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Revenues Impact Fees -graph {there was a spike, and now it is going down) Pay As You Go -graph Alternative Financing -graph Recurring Capital -graph Capital Revenue Summary -graph Steve Scroggs said that he did not want to present a doom and gloom picture, but only the reality of capital funding in the 5-10-year period far CHCCS. Commissioner Gordon asked about estimated costs for the new schools and how the land casts were ascertained. She verified that there was already a middle school site and an elementary school site at Twin Creeks. There is also a "future educational site" at Twin Creeks. Commissioner Gordon said that CHCCS should look at this third site as a possibility for a school. She said that there was discussion about using a Scroggs footprint far this site. Commissioner Gordon made reference to the First School and asked if there were going to be two. Steve Scroggs said that the First School in Carrbara will be in an existing facility. It will not have the size ar scope that the one attached to Seawell Elementary School will have. Seawell Elementary is designed to have seven pre-K to 3`d grade classrooms, with the capacity for 100 children. The Board of Education has not approved this First School yet. The presentation will be on April 12t". This First School would pull Elementary School #`12 closer because there would not be as much elementary Schaal capacity with the First School in place. Commissioner Gordon asked what was worked out with Carolina North and Steve Scroggs said that First School was the first step in the conversations with Carolina North, and developers of Carolina North have said that there would be another school site in the Carolina North property. It would most likely be an elementary school. Commissioner Gordon said that she would like to see what CHCCS could do with the Twin Creeks property and the Carolina North property, since they would not have to pay for land costs at these sites. Commissioner Foushee asked if, in discussions with Carolina North about the First School, did CHCCS talk about UNC paying some of the costs and Steve Scroggs said yes. This information will be presented to the Board of Education on April 12t". He said that UNC has committed to pay for a substantial piece of this building. Also, because it will have pre-K, Head Start is willing to fund 25°~ of the capital costs for the areas that serve 3- and 4-year olds. Commissioner Foushee made reference to the estimated costs for the Central Office and asked if this includes construction and land costs and Steve Scroggs said that it only includes construction costs. He said that there is land across from Chapel Hill High School and land that Commissioner Gordan referred to earlier (Twin Creeks). Chair Carey asked about the acreage of the lots and Steve Scroggs said that the site across from the high school is 11 acres. Chair Carey asked about the ArtsCenter school and the construction costs and Steve Scroggs said that the ArtsCenter is going to expand and they want to build something that is attractive to kids and students. Steve Scroggs said that there have only been preliminary discussions. He thinks that it would be a good move financially. Chair Carey asked about the timeline and Steve Scroggs said that within a year they would like to begin serious discussions. Commissioner Nelson made reference to the Lincoln Center and the costs of renovations versus new construction. Steve Scroggs said that the Lincoln Center is, to him, a historical building that should be preserved. There have been discussions about preserving the front, retrofitting the inside and adding an additional building on the back. There is already a