Option 1: Renovation & Addition

  • PowerPoint Presentation (9 slides)
  • Video (overview of all three options starts at about 00:28:00; presentation on Option 1 starts at about 00:30:24)
  • 2021 project completion
    • Today's fifth graders enter renovated school
  • No commercial/economic development
  • $65 million cost (estimated)
    • 30 year term, 4 percent interest
    • $3.7 million annual debt service
    • 9.25 cents on the real estate tax rate, which is $650 per year for an average household ($700,000 home)
  • $0 in potential sale or lease value (due to no commercial/economic development)
  • $0 annual tax yield (due to no commercial/economic development)
  • Summary
    • Lowest direct cost
    • Higher annual maintenance costs
    • No land sale, no commercial/economic development
Opt1 Birdseye