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HomeMy WebLinkAboutCapital Improvement Plan presentationCapital Improvement Plan Town of Westlake 2 What is the Hayes Report? It is a school facility plan based on a certain model. 3 Model Assumptions •Financially = size equals economy of scale •Economy of scale = requires a larger student body •Larger student body = requires additional facilities •Additional facilities = will serve existing and future needs •Aggressive model = a design/build in year one and populate in year two 4 Financial Assumptions Student body growth equals additional State funds which … •services approximately $15 million in new debt for new facilities (interest rate sensitive) •covers increased operating costs to include additional support personnel •requires moving Grade 6 up to Secondary school •requires increase class size to 22 students in Primary and 27 students in Secondary 5 Policy Issues – Consider… •Vision for the school? •What is the cultural impact? 6 Policy Issues Question – Can we remain financially viable with the current enrollment level and operation costs? 7 Policy Issues Answer – Yes, but…no money for new facilities. 8 Classroom Portables 9 Policy Issues Question- Can we remain financially viable and have new facilities? 10 Policy Issues Answer – Yes, but we must understand the pros and also the risks. 11 Understanding the Pros and Risks Pros: •New facilities •Needed facilities •Fairly quickly •Self-funding of debt for new facilities •Larger student body 12 Understanding the Pros and Risks Risks: •Aggressive schedule •Requires aggressive teacher recruitment •Requires aggressive student/parent on-boarding •Larger student body •Self-funded , but bonds backed with a property tax pledge 13 It is important to ask… What does the Hayes report look like in the context of the Town’s Capital Improvement Plan? 14 Proposed Funding Sources (Funded Projects only) Funding Sources FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 Contributions/Grants $1,278,594 $3,048,060 $172,000 $0 $0 Governmental Funds $914,140 $299,520 $0 $0 $0 Governmental Bonds $711,800 $1,764,800 $1,492,125 Utility Fund $603,603 $0 $0 $0 $0 Utility Bonds $0 $1,520,489 $0 $0 $0 15 Proposed New CIP (Academy & Municipal) Funded: •$4.6 million for Dove Rd/Ottinger Rd improvements funded by Hillwood per our development agreement. Unfunded: (Has funding source) •$15.5 million for various WA campus improvements •$3.5 for a Town office building on the WA campus, north of the retention pond on JT Ottinger Rd 16 Possible WA Capital Projects 17 High School Building •Approximately 22,570 sq ft. •Estimated Construction Cost: –$5,400,000 –Planned as 4-story structure •Computer / engineering labs / administrative and special education facilities 18 Middle School Building •Approximately 19,320 sq ft. •Estimated Construction Cost: –$4,300,000 –Planned as a 2-story structure •Science / computer labs / art room 19 Media Center •Approximately 3,000 sq ft. •Estimated Construction Cost: –$1,000,000 –Planned as 1-story structure •Adjacent to current Arts & Science Building 20 Multi-purpose Building •Approximately 4,500 sq ft. •Estimated Construction Cost: –$1,700,000 –Planned as 1-story structure •Flexible space for large group gatherings and future expansion •Cafetorium – with warming kitchen 21 Primary School Addition •Approximately 5,200 sq ft. •Estimated Construction Cost: –$1,400,000 –Planned as 1-story structure •Additional classroom space 22 Performance Hall •Shell build-out •Approximately 11,500 sq ft. •Estimated Construction Cost: –$1,500,000 –Without furniture or fixtures •Assumption is FFE will be provided through donations 23 Municipal Office Building •Approximately 12,000 sq ft. •Estimated Construction Cost: –$3,500,000 –Planned as 2-story structure –Located on Town property – just north of retention pond, off J. T. Ottinger Rd. •Designed to serve community •Flexible meeting space for community events and affiliate groups Proposed Westlake Town Hall Proposed Westlake Town Hall 26 Municipal Office Building Financing •Project Cost - $3.5 million •12,000 sq ft •Office & Multi-Use Space •Financing –$2.8 million bonds serviced by current funding used for office lease payment –$700,000 Cash 27 ROI for Municipal Office Building •Total Project Cost $3.5 million •30 year amortization •Leasing over same period = $8.6 million •Total cost of ownership = $7.3 million 28 Current Transportation Projects (Funded) •FM 1938 Streetscape •Dove / JT Ottinger Rd Landscaping* •Aspen Lane Reconstruction & Drainage •Stagecoach Hills Street Reconstruction & Drainage •N. Roanoke Rd Reconstruction & Drainage (N of SH 170) •S. Roanoke Rd Reconstruction & Drainage (SH 170 – Town Boundary) •Sam’s School Rd Reconstruction & Drainage * Included in Hillwood Developer Agreement 29 Current Transportation Projects (Funded) •Dove Rd Creek Crossing* •W. Dove & JT Ottinger Rd Reconstruction & Drainage* •E. Dove Rd Reconstruction & Drainage (Vaquero – Town Boundary) •Dove / JT Ottinger Rd Intersection* •Dove / N. Pearson Lane Intersection* •Mahotea Boone •Street Survey •Deloitte Vehicular Entry* •WA Vehicular Entry Improvements* * Included in Hillwood Developer Agreement 30 Current Utilities Projects (Funded) •TRA Assumption of N-1 Sewer Line •N-1 Sewer Line Transfer – Inflow & Infiltration Repairs •Stagecoach Hills Waterline Connection •Ground Storage Tank 31 Current Facilities and Parks & Recreation Projects (Funded) •WA Dining Hall Expansion •Trail Connection - WA to Vaquero Underpass * * Included in Hillwood Developer Agreement 32 Discussion, Q & A