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<br />located on one or more of the identified parcels adds <br />uncertainty to the high school #3 development costs; and <br />WHEREAS, the BOARD OF EDUCATION estimates the total cost to <br />build high school #3 on the identified parcels to be <br />approximately $33,870,000; and <br />WHEREAS, although the concept plan presented by the BOARD <br />OF EDUCATION is for high school #3~to generally meet the <br />dimensional requirements of the Standards, the projected cost of <br />high school #3 exceeds the Standards for a high school with a <br />1,000 student capacity by approximately $4,000,000; and <br />WHEREAS, the amount of funding previously identified by the <br />BOARD OF EDUCATION and by the BOARD OF COMMISSIONERS for high <br />school #3 is approximately $27,800,000; and <br />WHEREAS, after careful consideration of all of the <br />uncertainties and circumstances surrounding high school #3, the <br />only reasonable way for the BOARD OF COMMISSIONERS to give <br />funding authorization necessary for high school #3 is to do so <br />holistically; and <br />WHEREAS, the BOARD OF COMMISSIONERS has held public <br />hearings on the use of $12,800,000 for high school #3 which <br />money was originally programmed for a tenth elementary school in <br />the Chapel Hill-Carrboro City School District in the 2001 bond <br />program and on the BOARD OF EDUCATION selected location of high <br />school #3; and <br />4 <br />