High School and Vocational Center Project. Public Informational Sessions October 2009. Presentation Outline. Why the project is necessary Features of the plan The numbers (cost of the project) The impact (cost in the context of annual budgets) A statement on accountability
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Public Informational Sessions
The current high school and vocational building opened over 40 years ago. While it has been well cared for over the years, it no longer meets the educational needs of our students in a wide variety of areas, identified most recently in the NEASC (New England Association of Schools and Colleges) accreditation report in 2006.
The plan includes construction of a new Vocational and Educational Services building to house the automotive and building trades vocational programs, the transportation repair facility, and administrative office for the transportation, facilities, and food service programs.
This new building, to be built adjacent to the high school on land owned by the District, will be constructed using pre-fabricated metal materials and traditional bricks and mortar to achieve maximum durability at an affordable cost.
Renovations within the current High School and Vocational Center include:
Total Project Cost: $13,837,000
$4.57 million for the Vocational and Educational Services Building
$9.26 million for the High School and Vocational Center renovations
The District has been pre-approved by the Commissioner of Education for $10 million in 0% interest QSCB (Qualified School Construction Bonds--part of the stimulus bill), saving over $5.5 million over the life of the bonds compared to traditional financing. These 0% interest bonds are not likely to be available after 2010.
The District’s 10-Year Facilities Plan began with identifying savings in more efficient use of all District facilities:
Total average annual savings of the above: $625,000
Total savings over 10 years: $5.35 million
The District budget over the past 10 years has included an average of $473,804 in local costs for construction-related bonds (Stevens Brook, the athletic complex, and Lake Region Middle School).
As these bonds are retired over the next 10 years, the District will be able to absorb additional bonding with manageable annual impact.
Subsidy and Facilities Savings: $1,311,388
Debt Service: $1,428,241
Debt Service: $1,799,652
Subsidy and Facilities Savings: $1,023,239
Using the average annual amount of $268,609 net impact during the next 10 years, here’s how a ‘Yes’ vote would affect your tax bill over that time period:
For every $100,000 of assessed property valuation, theaverage 10-year impact (after debt retirement and facilities savings are included, and compared to what we currently spend):