ELIZABETHTOWN AREA SCHOOL DISTICT

ELIZABETHTOWN AREA SCHOOL DISTICT

PUBLIC HEARING On the proposed

Renovations and Additions to the

BAINBRIDGE ELEMENTARY

SCHOOL

To be held at the Bainbridge Elementary School

Located at 416 North 2nd Street

Bainbridge, PA 17502 on

Tuesday, December 13, 2016

6:30 pm

Elizabethtown Area School District

ACT 34 PUBLIC HEARING

Renovations and Additions to the Bainbridge Elementary School

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TABLE OF CONTENTS Page

Number

1. AGENDA 3

2. INTRODUCTION 4

3. PROJECT NEED 5-6

4. SUMMARY OF DISTRICT OWNED BUILDINGS AND LAND (A-09) 7

5. OPTIONS CONSIDERED 8

6. PROJECT DESCRIPTION 9-10

7. SITE PLAN 11

8. PROJECT ACCOUNTING BASED ON ESTIMATES 12-13 (PLANCON D-02 and 03)

9. OTHER DETAILED COSTS 14 (PLANCON D-04)

10. ESTIMATED MAXIMUM REIMBURSABLE PROJECT AMOUNT 15-16 (PLANCON D-08 and D-09)

11. ACT 34 MAXIMUM BUILDING CONSTRUCTION COST 17 (PLANCON D-20)

12. ANALYSIS OF FINANCING ALTERNATIVES 18

13. COMPARISON OF LONG TERM FINANCING METHODS 19-22

14. BOARD RESOLUTION OF MAXIMUM BUILDING 23

CONSTRUCTION COST AND MAXIMUM PROJECT COST

15. PUBLIC HEARING NOTICE 24




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AGENDA

1. CALL TO ORDER / INTRODUCTION Terry L. Seiders

Board President

2. HEARING, DULY CONSTITUTED Howard Kelin

By Solicitor: Kegel Kelin Almy & Lord

3. PURPOSE OF THE MEETING Dr. Michele Balliet

(Need for the Project) Superintendent of Schools

4. PROJECT DESCRIPTION John A. Beddia, AIA, LEED AP

By Crabtree, Rohrbaugh & Associates Principal

Grace Heiland, AIA, LEED AP

Project Manager

5. FINANCIAL ANALYSIS Brad Remig

By PFM Financial Advisor

6. PUBLIC COMMENT Question and Answer Period

A. Pre-registered speakers / comments B. Please raise hand, stand, and state name, address C. One question at a time - five minute limitation per speaker

7. ADJOURNMENT




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INTRODUCTION The Board of School Directors of the Elizabethtown Area School District, Elizabethtown, Pennsylvania is providing this opportunity to inform the public as to the School Board’s consideration of a project to renovate and construct additions to the Bainbridge Elementary School, located in Bainbridge, Pennsylvania. The project is in response to a district-wide review of physical facility and academic program needs for the elementary school population. This public hearing is being held in accordance with Act 34 of 1973 of the Commonwealth of Pennsylvania. The purpose is to have the District Administration, Architect and Financial Advisors present a proposal for the building wide renovation and new construction. The specific purposes for this hearing are as follows:

1. Establish the need for the project by reviewing events leading to the Board’s consideration to renovate and construct additions.

2. Review the various options considered by the Board prior to the decision to proceed with the current project proposal.

3. Describe the construction elements proposed to meet the educational program that serves as the basis for the project under consideration.

4. Present the estimated construction cost, the total project cost, indirect costs and the financial needs and estimate of the local tax impact of the project.

5. Provide citizens and residents an opportunity to offer comments and written testimony concerning the project.

Please feel free to participate during the comment period at the latter part of the presentation. An official transcript of the hearing is being recorded in order for the Board to consider and study your constructive comments, insights and observations.




