Title Here
Increasing construction costs Difficulty in Site Selection Area school competition Long entitlement and permitting periods (DSA vs Local processing) Equity availability for projects Funding Reductions, Deferrals, SB740, Labor and Union Issues Hidden Project Costs (furniture, technology, smart boards, exercise, etc.) Timing of Construction
Construction Manager Design-Bid-Build Design-Build
Contractor Architects (Building, Landscape) Civil Engineer Structural Engineer MEP Consultants Environmental Consultants Other Project Consultants (Traffic, Sound, Pollution, Political,etc.) Lender
Not designing to a realistic budget can be very expensive GMP vs. Cost Plus vs Lump Sum Contracts (pros/cons) Not including operational items in your budgets (i.e. technology, furniture, computers) Failure to account for entitlement, permitting or construction time (start early—finish early—plan ahead) Environmental Costs (What are your risks?) Move in costs
What does this mean? Why should I do this? When should I do this? How should I do this? Who can help me with this?
SAMPLE PROJECT
500 Student High School 9-12 Grade levels at move in New Market Tax Credit Financing Includes buy out of existing middle school-$4,000,000 38,000 Square Floor Building CLASSROOMS + LABS+ GYM 1500 Sq Ft of Admin space
DESCRIPTION
%age
LOAN PROCEEDS AVAILABLE
AMOUNT $6,144,666
Less Land Costs
$0
Less Title and Closing Costs
$0
Gross Proceeds Available
$6,144,667
Contingency: Hard Costs 10%
-$614,467
Contingency: Soft Costs 5%
-$307,233
Payment and Performance Bonds
Construction Manager Design-Bid-Build Design-Build
Contractor Architects (Building, Landscape) Civil Engineer Structural Engineer MEP Consultants Environmental Consultants Other Project Consultants (Traffic, Sound, Pollution, Political,etc.) Lender
Not designing to a realistic budget can be very expensive GMP vs. Cost Plus vs Lump Sum Contracts (pros/cons) Not including operational items in your budgets (i.e. technology, furniture, computers) Failure to account for entitlement, permitting or construction time (start early—finish early—plan ahead) Environmental Costs (What are your risks?) Move in costs
What does this mean? Why should I do this? When should I do this? How should I do this? Who can help me with this?
SAMPLE PROJECT
500 Student High School 9-12 Grade levels at move in New Market Tax Credit Financing Includes buy out of existing middle school-$4,000,000 38,000 Square Floor Building CLASSROOMS + LABS+ GYM 1500 Sq Ft of Admin space
DESCRIPTION
%age
LOAN PROCEEDS AVAILABLE
AMOUNT $6,144,666
Less Land Costs
$0
Less Title and Closing Costs
$0
Gross Proceeds Available
$6,144,667
Contingency: Hard Costs 10%
-$614,467
Contingency: Soft Costs 5%
-$307,233
Payment and Performance Bonds
