Option 2: Build New in Two Phases

  • PowerPoint Presentation (15 slides)
  • Video (overview of all three options starts at about 00:28:00; presentation on Option 2 starts at about 00:31:50)
  • 2021 Phase 1 completion and 2028 Phase 2 completion
    • Today's fifth graders enter 9th grade when Phase 1 is complete
    • Today's preschoolers enter completed school
  • Phase 1 allows for four acres of commercial/economic development and Phase 2 allows for two to four more acres of commercial/economic development
  • $147 million cost (estimated)
    • $64 million Phase 1 cost (estimated)
      • Science, labs, arts, auditorium
      • Critical fixes to existing building
      • Demolish auditorium and The Learning Center
      • Allows for four acres of commercial/economic development
    • $83 million Phase 2 cost (estimated)
      • Construct remainder of new school
      • Demolish existing school
  • Potential sale or lease value
    • $14 million to $18 million for Phase 1
    • $7 million to $9 million for Phase 2
    • $21 million to $27 million total
  • Estimated annual tax yield
    • $2 million from Phase 1 in 2026
    • $1 million from Phase 2 in 2033
    • $3 million total
  • Summary
    • Highest cost option
    • Pushes half of the cost out 8 years
    • Lowers financial risk
    • Allows first phase of commercial/economic development to occur prior to taking on full financial costs
    • Increases school operational difficulties

The Two Phases in Photos


The following seven birds-eye view photos show the five steps necessary to complete a two-phase project.
Opt2_Step1
Opt2_Step2
Opt2_Step3
Opt2_Step4
Opt2_Step5
Opt2_Step6
Opt2_FullBuildout