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PROJECT NEED The existing Bainbridge Elementary School is located in Bainbridge, Conoy Township, PA south of Elizabethtown in a residential/rural area. The School is bordered by residential property to the north, North 2nd Street to the east, Walnut Street to the south, and a rail line to the west, which is immediately adjacent to Conoy Canal Park and the Susquehanna River. Presently, the bus drop-off, visitor access and service entrance are located on the east side of the building, off of North 2nd Street. The intersection of vehicular and bus traffic as well as service vehicles is of concern to the District. Due to this mingling of traffic on the site, a safety hazard exists that needs to be addressed. The Bainbridge Elementary School was originally constructed in 1934 as a high school. The facility underwent upgrades/renovations in 1958, 1961, 1963, 1991 and 1998. The last significant renovation in 1991 added six (6) classrooms to the building footprint. The school is a one story building with exterior brick veneer. The original building structural system is wood and masonry, with subsequent additions constructed of loadbearing masonry and a combination of steel joists and wood trusses. The educational capacity of the facility is adequate for current and foreseeable population trends based on recent studies. With the proposed renovations and additions, the School District will address physical plant deficiencies existing in the current elementary school building including heating, ventilation/air quality and cooling, electrical and plumbing systems, energy efficiency, technology and equipment, ADA accessibility and building life safety code issues. The exterior envelope is in need of improvement, including window and door systems that are not thermally efficient, and the exterior insulation and finish system (EIFS) that is at the end of its life. Interior finishes are dated and beyond their life expectancy. While the staff has maintained the building well, it has been 25 years since the last major renovation project. The engineering systems (mechanical, plumbing and electrical), many of which are past their life expectancy, are in need of repair and replacement. Existing building system deficiencies include the following: electrical capacity, energy efficiency, lighting, security, emergency lighting, fire alarm, fire suppression, communications, heating, ventilation, air conditioning, plumbing and accessibility. With new technologies and an evolving curriculum, the existing Bainbridge Elementary School building is not spatially or educationally adequate to serve the programs of a 21st Century elementary education. In particular, the District noted the lack of shared, collaborative space for project-based learning; and the lack of flexibility in the existing educational spaces. State financial reimbursement criteria are an important consideration when defining the scope of building improvements. The Pennsylvania Department of Education (PDE) encourages all schools wishing to implement a building improvement project to bring the entire building up to prevailing educational and reasonably current construction standards and code compliance as a condition of reimbursement. PDE recognizes that every 20 year period a building facility should be brought up to the above noted standards; which is why measures for reimbursement are set in place at that time to help with the financial burden. The existing Bainbridge Elementary School was last renovated in 1991, beyond PDE’s 20 year recommendation for building improvements. It is imperative that the building project plan for all building improvements, because no additional capital improvement reimbursement from PDE will be available to this building for the next twenty year period after this construction project.




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PROJECT NEED (CONTINUED)

Crabtree, Rohrbaugh & Associates (CRA) met with District administration, instructional staff, and the Board on numerous occasions to review current conditions and program requirements. CRA then developed several preliminary options for consideration. The District chose Option 3 as the option that best satisfied the program and met the educational requirements.




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8

OPTIONS CONSIDERED

CRA and the District administration and instructional staff met extensively to determine the programmatic needs and adjacencies critical to supporting the School’s educational goals. The following principles were established to guide the design process:

Program will infuse technology to enhance 21st century learning.

School will be a connection point with the community.

Spaces and furnishings must be flexible and adaptable.

Support project-based learning, encourage creativity and critical thinking incorporating the arts.

Encourage collaboration and promote cross-curricular learning.

Support vertical (trans grade level) learning. Three (3) options representing different levels of renovation were developed to respond to these principles. These options are as follows:

Option One Complete renovation and upgrades to the existing facility.

Small classroom addition improves circulation by connecting two main corridors.

New gymnasium addition (alternate bid).

Classrooms are reassigned into “pod” learning communities, but organization is limited due to the existing building structure and multiple floor levels.

Option Two Complete renovation and upgrades to the existing facility.

