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Capital Improvement Plan
<br />ORIGINAL
<br />Department: Cabarrus County Schools FROM ADOPTED BUDGET
<br />Protect Title: school Construction FY 2007-08
<br />Project Description:
<br />To meet school enrollment needs, the County must continue to buy property and construct additional schools.
<br />General Obligation (GO) bonds were issued in FY 2006 for $34.4 million; and an additional $48 million issued
<br />in FY 2007 to support school construction.
<br />In FY 2008, the County will fund the construction of a new high school (1000 seats), AT Allen replacement (506
<br />seats), two elementary schools (700 seats each), and a middle school (1200 seats).
<br />In FY 2010, the County will fund one middle school (1200 seats), one elementary school (700 seats), and
<br />addition/renovation to Mt. Pleasant Middle (250 seats) and an addition to Furr Elementary (200 seats).
<br />In 2011, the County will fund construction of a high school (1500 seats), elementary (700 seats), J N Fries
<br />addition/renovation (200 seats), Beverly Hills addition (150 seats), Central Cabarrus High School
<br />addition/cafeteria replacement (175 seats) and addition/renovation to Northwest Middle School (175 seats).
<br />Type: [ x ] New [ ]Expansion [ ]Replacement Status: [X] In Progress
<br /> FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Future
<br />Project Costs Actual Proposed Plannin Planning Planning Planning Years
<br />Planning/Design
<br />Land/Acquisition
<br />COr1StrUCflOn 48,000,000 138,598,000 73,200,000 101,340,000
<br />Equipment
<br />Other
<br />Total 48,000,000 138,598,000 73,200,000 101,340,000
<br />Funding Sources
<br />General Fund
<br />Debt 48,000,000 57,000,000 73,200,000 101,340,000
<br />Grants
<br />Permits/Fees
<br />Other
<br />Total 48,000,000 57,000,000 73,200,000 101,340,000
<br />Operating Impact
<br />Total 0 3,300,000 2,000,000 z,ooo,oo0 2,000,000
<br />Operating Budget Impact: The county's contribution to annual operating expenses as a result of new
<br />school construction is projected to increase by $4 million in 2008, $3 million in 2010 and $1 million in 2011.
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