Agenda - 03-25-2002 - 1 - Laserfiche WebLink

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2002/03 *Acquisition of High School Site 2003/04 *Elementary School#9 Opens.at Meadowmont *Mobile Classrooms added at ECHHS 2004/05 2005/06 *High School #3 Opens on New Site with Capacity of 500 2006/07 *Elementary School#10 Opens on Old 86 Site *BOND Referendum scheduled to include: -Another High School (possible conversion of Lincoln Center) -5th Middle School 2007/08 2008/09 *New Central Office Opens on Property across from CHHS 2009/10 *High School#4 Opens with Capacity of 500 ( possible conversion of Lincoln Center) built with 2006 Bond Funds *5th Middle School Opens on Old 86 Site built with 2006 Bond Funds County Funding Plan County revenue projections for the next ten years include revised sales tax and impact fee receipts. Sales tax receipts have been modestly reduced as a result of economic conditions and state projections. Impact fees have been increased substantially to reflect current activity and fee increases. The budgeted impact fees are a straight projection based on last year's Tischler&Associates, Inc. report. The county budget office will adjust impact fee revenue projections as future development is confirmed. Additionally, a $6.2 Million Impact Fee balance exists. This balance results from impact fees accumulating at a rate greater than projections over the past few years. These funds have been included in the 2002-12 CIP. The County has also identified a financing plan that produces $11.1 Million in alternative funding for the district. The funding plan, not yet approved, was presented at the December 11, 2001 County Commissioners meeting. It is part of a major financing plan that includes the 2001 bond obligations. The proposed county financing plan is spread over a period of several years to soften the impact of higher tax rates needed to help pay for the debt. The district's $11.1 million in alternative financing is available in years 2004/05, 2007/08 and 2008/09 and is included in the 2002-12 CIP. Although we recognize that this plan has not been adopted, we used it as a starting point in preparing this CIP. The School Board may elect to request different amounts of funding under a different timeline.