Small classroom addition improves circulation by connecting two main corridors.

New gymnasium addition (alternate bid).

Extensive renovation and additions to the multi-level classroom wing to the south improves organization of the classroom pods, but does not fully satisfy the District’s educational goals.

Option Three Demolish the multi-level classroom wing to the south and replace it by constructing

two new classroom pod additions along the back of the building.

New cafeteria, kitchen and mechanical room addition along Walnut Street. (Existing multipurpose room becomes gymnasium.)

Complete renovation and upgrades to the existing-to-remain portions of the facility. Option Three was selected as the solution which fully addressed all of the District’s educational goals and principles, and provided the flexibility to continue to serve the Bainbridge community far into the future.




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PROJECT DESCRIPTION Summary of Site:

Location: 416 N 2nd Street, Bainbridge, PA 17502

Site Size: 5.489 acres

Current Site Usage: Public Use (School)

Wetlands: None identified

Available Utilities: Electricity, Public Sewer, Public Water

Proposed Community Use Areas: Parking, fenced outdoor play areas, Gymnasium

Parking Count: 46 existing spaces, 46 proposed

Safety Measures: Separate bus drop-off for increased safety. Separate vehicular drop-off / pick-up area. Separate loading dock and receiving area. New play equipment and new synthetic surfaces installed under play equipment.

Summary of Proposed Building: Program: Renovations and Additions to Existing Facility K-3 Facility with 300 Student Capacity One Story Masonry Structure with a Combination of Steel Joists and Wood Trusses

Total Square Footage: Renovated – 24,140 sf; New – 19,890 sf Final Completed Building – 44,030 sf

Program Spaces include: General Classrooms, Special Education Classrooms, Art Room, Music Classroom, CUBS Classroom, Life Cycle Lab, Small Group Instruction, Media and Maker Space, Collaborative Learning Areas, Gymnasium, Administrative Offices, Cafeteria, Kitchen. (All spaces meet PA Department of Education guidelines.)

Building Systems: Lighting and Lighting Control System, Power, Plumbing, Fire Suppression System, Fire Protection Alarm, Emergency Lighting, Integrated Communications & Clock System, Security System.

Building Codes: The building will be designed under the following codes: International Building Code (IBC) – 2009, 2015 Chapter 11 – ANSI/2009

International Existing Building Code (IEBC) – 2009 Chapter 3 ICC/ANSI A117.1 – 2009 & 2010 ADA Standards NFPA 13

Concurrent Work: HVAC work and limited plumbing scope items will be performed concurrently by the District’s ESCO partner, McClure Company. This work will include a new 4-pipe direct outdoor air HVAC system, domestic water heater, and underground propane tank farm, and is excluded from the PlanCon project scope. This work is estimated at $1,856,240, bringing the total estimated project cost (PlanCon project + ESCO) to $11,121,134.




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PROJECT DESCRIPTION (CONTINUED)

