2017-10-16-CEC-STM2-STM3-rpt - Laserfiche WebLink

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CAPITAL EXPENDITURES COMMITTEE REPORT TO OCTOBER 16,2017, STMs 2017-2&-3 3900 ...,. 3700 ..... • 3 500 ..... owwM^mmmomu P«▪ 3300 o 00, w 3100 �� MINN — — 1 ��U� --u��u Median p oje. z• 2900 ....,. ....,. .""'�" mom mom Lowp[1.0 ectinn Right-Sized capacIty. 2700 2500 le rieQ> "Qi The elementary-school population projections are shown in the dashed lines. The total capacity is shown in the solid black, line. The increase in capacity in 2019-2020 requires that the new LCP be built. The increase in 2020-2021 requires that the new Maria Hastings be built at the currently envisioned 30- classroom size. Even with these measures, the school enrollments are expected to remain above capacity for the foreseeable future. Article 2:APPROPRIATE Fund FOR HASTINGS Authorization Funding Source Committee Recommends SCHOOL Requested CONSTRUCTION $63,059,418 GF (Debt) Approval (7-0) (Expected to be included in a subsequent Debt- Exclusion Referendum) "To see if the Town will vote to appropriate, borrow or transfer from available funds, a sum of money, to be expended under the direction of the Permanent Building Committee, for the costs to demolish the existing Maria Hastings Elementary School and construct, originally equip and furnish a new Maria Hastings Elementary School to be located at 7 Crosby Road, in Lexington, which school facility shall have an anticipated useful life as an educational facility for the instruction of school children of at least 50 years and for which the Town may be eligible for a school construction grant from the Massachusetts School Building Authority ("MSBA"). The MSBA's grant program is a non- entitlement, discretionary program based on need, as determined by the MSBA, and any costs the Town incurs in connection with the Construction phase in excess of any grant approved by and received from the MSBA shall be the sole responsibility of the Town. Any grant that the Town may receive from the MSBA for the Project shall not exceed the lesser of (1) 35.79 percent (%) of eligible, approved project costs, as determined by the MSBA, or (2) the total maximum grant amount determined by the MSBA; or act in any other manner in relation thereto." "DESCRIPTION: This funding will authorize additional funds to demolish the existing Hastings School and construct the new Hastings School, which will be partially reimbursed from the Massachusetts School Building Authority(MSBA)." 3