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14 <br /> 1 Travis Myren reminded the Board that they approved the current budget for the project in <br /> 2 March of 2021. He noted that the GMP has exceeded the allocated budget, so the Board would <br /> 3 need to approve an increased budget to move forward with the current plan for the project. <br /> 4 <br /> 5 Slide #4 <br /> Debt Metrics <br /> t Aadlilonal Principle and Intereest Payments •$8.2 milion over 24 year term <br /> Debt Service to General FLmet Re rluee Policy <br /> Teal cuffP!ItaUxV AN&I'Ar"111 ll 6JIIill5dB ? <br /> 21�:K 15.1746 15.'2�1i 'i;7-- <br /> 2(924 15.Q916 1.5.28% rv;�•_ <br /> 20L,5 la!r:q _. nL': 0..91.. <br /> 21125 <br /> Tax Rate Equivalent Analysis <br /> Yew 01fW D10W Awl')S-9 a 111jWe. Orw4wiff! <br /> -1:223 4.1260 43 ref <br /> 2+124 0.354 0 504 0.154 <br /> 2+l1_5 p.tlp! 6.UCM +J.U4! <br /> 2m29 b.CUi {l i1H:;a J LVji <br /> '027 ea. iti t4s V14 <br /> ORANGE COUNTY <br /> NOR'T]f CkRGL[NA <br /> 6 <br /> 7 <br /> 8 Slide #5 <br /> Scope Reduction <br /> • Option 1 - Delete the grange County Skills Development Center <br /> from the project with minimal redesign <br /> — Tnlle FQr redesign iz seven(7)1Y*ntt«4 ti;permitting and tbiddifng <br /> Redmtgn coot approximately S605.OM in architactura9 fees <br /> Option Z Delete the Orange County Skills Development Center <br /> from the project with a more comprehensive redesign <br /> — Opportunity to utilize=a fare-cast parking deck <br /> Tim* for redesign sevente&n (17)months to permitting and bidding <br /> Redesign woudd costapproximateiy $1.5n,000- <br /> Removes 12,600 square feet of program space and 45 parking <br /> spaces <br /> • The Construction Manager estimates aeon struotion oast savings of <br /> approximately$3.765.000 <br /> ORANGE COUNTY <br /> NOR-n I CAROLINA <br /> 9 <br />