committed for initial work with Willdan?

Pueblo D70 has committed an initial fee of $1.4 million for design and pre-construction work.

What services will Willdan provide for Pueblo D70?

Willdan will provide engineering and construction management for updates to 19 schools and four district buildings.