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Presentation Overview
Capital Improvement Plan Capital Funding Options Meeting Outcomes Next Steps for Joint Meeting with Supervisors on April 23rd
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Completed or In Process Projects since 1998

(~$240M)
Auburn Elementary School 1998 Convert Riner Elementary to AMS - 1999 Eastern Montgomery High School 2000 Kitchen/Cafeteria Addition at SMS - 2001 Blacksburg Middle School - 2002 Christiansburg Middle School - 2003 Stadiums CHS, AHS, EMHS 2005, BHS 2007 Roof Replacements 1998 through 2002 EMES 2010 PFE 2011 Air Conditioning All schools School Board Office Relocation to Bldg C 2012 Auburn High School - 2013 Blacksburg High School - 2013 Auburn Middle School - 2014
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CIP Priority Guidelines

Critical overcapacity - age/deteriorated - and program Serious
age/deteriorated program limitations and future overcapacity limitations (classrooms, gyms, cafeteria, library, etc)

Important
overcapacity and/or other issues
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2013 CIP PROJECT PLANNING

Critical
PROJECTS
PRIORITY
2006 2013 (proposed) Critical

PROPOSED FUNDING
Date Source

Christiansburg Area Elementary Project (Combine, Recapitalize and Add, Replace)

Includes all elementary schools in Christiansburg Area Belview 1954, CES 1963, CPS 1972, FBE 1992

Critical

Christiansburg High School Project 1974 (Combine, Recapitalize and Add, Replace) Annual Budgeting for Capital Maintenance Projects (Cardno TEC)
@ $2M/year

Important

Critical

Critical

2013 CIP PROJECT PLANNING

Serious
PROJECTS PRIORITY
2006 2013 (proposed) Serious

PROPOSED FUNDING
Date Source

Shawsville Middle School (1935) (Combine, Recapitalize and Add, Replace) Alternative School, to include Independence Secondary, Rivendell, and Phoenix Program
OCMS main building is a temporary option

Serious

Serious

Technology Building (1953) (Recapitalize and Additions, or Demolition)

May need expansion area for CHS project Additions, windows, paving, roofing

Important

Serious/ Important

New Joint County and School System Support Building at the County Gov. Center
Technology, Facilities, Warehouse To alleviate space concerns at CHS site and Transportation

Important

Serious/ Important

2013 CIP PROJECT PLANNING

Important
PROJECTS PRIORITY
2006 2013 (proposed) Important

PROPOSED FUNDING
Date Source

Blacksburg Area Elementary Project (Combine, Recapitalize and Add, Replace)

Gilbert Linkous 1964, Margaret Beeks 1963, Harding Avenue 1972

Important

Athletic Support Facilities

One high school completed by boosters

Important

School/ Community Funding

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Funding Options
Three principle means:
Cash Use current revenues to pay for projects Bonds Borrow in bond market (General Obligation Bonds, Literary Fund, Virginia Public School Authority, Industrial Development Authority IDA Bank Loan Borrow direct from bank, usually used for interim or short term

Cost, funding availability, interest rates, fees, and timing will influence approach used
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Funding Example
Borrow $100,000,000 @ 4% for 20 years Annual Principal & Int. = $7,358,175 If a 1 cent tax increase = $700,000, Then the Estimated Impact Tax Rate = 10.5 cents

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Macro Cost Estimate

New elementary 600 students Recapitalize @ 80% of new Current $23.0 M $18.4 M In 5 Years $25.0 M $20.0 M $67.5 M $54.0 M

New High School 1400 students $62.5 M Recapitalize @ 80% of new $50.0 M

Above estimates based on cost of recent & current projects variables of existing land & buildings may decrease or increase cost. Above estimates do not include land costs.
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Meeting Outcomes
Current Capital Priorities Reach Agreement Funding for Feasibility Study for Critical Projects in the Christiansburg Area - Request

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What are the goals of a Feasibility Study?

Determine Capacity and Program Planning Develop and Recommend Project Options
Such as Recapitalization and Additions; Build New; Combine Schools; Redistricting Order of Magnitude Estimates

Identify Zoning Regulations Issues Identify Building Code and Regulatory Issues Identify Utilities Infrastructure Issues Identify Traffic, Road, Property, and Security Issues

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Next Steps to Prepare for Joint Meeting with Supervisors on April 23rd
Share Project Priorities Matrix Share established need for capital maintenance funding stream Share capital project needs requiring short and long term funding Discuss funding opportunities and methods to meet long and short term capital needs of the school division
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