It's my understanding that the TIF only covers the outdoor track, in full. D65 will be paying for half of the cost of the outdoor lights, which are estimated at $50,000 - $70,000 total. So another $25,000 - $35,000 was tacked on to the Foster School costs. However, in his memo Kirby Callam writes, "This addition will not increase the overall budget of the Foster School project. We plan to allocate contingency funds for this purpose, which we are increasing through value engineering changes currently in development and scheduled for presentation to the Board in September."
Oh boy, even more value engineering. This building is going to be made of so much cheap crap I'll be surprised if it doesn't need major renovations in 10 years.
This is correct - the Five Fifth's TIF (which D65 initially opposed vehemently!) is actually paying for it.
It's my understanding that the TIF only covers the outdoor track, in full. D65 will be paying for half of the cost of the outdoor lights, which are estimated at $50,000 - $70,000 total. So another $25,000 - $35,000 was tacked on to the Foster School costs. However, in his memo Kirby Callam writes, "This addition will not increase the overall budget of the Foster School project. We plan to allocate contingency funds for this purpose, which we are increasing through value engineering changes currently in development and scheduled for presentation to the Board in September."
Memo: https://meetings.boardbook.org/Public/Agenda/1247?meeting=648193
Thank you for this, I didnt realize this!!
Oh boy, even more value engineering. This building is going to be made of so much cheap crap I'll be surprised if it doesn't need major renovations in 10 years.