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38 LEXINGTON, MASSACHUSETTS
<br />are then allocated by funding sources: Debt serviced by the General Fund (GF), debt
<br />serviced by the Community Preservation Fund (CPF), and funding provided by the
<br />Massachusetts School Building Authority (MSBA).
<br />Table 3. Project and Bond Amounts Projected by Inflation [projected at 3.5% per
<br />year]
<br />BASE
<br />FISCAL
<br />PROJECT YEAR OF TOTAL ESTIMATED TOTAL ESTIMATED TOTAL ESTIMATED
<br />PROJECT
<br />COST ESTIMATE COST— FY2015 COST— FY2017 COST— FY2021
<br />Central Fire Station'
<br />$13,119,000 2013 $14,100,000
<br />Police Station'
<br />$12,131,000 2013 $12,995,000
<br />Cary Memorial
<br />$8,537,0002 2014 -16 $7,998,000
<br />Building
<br />Hosmer House
<br />$512,000 2013 $548,000
<br />Community Center/
<br />$10,186,000 2008 $12,521,000
<br />39 Marrett Road
<br />Munroe Center for
<br />$3,264,000 2015 $3,496,000
<br />the Arts
<br />Visitors Center
<br />$1,658,000 2012 $2,109,000
<br />Stone Building
<br />$1,930,000 2013 $2,140,000
<br />Maria Hastings
<br />$48,700,000 2017 $33,116,0003
<br />School
<br />High School
<br />$196,500,000 2021 $133,620,0003
<br />School Central
<br />$9,353,000 2015 $11,459,000
<br />Administration
<br />'The Committee considers that, as a first order estimate, a combined facility would cost on the order of the sum of the costs
<br />shown for each Station.
<br />'The design and engineering
<br />portion of the project has already been funded.
<br />'As the Town expects a
<br />32% reimbursement by the MSBA, the net project costs are shown in this table instead opf the
<br />projected total project costs of $48,700,000 for the Maria Hastings School and $196,500,000 for the High School.
<br />Each project is given separate design and construction costs. Design costs are
<br />calculated as 6.5% of the total project budget based on Town experience and policy.
<br />The exceptions for separating costs are those projects where the total project costs are
<br />less than $2 million, which are the Hosmer House, Visitors Center and Stone House
<br />building renewal projects.
<br />38 LEXINGTON, MASSACHUSETTS
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