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<br /> <br /> <br /> <br />Funding Sources <br />Bond Proceeds 28,845,900 <br />Fund Balances/other 5,576,000 <br />CIP contingency 2,400,000 <br />TOTAL $ 36,821,900 <br /> <br />Benefits <br /> <br />• Centralized Pre K is accomplished and its advantages realized: appropriate environment, <br />increased opportunities for targeted interventions, improved access for exceptional <br />children, improved occasions for staff development and coaching, better support for new <br />teachers. <br />• Provides the most immediate increase in elementary school capacity – 189 permanent <br />seats plus the repurpose of 8 mobile units. This positions the district to better meet the <br />needs for class size reductions and/or student growth. <br />• Expansion of Phoenix Academy is achieved and high school capacity is increased by 90 <br />seats. <br />• The district’s investment in the project is safeguarded. <br />• Proceeding now avoids re-bidding the project. <br /> <br />Challenges <br /> <br />• Remaining $44.2 million Bond proceeds for Chapel Hill High School. <br />• Potential exists for major revisions and decreased scope of work to CHHS project. <br />• Begin discussions to identify additional funding for CHHS. <br /> <br /> <br />Option 2 – Defer decisions until CHHS construction bids are opened in March/April 2018. <br /> <br />Benefits <br /> <br />• Waiting provides certainty regarding the cost of the two projects. <br />• Using current construction bid costs, if the total CHHS project is done with building <br />additions and renovations, the remaining Bond funds of $9-10M could be directed to <br />improve Lincoln Center buildings or other smaller projects. <br />• CHHS project produces an increase in high school capacity of 105 seats. <br /> <br />Challenges <br /> <br />• Proceeding with only the CHHS project means the centralization of Pre K and expansion <br />of Phoenix Academy are not realized and their resulting benefits not achieved. <br />• Abandoning centralized Pre K halts the increase in elementary school capacity thereby <br />eliminating possibilities to accommodate class size reductions and/or student growth. <br />• If the Lincoln Center Campus project is re-visited in 2018, construction cost needs to be <br />re-bid. <br />24