capital projects fund$2,419,845.73 design fees$ 189,756.89 total: $2,609,602.62 available funds:
TRANSCRIPT
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Capital Projects FundCapital Projects Fund$2,419,845.73$2,419,845.73
Design FeesDesign Fees $ 189,756.89$ 189,756.89TOTAL: $2,609,602.62
Available FundsAvailable Funds::
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Happy Hollow Task ForceHappy Hollow Task ForceFunding PresentationFunding Presentation
Assessed Valuation 2003 pay 2004Assessed Valuation 2003 pay 2004 $895,916,645$895,916,645
Ability To IssueAbility To Issue
General Obligation BondsGeneral Obligation Bonds $6,002,640$6,002,640
Holding Corporation BondsHolding Corporation Bonds
No LimitNo Limit
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General Obligation BondsGeneral Obligation Bonds Remonstrance Petitions if above Remonstrance Petitions if above 2,000,0002,000,000 may be reduced by approximately may be reduced by approximately $350,000$350,000 for Taxable Severance Bond. for Taxable Severance Bond.
Holding Corporation BondsHolding Corporation Bonds
Bonds sold to pay for Interest during Bonds sold to pay for Interest during Construction. Construction.
Same Remonstrance Process.Same Remonstrance Process. Holding Corporation sells bonds, leases Holding Corporation sells bonds, leases building.building. Holding Corporation pays bond interest while Holding Corporation pays bond interest while building construction takes place. building construction takes place.
Lease starts after construction is complete.Lease starts after construction is complete.
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Variable Cost ForVariable Cost ForProject BudgetsProject Budgets
Type of Construction:Type of Construction:
Construction Manager or General ContractorsConstruction Manager or General Contractors
Determination of Common Construction Wage
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Professional FeesProfessional Fees
AttorneysArchitectsConstruction Managers
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Bond Sale ProcessBond Sale Process
Pay Underwriter Fees in Advance?Pay Underwriter Fees in Advance? Bond Ratings and Bond Insurance?Bond Ratings and Bond Insurance? Negotiated Sale vs. Competitive Negotiated Sale vs. Competitive
Bidding?Bidding? Financial Advisor?Financial Advisor?
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Use of Funds on HandUse of Funds on Hand
Pay Professional Fees as Pay Professional Fees as earned vs. after sale of bonds?earned vs. after sale of bonds?
Exterior Renovations?Exterior Renovations? Sequence of Construction and Sequence of Construction and
possible temporary student possible temporary student quarters?quarters?
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Interest During ConstructionInterest During Construction
Length of Construction project Length of Construction project determines cost.determines cost.
Payouts for billing determines Payouts for billing determines interest income.interest income.
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Maintenance ProjectMaintenance Project
Smaller Dollars.Smaller Dollars. No Change to Facility.No Change to Facility. Update existing components.Update existing components.
Larger and more ComprehensiveLarger and more Comprehensive..
Capital ProjectCapital Project
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School Debt OptionsSchool Debt Options
Happy Hollow ElementaryHappy Hollow Elementary
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Construction CostConstruction Cost $ 9,008,392 $ 9,008,392 Bond IssueBond Issue $12,221,000 $12,221,000
Option H-2 - Low CostOption H-2 - Low Cost
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Option H-2 - Low Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $ 88.52 $ 88.52 $ $ 123.70123.70
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Construction CostConstruction Cost $10,365,480 $10,365,480 Bond IssueBond Issue $13,769,000 $13,769,000
Option H-2 – Middle CostOption H-2 – Middle Cost
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Option H-2 - Middle Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $ 99.73 $ 99.73 $ $ 139.37139.37
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Construction CostConstruction Cost $11,722,569 $11,722,569 Bond IssueBond Issue $15,315,000 $15,315,000
Option H-2 – High CostOption H-2 – High Cost
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Option H-2 - High Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $110.93 $110.93 $ $ 155.02155.02
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Construction CostConstruction Cost $12,061,679 $12,061,679 Bond IssueBond Issue $15,737,000 $15,737,000
Option H-4 – Low CostOption H-4 – Low Cost
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Option H-4 - Low Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $113.98 $113.98 $ $ 159.29159.29
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Construction CostConstruction Cost $13,468,770 $13,468,770 Bond IssueBond Issue $17,477,000 $17,477,000
Option H-4 – Middle CostOption H-4 – Middle Cost
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Option H-4 - Middle Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $126.58 $126.58 $ $ 176.90176.90
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Construction CostConstruction Cost $14,875,861 $14,875,861 Bond IssueBond Issue $19,317,000 $19,317,000
Option H-4 – High CostOption H-4 – High Cost
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Option H-4 - High Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $139.91 $139.91 $ $ 195.52195.52
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Construction CostConstruction Cost $11,536,529 $11,536,529 Bond IssueBond Issue $15,238,000 $15,238,000
Option B-6 – Low CostOption B-6 – Low Cost
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Option B-6 - Low Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $110.37 $110.37 $ $ 154.24154.24
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Construction CostConstruction Cost $13,699,945 $13,699,945 Bond IssueBond Issue $17,733,000 $17,733,000
Option B-6 – Middle CostOption B-6 – Middle Cost
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Option B-6 - Middle Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $128.44 $128.44 $ $ 179.49179.49
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Construction CostConstruction Cost $14,803,361 $14,803,361 Bond IssueBond Issue $19,230,000 $19,230,000
Option B-6 – High CostOption B-6 – High Cost
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Option B-6 - High Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $139.28 $139.28 $ $ 194.64194.64
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Construction CostConstruction Cost $11,265,455 $11,265,455 Bond IssueBond Issue $14,832,000 $14,832,000
Option B-4 – Low CostOption B-4 – Low Cost
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Option B-4 - Low Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $107.44 $107.44 $ $ 150.14150.14
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Construction CostConstruction Cost $12,712,331 $12,712,331 Bond IssueBond Issue $16,567,000 $16,567,000
Option B-4 – Middle CostOption B-4 – Middle Cost
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Option B-4 - Middle Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $119.99 $119.99 $ $ 167.69167.69
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Construction CostConstruction Cost $14,159,208 $14,159,208 Bond IssueBond Issue $18,302,000 $18,302,000
Option B-4 – High CostOption B-4 – High Cost
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Option B-4 - High Cost- Sample Tax Burden
Homeowner Non-Homeowner Non-HomeownerHomeowner
OccupiedOccupied OccupiedOccupied
Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $132.61 $132.61 $ $ 185.32185.32