HomeMy WebLinkAboutPresentation A&S Cost 08Westlake Academy Arts &
Sciences Center Construction
and Funding Update
June 23, 2008
Funding Sources as of June 2008
G.O. Bond Funds $2,467,000
Texas Student Housing $500,000
Foundation Donations $536,136
Lee Gift (Restricted to Art Portion) $500,000
Interest $ 22,305
Sub-total of cash on hand $4,025,441
Prospective Grant $250,000
Anticipated Pledge by Sept. 08 $89,270
GRAND TOTAL $4,364,711
Projected Total of Cash and Pledges
Anticipated Cash on Hand at Sept. 08 $4,364,711
Future Pledges 2008-2012 $403,895
GRAND TOTAL $4,768,606
Construction Phasing Choices
Total Costs
Oct. 08
Variance From
Phase I
A. Phase I $4,561,110
B.Phase I
Complete and II
Foundation Only
$4,724,488
$163,378
C.Phase I complete & II shell
$5,621,708
$1,060,598
FF& E Not include for Art Room & Black
Box
D.Phase I & II
Complete
$6,484,462
$1,923,352
Phase Funding: Cost to
Funding Comparison
A B C D
Phase I Phase I & II
Foundation Only
Phase I &
Phase II Shell
Phase I & II
Complete
Current
Funding
$4,364,711 $4,364,711 $4,364,711 $4,364,711
Total Expenses $4,561,110 $4,724,488 $5,621,708 $6,484,462
Unfunded
Portion
$196,399
$359,777
$1,256,997
$2,119,751
Unfunded Portion of Phase I & Phase II/Building Shell $1,256,997
Future Pledges $403,895
Total Funds Needed to Complete option C $853,102
Decision Time and Cost
Sept. 08 Oct. 08 Nov. 08 Dec.08 Jan.08
Phase I
Complete
$4,561,100 $4,561,110 $4,561,110
$4,561,110
$4,561,110
Phase I w/
Phase II
Foundation
$163,379
$169,147
*$5,768
$174,914
*$11,535
$178,182
*$14,803
$181,449
*$18,070
Phase I w/
Phase II Shell
$897,219 $940,163
*$42,944
$983,108
*$85,889
$1,026,052
*$128,833
$1,068,997
*$171,778
Phase I & II
Complete
$702,755 $716,810
*$14,055
$730,865
*$28,110
$744,920
*$42,165
$758,975
*$56,220
Add’l
FF&E
needed
$160,000
$160,000
$160,000
$160,000
$160,000
Total $6,484,463 $6,547,230 $6,609,997 $6,670,264 $6,730,531
* Increase in cost due to inflation, remobilizing contractors
Key Decision Points
A. Only Phase 1?
$196,399 Needed
B. Phase I Complete & II Foundation Only?
$359,777 Needed
C. Phase I Complete &II Shell only?
$1,256,997 Needed
D. Phase I & II Completed?
$2,119,751 Needed
E. Deadline for Funds Raised?
Phase I & II Complete
13,700 square feet
Cost - $6,526,051
Two lab classrooms, one physics classroom
One conference room, five offices, restrooms,
storage, electrical, janitorial, teacher restroom
data room, parking area, black box theatre art
room, dressing rooms, additional storage for
art and theatre.
Phase I
8,730 square feet
Cost - $4,745,391
Two lab classrooms
One physics classroom
One conference room, 5 offices, restrooms, storage,
electrical, janitorial, teacher restroom, data room,
parking area
Phase I & II Foundation Only
Cost - $4,908,770
Full Phase I with fencing over the foundation
Parking area
Limited side walks and retaining walls