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<br /> NORTHERN CAMPUS PROJECT OPTIONS
<br /> Current Estimated Costs
<br /> and Option 1 Option 2 Option 3 Option 4
<br /> Estimated Project Costs — $ 41,155,486
<br /> January 2019 $ 28,095,831) $ 41,155,486 $ 41,155,486 $ 41,155,486
<br /> Appropriated Budget $ (28,095,831) $ (28,095,831) $ (28,095,831)
<br /> DIFFERENCE $ (13,059,655) $ (13,059,655) $ (13,059,655) $ (13,059,655)
<br /> Cost Reduction Strategies
<br /> Repurpose Funds from Prior Jail
<br /> Project $ 719,700 $ 719,700 $ 719,700 $ 719,700
<br /> Value Engineering $ 875,000 $ 875,000 $ 875,000 $ 875,000
<br /> Strategies Project Scope $ 438,000 $ 438,000 $ 438,000 $ -
<br /> Reductions Other CIP
<br /> Deferments Postpone EAC $ 2,655,500 $ 2,655,500 $ 2,655,500 $ 2,655,500
<br /> and Parks Ops.
<br /> Construction $ 7,751,375 $ 7,751,375 $ - $ -
<br /> Reduce Detention Center $ 2,647,020 $ - $ - $Capacity
<br /> TOTAL COST REDUCTION
<br /> STRATEGIES $ 14,366,895 $ 11,719,875 $ 3,968,500 $ 3,530,500
<br /> DIFFERENCE $ 2,026,940.00 $ $ $ (8,809,455.00)
<br /> Option 1 would fund a smaller Detention Center only. It employs a sufficient
<br /> number of reduction strategies to create a positive project balance of
<br /> approximately $2 million.
<br /> Option 2 funds a 144 bed Detention Center but defers construction of the
<br /> Environment and Agricultural Center and Parks Operations. This option would
<br /> require an additional $620,000 in budget authorization.
<br /> Option 3 completes all of the components of the project but eliminates
<br /> project scope requested by the stakeholders. This option would require
<br /> approximately $8.37 million in additional budget authorization.
<br /> Option 4 completes all of the project components and funds the full
<br /> project scope as requested by the project stakeholders. Option 4 would
<br /> require an additional $8.8 million in authorized funds.
<br /> Northern Campus Options and Five Year Debt to General Fund Revenue Policy- graph
<br /> The Board of County Commissioners has established a debt to general fund revenue policy of
<br /> fifteen percent (15%). Given the amount of debt that the County has issued and plans to issue
<br /> in the approved Capital Investment Plan, that target is exceeded in FY2022, 2023, and 2024.
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