The proposed renovations and additions will modernize the existing Bainbridge Elementary School to continue to support programs in grades K-3 for future generations. The Project is sensitive to the historic nature of the School and its significance within the Community of Bainbridge. Effort shall be undertaken to preserve the School’s historic nature while at the same time modernizing the facility to meet the District’s academic needs. The proposed site work will include a separation between bus, vehicular, and service vehicle traffic; and will increase safety for students, staff and visitors. The parking area and parent drop-off at the front of the building will be expanded to allow for an increase in queuing distance. The proposed renovations will also allow for the relocation of the service area currently located in the front of the school to a new service area accessed from Walnut Street. The new service area will consolidate areas associated with deliveries, dumpsters, and mechanical equipment. Stormwater management will be controlled by installing an underground stormwater system on the south west side of the property. New, energy efficient LED site lighting will improve safety and security while reducing light pollution beyond the boundaries of the property. The Project will improve overall building organization and circulation, and will address the academic need for flexible learning spaces to support 21st century learning. Renovations to the front entrance and vestibule will improve security and realign the front entrance with the corridor system. A central “Main Street” corridor will connect the core facilities with the classroom pods, thereby improving circulation and wayfinding. The Project proposes to eliminate the existing classroom wing to the south, which was added onto the original building beginning in 1963, and to replace it by constructing two new classroom pod additions along the back of the building. Each classroom pod will consist of a cluster of four classrooms and four small group rooms centered around a collaborative learning area. Operable walls and/or garage doors will allow flexibility and openness to accommodate a wide range of collaborative projects and activities. Currently, the multipurpose room functions as both a gymnasium and a student dining room. The new cafeteria, kitchen, and mechanical room addition along Walnut Street will allow these separate functions to occur simultaneously. Throughout the existing building, the electrical and plumbing systems will be upgraded and finishes will be replaced. ADA upgrades will occur, including modernization of existing toilet rooms. Exterior windows will be replaced. The existing crawl space will be ventilated, and a vapor barrier and stone added on the floor. Construction is scheduled to begin in June of 2017, and continue through August of 2018. The building will be vacated for the 2017-18 school year while construction is in progress.




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SITE PLAN

(Floor Plans Omitted Due to Security Concerns)




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ANALYSIS OF FINANCING ALTERNATIVES

We have analyzed four alternative methods of financing the proposed designing, constructing, furnishing, and equipping renovations and additions to the Bainbridge Elementary School (the "Project"). We also estimated the direct costs of financing as required by the Department of Education regulations issued November 4, 1978.

ANALYSIS OF ALTERNATIVES The four alternatives of financing that we examined are:

1. Cash or a short-term loan. 2. General obligation bond issue. 3. A local authority issue. 4. A financing through the State Public School Building Authority (SPSBA).

Analysis of the School District's financial statements for recent years, and of the financing projections prepared in connection with this Project, and discussions with the School District's Administration indicated that a financing the entire project with cash is not feasible. The School District does not have the funds necessary to pay enough cash for its share of the Project, nor does it appear that the School District would be able to raise the required amounts from its anticipated cash flow to meet the proposed construction schedule. We then analyzed in detail the three alternatives which would require the School District to incur long-term debt. For each alternative, we estimated a bond issue size and calculated the average annual debt service requirements. We then constructed a repayment schedule assuming equal annual payments over 20 years at current interest rate levels for the General Obligation, Local Authority, and SPSBA Bond Issues. Financing costs for the local authority and SPSBA were slightly higher, which resulted in a larger bond issue and higher average annual payments. Bonds issued through either a local authority or the SPSBA would be classified as revenue bonds instead of general obligation bonds. Interest rates on revenue bonds are slightly higher than interest rates that would be received on general obligation bonds. This would result in higher annual debt service payments for the School District. The General Obligation alternative offers the School District the advantage of lower interest rates, more favorable refunding provisions and keeps more control with the local school board. Based on these analyses and past performance, the least costly alternative for financing the Project is the General Obligation Bond Issue.




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COMPARISON OF LONG TERM FINANCING METHODS

GENERAL LOCAL

ITEM OBLIGATION AUTHORITY* SPSBA Construction & Related Costs $8,728,506 $8,728,506 $8,728,506 Contingency & Supervision 329,300 329,300 329,300 Costs of Issuance 207,088 217,500 212,500 Total Costs 9,264,894 9,275,306 9,270,306 Less: Interest Earned 10,779 11,306 11,000 Less: Original Issue Premium 19,115 19,000 19,306 BOND ISSUE 9,235,000 9,245,000 9,240,000 Average Annual Payment at 3.50%** for 20 years $642,711 $649,122 $648,772 * A Local Authority would have annual administrative expenses, which have not been included in

these calculations. ** Local Authority and SPSBA Annual Payments are calculated assuming 3.60% as a result of higher interest costs associated with selling revenue bonds. The School District is considering other ways to reduce the debt service and local effort needed to fund the Project.

