Danger! Extreme Conditions!
description
Transcript of Danger! Extreme Conditions!
1
2
3
4
Danger! Extreme Conditions!
5
6
What’s Possible…
7
8
Average Age of City School Buildings= 53 Years
23% built before 1946
74% built between 1946 and 1985
3% built since 1985
9
163 schools 85% in POOR condition 50 schools unsalvageable Educational Adequacy = F $2.4 Billion Need
School Buildings Get Failing Grade
10
$60 Million per Year Availablevs.
$2.4 Billion Needed
Current System = Band Aid Approach!
11
Buildings Get Worse Costs Go Up
Year 0 Year 1 Year 2 Year 3 Year 4$1,000
$1,400
$1,800
$2,200
$2,600
$3,000
Scho
ol C
onst
ruct
ion
Nee
d in
Mill
ions
12
Greenville, SC$1 billion up front by leveraging existing funding streams
Rebuilt all 70 of its schools in 6 years
It’s Been Done Before!
13
Predictable 30 year funding stream
$
$
$$
State Funds
BCPS Funds
City Funds
Step 1: Predictable Funding
14
Financing Entity
$1 Billion for School Construction
Now!
Predictable 30 year funding
stream
Step 2: Leverage the Funding
15
80 New or Fully Renovated Schools!
$1 Billion in School Construction
Step 3: Rebuild City Schools
16
80 new or renovated
schools
vs.
Current System
A handful of new roofs, boilers, and
windows
$1 Billion in Capital Funding
New Schools or “Band Aids”
17
Buildings Get BetterTotal Cost Shrinks
Year 0 Year 1 Year 2 Year 3 Year 4$1,000
$1,400
$1,800
$2,200
$2,600
$3,000
Total Remaining School Construction Need with Project by ProjectTotal Remaining School Construction Need with Block Grant
Scho
ol C
onst
ruct
ion
Nee
d in
Mill
ions
18
Great Buildings for Kids NOW!
Economies of Scale!Jobs, Jobs, Jobs!Low Interest Rates
Benefits of Building Now
19
State and City leaders
embrace this new
financing approach
Current Funding Streams Leverage $1 Billion IF:
20
Build Schools. Build Neighborhoods.www.transformbaltimore.org