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33 <br />and recently confirmed — reflects a total estimated project cost of $15,911,710. The origin of the <br />estimate included in the 2012 document is not clear and has therefore been modified to reflect the <br />updated amount. Funding of development costs remain in 2014 -15, pending discussion of the <br />latest Schools Adequate Public Facilities Ordinance numbers. <br />Elementary #8 <br />A total of $300,000 was approved in 2012 -13 to begin preliminary planning for a new Elementary <br />School. The remaining $18,500,000 development costs were requested in equal portions over two <br />years, beginning in 2013 -14. It is unclear from whence these development costs were derived. <br />Development costs provided by Corley Redfoot Architects —and recently confirmed — reflect <br />estimated costs for a non - prototype school to be $21,778,200. <br />An estimated $800,000 savings could be realized through reduced professional services fees <br />should the Board choose to pursue a prototype school. Project cost for a facility using the design <br />for the Morris Grove Elementary in the Chapel Hill Carrboro System would come in at an estimated <br />$20,961,200. <br />The CIP document will be modified to reflect appropriate cost and projected development timeframe <br />following the Board's discussion about this item. <br />FINANCIAL IMPACT: The County Budget Office has reported these revenues are available for funding <br />the District's Capital Investment Plan for FY 2014: <br />• Pay -As- You -Go Funds $1,434,067 <br />• Lottery Proceeds $ 513,851 <br />• Article 46 Proceeds $ 490,000 <br />Total $2,437,918 <br />RECOMMENDATION: The Superintendent recommends the Board discuss projects as presented; and <br />provide feedback to staff regarding projects to be included in the final CIP, which will be presented for <br />Board approval on February 11, 2013. <br />