1. The School District did not need to pay bond insurance on the 2016A Bonds. The School District will consider the use of bond insurance on the 2017 Bonds. The cost of such insurance may increase the size of the Bond Issues but reduce the interest rate the School District must pay on the Bonds, and result in lower debt service.

2. The School District utilized a wrap around debt service structure on the 2016A Bonds anticipates using a wrap around debt service structure on the 2017 Bonds in order to take advantage of a drop off in old debt service which will minimize the millage impact.

3. For discussion purposes only, we have provided on Table I the amortization schedule for

Series A of 2016 in the amount of $4,585,000 and on Table II the amortization schedule for Series of 2017 in the amount of $4,650,000 which would fully fund the Project.




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COMPARISON OF LONG TERM FINANCING METHODS (CONTINUED)

STATE REIMBURSEMENT The State will reimburse the School District for a portion of the principal and interest which the School District pays each year on the bonds. The amount of the reimbursement is determined by two factors, the percentage of the Project determined by the Department of Education to be reimbursable and the School District's Market Value Aid Ratio ("MVAR"). It is estimated that the Project will be assigned $1,599,264 in reimbursement. Based on a pro-forma calculation of reimbursement for a bond issue sized for this Project, the reimbursement percentage would be 17.26%. The School District's MVAR percentage is 53.85%. When these two percentages are multiplied, the result is an "effective" reimbursable percentage of 9.29%. Therefore, for each dollar paid by the School District toward principal and interest, the state will reimburse the School District 9.29 cents for the Project.

INDIRECT COSTS

As a result of the completion of this proposed Project, it is only reasonable to assume that there will be indirect cost associated with services to be provided to accomplish long range objectives of the School District. School District officials have estimated the annual indirect costs associated with the Project to be as follows: Additional Custodial Supplies $1,200 Additional Contracted Maintenance & Repairs 12,000 Total Increase $13,200 Assuming a collected mill currently provides $1,569,078, the indirect costs will have a millage cost of 0.01 mills annually.

TOTAL MILLAGE IMPACT The total millage impact of the Project is: $4,585,000 G.O. Bonds on Table I = 0.08 mills $4,650,000 G.O. Bonds on Table II= 0.11 mills Total 0.19 mills The millage impact from the bond issue of 0.19 plus the indirect costs of 0.01 mills equals a total millage impact of 0.20 mills.




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ELIZABETHTOWN AREA SCHOOL DISTRICT

SERIES A OF 2016

TOTAL ISSUE= $4,585,000

Settled 12/1/2016

TABLE 1 Dated 12/1/2016

1 2 3 4 5 6 7 8 9 10 11 12

Proposed Proposed Existing Total

Semi-Annual Fiscal Year Less: Local Local Local Millage

Date Principal Coupon Yield Interest Debt Service Debt Service State Aid Effort Effort Effort Equivalent

42614 2,773,045.26

3/1/2017 39,926.88 39,926.88 39,926.88 (3,711.01) 36,215.87 2,624,875.60 2,661,091.47 -0.07

9/1/2017 50,000 0.900 0.900 79,853.75 129,853.75

3/1/2018 79,628.75 79,628.75 209,482.50 (19,470.37) 190,012.13 2,709,607.94 2,899,620.07 0.15

9/1/2018 45,000 1.100 1.100 79,628.75 124,628.75

3/1/2019 79,381.25 79,381.25 204,010.00 (18,961.73) 185,048.27 2,715,312.68 2,900,360.95 0.00

9/1/2019 50,000 1.350 1.350 79,381.25 129,381.25

3/1/2020 79,043.75 79,043.75 208,425.00 (19,372.08) 189,052.92 2,713,226.88 2,902,279.80

9/1/2020 40,000 1.500 1.450 79,043.75 119,043.75

3/1/2021 78,743.75 78,743.75 197,787.50 (18,383.38) 179,404.12 2,722,915.81 2,902,319.93

