Looking for an 8-Drive Server for Three People

I recently took over a department at a city government and found it in...calling it a state of disrepair would be generous. One of the first things I want to do it update their servers because they're fifteen years old and all have failure notices on them, so they're on their last legs and could go any day.

I'd like to get a a server with 128TB of storage with eight hot-swap tray drives (16TB drives). Our current server has two directories, one meant for active video editing and one meant for archiving footage and finished projects, so transfer speed will be important, but it doesn't necessarily need to have two drives to keep them separate.

The city's current client is recommending just upgrading the system and is quoting a little over $40,000 which seems incredibly high to me based on what I've described, including a $5,000 installation fee, so I'd love to get some other options, but a lot of the ones that I've found on my own, people seem to dislike.

Anyone have any recommendations based on what I've described? Or does $40,000 sound right and I should just bite the bullet? Apologies if I used any wrong terminology, I know video editing and software in general, but am not so much an expert with the hardware side of things. Thank you!