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[[underlined]] Restoration and Renovation of the Arts and Industries Building [[/underlined]]

The initial phase of the restoration and renovation of the Arts and Industries Building commenced in February 1974 and is scheduled for completion in February 1976. Grunley Walsh Construction Company is the contractor for the $2,838,000 contract which calls for renovation of major portions of the building and installation of a central heating and air conditioning system. The project is presently 46% complete and is approximately 2% ahead of schedule. Other work not included in this contract but which hopefully we will have accomplished prior to the Bicentennial would include roof and other exterior repairs to the building for which funds in the amount of $300,000 have been appropriated in fiscal year 1975. The total restoration and renovation of the Arts and Industries Building will be accomplished over a three to four year period, predicated on the availability of funds. Total amount for the project was estimated in fiscal year 1974 at $5,000,000.