9/1/2021 45,000 2.000 1.600 78,743.75 123,743.75

3/1/2022 78,293.75 78,293.75 202,037.50 (18,778.40) 183,259.10 2,721,588.09 2,904,847.20

9/1/2022 40,000 2.250 2.400 78,293.75 118,293.75

3/1/2023 77,843.75 77,843.75 196,137.50 (18,230.02) 177,907.48 2,723,495.18 2,901,402.66

9/1/2023 40,000 2.250 2.400 77,843.75 117,843.75

3/1/2024 77,393.75 77,393.75 195,237.50 (18,146.37) 177,091.13 2,727,978.68 2,905,069.81

9/1/2024 5,000 2.250 2.400 77,393.75 82,393.75

3/1/2025 77,337.50 77,337.50 159,731.25 (14,846.24) 144,885.01 2,805,886.21 2,950,771.22

9/1/2025 15,000 2.250 2.400 77,337.50 92,337.50

3/1/2026 77,168.75 77,168.75 169,506.25 (15,754.78) 153,751.47 2,850,328.24 3,004,079.71

9/1/2026 5,000 2.250 2.400 77,168.75 82,168.75

3/1/2027 77,112.50 77,112.50 159,281.25 (14,804.41) 144,476.84 2,973,588.78 3,118,065.62

9/1/2027 5,000 3.000 3.090 77,112.50 82,112.50

3/1/2028 77,037.50 77,037.50 159,150.00 (14,792.21) 144,357.79 2,971,828.61 3,116,186.40

9/1/2028 5,000 3.000 3.090 77,037.50 82,037.50

3/1/2029 76,962.50 76,962.50 159,000.00 (14,778.27) 144,221.73 2,974,864.50 3,119,086.23

9/1/2029 5,000 3.000 3.090 76,962.50 81,962.50

3/1/2030 76,887.50 76,887.50 158,850.00 (14,764.33) 144,085.67 2,975,477.23 3,119,562.90

9/1/2030 5,000 3.000 3.090 76,887.50 81,887.50

3/1/2031 76,812.50 76,812.50 158,700.00 (14,750.39) 143,949.61 3,000,483.51 3,144,433.12

9/1/2031 75,000 3.000 3.090 76,812.50 151,812.50

3/1/2032 75,687.50 75,687.50 227,500.00 (21,145.01) 206,354.99 2,409,917.71 2,616,272.70

9/1/2032 160,000 3.000 3.090 75,687.50 235,687.50

3/1/2033 73,287.50 73,287.50 308,975.00 (28,717.71) 280,257.29 2,321,255.14 2,601,512.43

