Agenda - 05-03-2005-9e - Laserfiche WebLink

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UPDATED 04/29/05 QUESTIONS/OBSERVATIONS C~ CHCCS HIGH SCHOOL #3 BUDGET SHORTFALL September 2004 documents produced by the architects anticipated a budget shortFall of approximately $4.5 million, When did the architects last provide a formal update to CHCCS on likely bids, and what financial impacts did that update anticipate? • What is the explanation offered by the architects far why the bid results were so far off from their September estimation of likely project costs ($39.2 million now vs. $35..4 million then)? In light of the tight construction market and anticipated project budget overruns, did the architects and CHCCS consider and bid alternates? If so, what were they? If not, why not? Would the addition of a value engineering component be helpful? Will CHCCS consider revising the design of the project, or rebidding the project within a time frame that might still allow an August 2007 opening? Will CHCCS consider delaying the opening until August 2008 (or later) and rebid the current (ar revised) design in 6-9 months (or some other appropriate timeframe)? • What is the likely timeline for Carrboro development review process decisions, and how are those likely to impact the current planned opening of August 2007? Does the BOCC want to consider as a starting point the Manager's recommendation of several weeks ago that $3.8 million of the $12.8 million in alternative financing currently programmed for CHCCS Elementary #10 be reallocated to High School #3? What changes (if any) would be needed to the interlocal agreement if the BOCC decides to provide some level of additional funding for this project? If opening High School #3 in August 2007 is a priority, will CHCCS redirect some portion of expected pay-as-you-go revenue over the next several years to help offset the additional project cost? • Will CHCCS be considering temporary ways of addressing CHCCS high school overcrowding, such as additional mobile units, rental of temporary space, or other measures? CHCCS expended accumulated impact fees (with plans to "reimburse" the project budget later through designation of a portion of CHCCS's future pay-as-you-go funds) to provide cash for the additional $1,142 million cost of the Glover property, This approach adhered to the provision of the interlocal agreement that precludes Orange County from incurring additional debt if the project budget increases. That seems to be a different set of circumstances than reallocating a portion of the $12.8 million far Elementary #10, which DOES involve incurring more debt for THIS project (although not more debt than Orange County was already planning to issue in the near term). What are the likely impacts of ongoing discussion between Town of Carrboro and DOT regarding Smith Level Road improvements on the HS#3 project budget and timeline?