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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