1. HAVE THE NPD117 BOUNDARIES CHANGED?
No, the boundaries have remained the same since the district was created.
2. HOW MUCH WILL A NEW CONRADY SCHOOL COST INDIVIDUAL HOMEOWNERS?
The cost to homeowners for a new building is projected to be about $83 for every $100,000 their home is worth.
3. WHY IS THE DISTRICT’S ENROLLMENT INCREASING?
The district has seen a steady enrollment increase. Our district boundaries have not changed, and therefore we can conclude that more families with school-aged children have been moving into our community.
4. WOULD STUDENTS BE DISPLACED DURING CONSTRUCTION?
No. Students would not be displaced from the Conrady campus during construction.
5. WHEN WOULD THE CONSTRUCTION BE COMPLETED?
Construction would be completed by the Fall of 2015.
6. WHAT IS THE CONSTRUCTION TIMELINE?
Construction would begin in the Spring of 2014 and end in the Fall of 2015. The construction project is expected to take about 18 months.
If approved in the April 9 referendum, residents would see an increase in taxes paid to the district for 20 years to cover the cost of the building bonds needed to build a new school. Once the 20 years have passed, the amount of money residents had been paying to the district for the bonds would stop.8. WHAT IS THE DISTRICT'S ANNUAL PER PUPIL OPERATING EXPENSE?District 117 spends $10,790 per pupil, which is $2,700 less than Cook County's average annual per pupil expenditure of $13,490.9. ARE THE CONSTRUCTION COST ESTIMATES ACCURATE?10. ARE THE PROJECT CONTINGENCIES APPROPRIATE?
Ø The design and construction team agreed that a 5.0% overall project contingency is appropriate based on the depth and quality of the historical cost data used to develop the cost estimate(s).
Ø The $190.00/sf direct building unit cost (See Line Item 5) further includes a 10.0% contingency factor.11. IS THERE A "TYPICAL" SQUARE FOOTAGE COST FOR NEW JUNIOR HIGHS?12. WHAT IS INCLUDED IN THE TOTAL CONSTRUCTION COST ESTIMATE?
Ø The total construction cost estimate includes: Bricksand Mortar + Site Improvements + Construction Manager’s Site and Office Staff,Overhead, General Requirements, Insurance, Bonds, and Associated Fees.
Ø The Conrady conceptual cost estimate reflects a total estimated construction cost of $244.59/sf per line item 21.
Ø Line item 5 – $190.00/sf includes direct building costs only and is based on historical cost data. The $190.00/sf figure does not include site costs or contractor’s management, bond, insurance, or fees.
Ø Furniture is included in the estimate as a soft cost budget item and is included in line item 39.
Comprehensive cost data can be found on the 20 Year Capital Improvements spreadsheet breakdown posted on the Conrady website.13. WHY CAN'T NORTH PALOS SCHOOL DISTRICT 117 SPEND ITS ENTIRE FUND BALANCES ON BUILDING A NEW SCHOOL?Just as you do in your personal financial planning, School District 117 faces uncertainties related to future revenues and expenditures. There are many factors that contribute to the health of a school district's financial profile. Unfunded mandates, reductions in state/federal revenue, student enrollment and building maintenance are just some of the factors that can quickly and adversely impact the district's financial picture. Maintaining fund balances is the key to a district dealing with unexpected costs or decreasing revenues. In the current financial climate, it is recommended that, if possible, school district's maintain a minimum of six months of operating expenditures in reserve to deal with any unforeseen financial issues. Additionally, not having fund balances would put the district at risk of having to reduce staff and eliminate programs such as band, sports and other extracurriculars such as dance,drama and choir. Honors and extended-day programs, field trips, summer school,transportation and the ability to expand the integration of technology all could be impacted. That is why the decision was made NOT to deplete the district's reserve fund.14. HOW DID DISTRICT 117 DETERMINE ITS ABILITY TO SAFELY CONTRIBUTE $10 MILLION TO THE CONSTRUCTION OF A NEW BUILDING?In working with our financial advisor, PMA Inc., we have determined that contributing $10 million of fund balance to this project is financially responsible at this time based on current school funding issues within the State of Illinois as well as other future capital expenditures such as building maintenance and school bus replacement.15. WHAT IS THE INTEREST RATE ON BONDS THAT WOULD BE SOLD TO PAY FOR THE NEW SCHOOL BUILDING?In our projections, we have used an assumption of 3.34 percent. However, we will not know the actual number until the closing of the bond sale.