|
|
|
Option 1 |
|
Option 2 |
|
Option 3 |
|
Option 4 |
|
Option 5 |
|
|
|
|
|
|
|
|
Project Alternative: |
|
Build New MS |
|
Build New MS |
|
Purchase Vacant |
|
Add HS
|
|
Portable Class |
|
|
|
Changes: |
|
As Designed |
|
As Designed |
|
Building |
|
Add Russell St |
|
Room Cost |
|
|
|
|
|
Immediate |
|
Delay 5 years |
|
Renovate |
|
Close MS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes: |
|
50 Yr solution |
|
50 Yr solution |
|
50 Yr solution |
|
50 Yr solution |
|
20 Yr solution |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross
project cost calculation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Current New MS design - Completed |
|
$ 1,000,000.00 |
|
$ 1,000,000.00 |
|
$ 1,000,000.00 |
|
$ 1,000,000.00 |
|
$ 1,000,000.00 |
|
|
Old MS demolition and removal |
|
500,000.00 |
|
500,000.00 |
|
500,000.00 |
|
500,000.00 |
|
500,000.00 |
|
|
Building construction complete - 2004 |
|
16,300,000.00 |
|
16,300,000.00 |
|
|
|
|
|
|
|
|
Additional design costs - code change |
|
|
|
500,000.00 |
|
|
|
|
|
|
|
|
Construction cost increases (9%/yr) |
|
|
|
8,779,570.46 |
|
|
|
|
|
|
|
|
Renovation Costs ($175/sq) |
|
|
|
|
|
12,950,000.00 |
|
|
|
|
|
|
Land/Building Purchase - ( 50K Sqft = $6m) |
|
|
|
|
|
1,500,000.00 |
|
|
|
|
|
|
HS Addition - Start 2 years |
|
|
|
|
|
|
|
2,450,250.00 |
|
|
|
|
RSS Addition - Start 3 years |
|
|
|
|
|
|
|
13,476,375.00 |
|
|
|
|
Cost of Delay - Repairs/Portables |
|
|
|
1,500,000.00 |
|
500,000.00 |
|
900,000.00 |
|
4,770,000.00 |
|
|
RSS Renovation - Start 3 years |
|
|
|
|
|
|
|
16,304,750.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Gross Project Cost |
|
17,800,000.00 |
|
28,579,570.46 |
|
16,450,000.00 |
|
34,631,375.00 |
|
6,270,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
| Estimated
State Reimbursement |
|
|
|
|
|
|
|
|
|
|
|
|
State Reimbursement Base Amt |
|
14,262,295.08 |
|
|
|
-
|
|
|
|
- |
|
|
Increased by 3.5% average |
|
|
|
16,939,132.56 |
|
- |
|
15,278,127.05 |
|
- |
|
|
State Reimbursement Percentage |
|
61% |
|
43% |
|
0% |
|
43% |
|
0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Projected State Reimbursement |
|
8,700,000.00 |
|
7,283,827.00 |
|
-
|
|
6,569,594.63 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost net of state reimbursement |
|
9,100,000.00 |
|
21,295,743.47 |
|
16,450,000.00 |
|
28,061,780.37 |
|
6,270,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
RSS renovation ( $5-9 million ) |
|
5,000,000.00 |
|
5,000,000.00 |
|
5,000,000.00 |
|
|
|
5,000,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total including RSS |
|
14,100,000.00 |
|
26,295,743.47 |
|
21,450,000.00 |
|
28,061,780.37 |
|
11,270,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Prin & Interest Pymts |
|
|
|
|
|
|
|
|
|
|
|
|
MS Project Option |
|
14,816,005.86 |
|
37,575,507.04 |
|
28,272,041.74 |
|
-
|
|
6,721,120.00 |
|
|
Design Fees |
|
-
|
|
1,236,710.00 |
|
1,236,710.00 |
|
1,236,710.00 |
|
1,236,710.00 |
|
|
Russell St Renovation |
|
7,548,131.94 |
|
7,548,131.94 |
|
7,548,131.94 |
|
43,311,487.08 |
|
7,548,131.94 |
|
|
Total Project |
|
$
22,364,137.80 |
|
$
46,360,348.99 |
|
$
37,056,883.68 |
|
$
44,548,197.08 |
|
$
15,505,961.94 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax Pymt @ $360k Value FY06 - FY10 |
|
|
|
|
|
|
|
|
|
|
|
|
FY06 |
|
56.75 |
|
4.38 |
|
16.42 |
|
14.68 |
|
4.38 |
|
|
FY07 |
|
253.59 |
|
35.51 |
|
107.79 |
|
119.24 |
|
126.79 |
|
|
FY08 |
|
246.84 |
|
33.90 |
|
220.10 |
|
279.50 |
|
121.04 |
|
|
FY09 |
|
247.31 |
|
205.94 |
|
511.62 |
|
724.55 |
|
122.44 |
|
|
FY10 |
|
249.01 |
|
654.14 |
|
504.23 |
|
705.54 |
|
124.88 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Average over project life (Incl Short-term debt) |
|
$ 261.08 |
|
$ 375.86 |
|
$ 397.77 |
|
$ 495.15 |
|
$
153.22 |
|
|
# years of debt
service |
|
22 |
|
26 |
|
24 |
|
24 |
|
22 |
|
|
Total over years of debt service |
|
$
5,743.86 |
|
$
9,772.35 |
|
$
9,546.38 |
|
$
11,883.58 |
|
$
3,370.82 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|