HomeMy WebLinkAboutC.054.93011_1473How to Pay for it?
• Four year budget
*Four year budget
Purchase of Dana facility
Debt retirement for elementary school (county
$ 6.0
Capital outlay/fund balance (ISS/county)
$11.4
More efficient central office operation (ISS)
$ 2.0
Property sales (ISS)
$5.0
Revenue from leased space (ISS)
$.64
Total 4 -year revenue projections
$25.04 million
How to Pay for it?
• Four year budget
Purchase of Dana facility
$9.75
Undesignated balance from FY 06 capital
$1.2
Undesignated balance from FY 07 capital
$2.9
Undesignated balance from FY 08 capital
$3.7
Deposit
$.25
ISS fund balance
$1.7
1" Phase elementary school debt retirement
$6.0
Total 4 -year costs
$15.75 million
How to Pay for it?
e Additional Potential Revenue
Statewide bond referendum $7.0
Local option %z cent sales tax $7.0
Tax rebates $.4
Total Potential Yearly Revenue $14.4 million
Additional
No property tax increase required
No interference with timelines for other planned construction projects
Comments and Concerns Expressed by the Commissioners
Commissioner Robertson asked about the Department of Transportation (DOT) "design
work," and he said just because this was scheduled, it didn't necessarily mean funding had been
appropriated. Robertson also asked what happened, if after purchasing the property, people
started having medical problems and the blame was placed on the environmental issues.
Dr. Miller said the Terracom Company could not give a guarantee on the environmental
safety issue.
Dr. Holliday said the school system wanted the Department of Environment and Natural
Resources involved because of the "What if?" scenario.
Commissioner Williams asked if the soil contaminants were indoors or outdoors, and he
was told both areas. He questioned why a facility in the Mooresville area wasn't being
addressed first, since the growth was primarily there.
Dr. Holliday said a new superintendent would soon be with the Mooresville Graded
System, and discussions on a regional high school had been curtailed for this reason. He said
growth was occurring in all areas of the county.
Commissioner Tice said Lake Norman High had been built for $24 million compared to
the extensive remodeling project at Statesville High costing over $30 million (Phase I @ $19
million & Phase II @ $13 million). She said now, the system was proposing a new school in