One follow up note: the CC representative who just spoke said they've spent $2m on ground improvements already. But the budget was $1.5m? Maybe he was speaking colloquially.
One follow up note: the CC representative who just spoke said they've spent $2m on ground improvements already. But the budget was $1.5m? Maybe he was speaking colloquially.
Wonder why the CC guy was apprehensive about pausing the project. Maybe it’s the millions of dollars they won’t get as a company if it doesn’t happen. Maybe. Can’t be sure.
Never consider sunk costs. But the D65 board is going to cling to sunk cost fallacy until the district is taken over. By then, we’ll have spent several more millions on a school that won’t be built.
I have to agree, this is a prime example of the sunk cost fallacy. Don’t wring hands about money already wasted- think seriously about how to best improve district academics, finances, and democratic processes. If the financial consultant is advising to pause construction, that should be on the table.
Correct. Yes, it is expensive to cancel the school but not to the tune of $48 million expensive. Soo La Kim's argument of we can spend millions to cancel a school or spend millions to have a new school is comparing apples to oranges.
Also, the board saying that the new school isn't the cause of the financial mess but yet failing to acknowledge what is. Ugh.
In what world was that 2 million of ground improvements? I mean I know this is evanston where a couple pickleball courts cost a million but come on! Curious to check the job site tomorrow.
I am not on my computer but I have an old post about the boring data. The site has really difficult saturated soil with a high water table, so they need to mitigate. Because fifth ward was a swamp until 1900 or so
I remember the “boring” story but how long have they been working at it? Hard to believe they could burn though 2 million so quickly when the whole budget for ground prep was 1.5 million or are they saying they are already over budget by 33%? Maybe?
One follow up note: the CC representative who just spoke said they've spent $2m on ground improvements already. But the budget was $1.5m? Maybe he was speaking colloquially.
https://www.foiagras.com/p/fifth-ward-school-groundbreaking
Wonder why the CC guy was apprehensive about pausing the project. Maybe it’s the millions of dollars they won’t get as a company if it doesn’t happen. Maybe. Can’t be sure.
😂😭
https://i.imgflip.com/96wy45.jpg
Never consider sunk costs. But the D65 board is going to cling to sunk cost fallacy until the district is taken over. By then, we’ll have spent several more millions on a school that won’t be built.
I have to agree, this is a prime example of the sunk cost fallacy. Don’t wring hands about money already wasted- think seriously about how to best improve district academics, finances, and democratic processes. If the financial consultant is advising to pause construction, that should be on the table.
Correct. Yes, it is expensive to cancel the school but not to the tune of $48 million expensive. Soo La Kim's argument of we can spend millions to cancel a school or spend millions to have a new school is comparing apples to oranges.
Also, the board saying that the new school isn't the cause of the financial mess but yet failing to acknowledge what is. Ugh.
I think that's a very fair criticism and I got the sense that is the next step, asking "if not Foster School, where is money going to come from"
I do worry they're going to put so many constraints on the cuts that this consultant can come up with that it will make the job basically impossible.
✔️ keep foster school
✔️ dont cut individual line items related to a,b,or c
✔️dont close schools x,y, or z
✔️ dont lay off staff
Shady
Something to FOIA tomorrow..
In what world was that 2 million of ground improvements? I mean I know this is evanston where a couple pickleball courts cost a million but come on! Curious to check the job site tomorrow.
I am not on my computer but I have an old post about the boring data. The site has really difficult saturated soil with a high water table, so they need to mitigate. Because fifth ward was a swamp until 1900 or so
I remember the “boring” story but how long have they been working at it? Hard to believe they could burn though 2 million so quickly when the whole budget for ground prep was 1.5 million or are they saying they are already over budget by 33%? Maybe?
Thats what I am gonna FOIA tmrw :)
Does this then mean $500k they have to pull out of contingency budget? Is there even enough for that or does this push up a new number for total cost?
Unclear. I just FOIA'ed the records that have those numbers. If they're already over budget, that's a big problem.