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West Falls Project
Past Meeting Videos & Materials
Community Meeting Extra Materials (February 2017)
Affordability
Affordability
PowerPoint Presentation
(20 slides)
Video
(topic starts at about 00:39:28)
Option 1: Renovation and Addition
Lowest direct cost
Higher annual maintenance costs
No land sale, no commercial/economic development
Option 2: Build New in Two Phases
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
Option 3: Build New in One Phase
Delivers new school most rapidly
Highest "upfront" cost
Risk of land sale and economic development not occurring immediately
Three Options Financing Summary
*Annual Tax Yield at year 5 after completion of School Facilities. Not guaranteed. Chart does not include Operating Budget Costs of new facilities.
Option
Cost (in millions)
Completion Year
Commercial/Economic Development
Potential Sale/Lease Value (in millions)
Annual Tax Yield* (in millions)
Renovation & Addition
$65
2021
No
$0
$0
Build New in Two Phases
Phase 1
Phase 2
Total
$64
$83
$147
2021
2028
about 4 acres
about 2 acres
about 6 acres
$14-$18
$7-$9
$21-$27
$2 in 2026
$1 in 2033
$3
Build New in One Phase
$117
2021
about 8-10 acres
$30-$42
$4-$5 in 2026
Background
Affordability
Option 1: Renovation & Addition
Option 2: Build New in Two Phases
Option 3: Build New in One Phase
Commercial or Economic Development
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