2016-02-08-CEC-STM1-STM2-rpt - Laserfiche WebLink

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CAPITAL EXPENDITURES COMMITTEE REPORT TO FEBRUARY 8, 2016, STMs 2016 -1 & 2016 -2 stipulated by the MSBA for such an action. The scope of, and matters addressed in, the FS itself are also stipulated by the MSBA. The building project contemplated for the new Maria Hastings Elementary School has a preliminarily estimated total cost of about $60 million. (That is before any reimbursements by MSBA — expected to be approximately 30% of total project costs.) Starting from scratch, a FS for a project of that size and complexity might reasonably be expected to cost about 2.5% of the total construction contract (estimated at about $47 million). The resulting estimated $1.175 million, plus a $0.325 million contingency, is the basis of this request. A good portion of the information needed in the standard MSBA FS is already in hand; therefore, it is expected that the funding being requested will be sufficient for gathering and formatting any remaining information that is needed for the MSBA FS and also provide flexibility for the still- evolving project requirements and schedule. Although the MSBA has the 270 -day limit for the School District to complete all the work required by the MSBA during the Eligibility Period, the Town would become eligible to receive an invitation from the MSBA Board of Directors to the Feasibility Study phase as soon as all that work had been completed. This Committee considers the creation of a new Hastings Elementary School a vital element in a larger plan for expanding the School District's capacity to provide relief for current enrollment and adequate space for the projected, significant, increase in enrollment. The replacement of the Hastings School, with MSBA participation, will move us toward needed capacity for projected enrollment in the fall of 2019. However, as this Committee has stated previously (see the discussion in its December 4, 2015, Report to the November 2, 2015, STM #1, for Article 2), overcrowding is likely to continue at the Pre -K and elementary levels. The Committee unanimously supports the requested appropriation, and expects that the resulting design will address capacity needs in a manner both economically efficient and appropriate for our educational program. STM 2016 -1, Article 4: ESTABLISH, RENAME AND APPROPRIATE TO AND FROM SPECIFIED STABILIZATION FUNDS (SFs) Fund Authorization Requested Funding Source Committee Recommends Traffic Mitigation SF Deposit $39,644.50 Traffic Mitigation Special Revenue Account Approval (5 -0) "To see if the Town will vote to create, rename or appropriate sums of money to and from Stabilization Funds in accordance with Section 5B of Chapter 40 of the Massachusetts General Laws for the purposes of: (a) Section 135 Zoning By -Law, (b) Traffic Mitigation, (c) Transportation Demand Management/Public Transportation, (d) School Bus Transportation, (e) Special Education, (f) Center Improvement District; (g) Debt Service, (h) Transportation Management Overlay District , (i) Avalon Bay School Enrollment Mitigation Fund, and (j) Capital; and determine whether the money shall be provided by the tax levy, by transfer from available funds, or by any combination of these methods; or act in any other manner in relation thereto." "DESCRIPTION: This article proposes to establish, rename or fund Stabilization Funds for specific purposes and to appropriate funds therefrom. Money in those funds may be invested and the interest may then become a part of the particular fund. These funds may later be appropriated for the specific designated purpose, by a two- thirds vote of an Annual or Special Town Meeting, for any lawful purpose." [Town Warrant for 2016 -1] Note: All of the Town's Specified Stabilization Funds are in addition to the Town's General Stabilization Fund. See the Appendix for a table with information on all the current Specified Stabilization Funds. 3