9/1/2033 520,000 3.000 3.090 73,287.50 593,287.50

3/1/2034 65,487.50 65,487.50 658,775.00 (61,229.91) 597,545.09 597,545.09

9/1/2034 530,000 3.000 3.090 65,487.50 595,487.50

3/1/2035 57,537.50 57,537.50 653,025.00 (60,695.47) 592,329.53 592,329.53

9/1/2035 545,000 3.500 2.850 57,537.50 602,537.50

3/1/2036 48,000.00 48,000.00 650,537.50 (60,464.27) 590,073.23 590,073.23

9/1/2036 565,000 4.000 2.630 48,000.00 613,000.00

3/1/2037 36,700.00 36,700.00 649,700.00 (60,386.43) 589,313.57 589,313.57

9/1/2037 590,000 4.000 2.750 36,700.00 626,700.00

3/1/2038 24,900.00 24,900.00 651,600.00 (60,563.03) 591,036.97 591,036.97

9/1/2038 610,000 4.000 2.750 24,900.00 634,900.00

3/1/2039 12,700.00 12,700.00 647,600.00 (60,191.25) 587,408.75 587,408.75

9/1/2039 635,000 4.000 2.750 12,700.00 647,700.00

3/1/2040 0.00 0.00 647,700.00 (60,200.54) 587,499.46 587,499.46

TOTALS 4,585,000 3,087,675.63 7,672,675.63 7,672,675.63 (713,137.60) 6,959,538.02 46,942,630.80 53,902,168.82 0.08

PE%= 17.26% Estimated

AR%= 53.85%

1 Mill= 1,569,078




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SERIES OF 2017

TOTAL ISSUE= $4,650,000

Settled 5/1/2017

TABLE 2 Dated 5/1/2017

1 2 3 4 5 6 7 8 9 10 11

Proposed Proposed Existing Total

Semi-Annual Fiscal Year Less: Local Local Local Millage

Date Principal Rate Interest Debt Service Debt Service State Aid Effort Effort Effort Equivalent

42795

9/1/2017 62,655.50 62,655.50

3/1/2018 93,983.25 93,983.25 156,638.75 (14,558.80) 142,079.95 2,899,620.07 3,041,700.01 0.09

9/1/2018 5,000 2.210 93,983.25 98,983.25

3/1/2019 93,928.00 93,928.00 192,911.25 (17,930.16) 174,981.09 2,900,360.95 3,075,342.05 0.02

9/1/2019 5,000 2.370 93,928.00 98,928.00

3/1/2020 93,868.75 93,868.75 192,796.75 (17,919.51) 174,877.24 2,902,279.80 3,077,157.03 0.00

9/1/2020 5,000 2.500 93,868.75 98,868.75

3/1/2021 93,806.25 93,806.25 192,675.00 (17,908.20) 174,766.80 2,902,319.93 3,077,086.73

9/1/2021 5,000 2.620 93,806.25 98,806.25

3/1/2022 93,740.75 93,740.75 192,547.00 (17,896.30) 174,650.70 2,904,847.20 3,079,497.90

9/1/2022 5,000 2.740 93,740.75 98,740.75

3/1/2023 93,672.25 93,672.25 192,413.00 (17,883.85) 174,529.15 2,901,402.66 3,075,931.81

9/1/2023 5,000 2.860 93,672.25 98,672.25

3/1/2024 93,600.75 93,600.75 192,273.00 (17,870.83) 174,402.17 2,905,069.81 3,079,471.98

9/1/2024 5,000 3.050 93,600.75 98,600.75

3/1/2025 93,524.50 93,524.50 192,125.25 (17,857.10) 174,268.15 2,950,771.22 3,125,039.37

9/1/2025 5,000 3.200 93,524.50 98,524.50

3/1/2026 93,444.50 93,444.50 191,969.00 (17,842.58) 174,126.42 3,004,079.71 3,178,206.14

9/1/2026 5,000 3.340 93,444.50 98,444.50

3/1/2027 93,361.00 93,361.00 191,805.50 (17,827.38) 173,978.12 3,118,065.62 3,292,043.74

9/1/2027 5,000 3.440 93,361.00 98,361.00

3/1/2028 93,275.00 93,275.00 191,636.00 (17,811.63) 173,824.37 3,116,186.40 3,290,010.77

9/1/2028 5,000 3.550 93,275.00 98,275.00

3/1/2029 93,186.25 93,186.25 191,461.25 (17,795.39) 173,665.86 3,119,086.23 3,292,752.10

9/1/2029 5,000 3.650 93,186.25 98,186.25

3/1/2030 93,095.00 93,095.00 191,281.25 (17,778.65) 173,502.60 3,119,562.90 3,293,065.49

9/1/2030 5,000 3.740 93,095.00 98,095.00

3/1/2031 93,001.50 93,001.50 191,096.50 (17,761.48) 173,335.02 3,144,433.12 3,317,768.14

9/1/2031 155,000 3.800 93,001.50 248,001.50

3/1/2032 90,056.50 90,056.50 338,058.00 (31,420.83) 306,637.17 2,616,272.70 2,922,909.87

9/1/2032 170,000 3.870 90,056.50 260,056.50

3/1/2033 86,767.00 86,767.00 346,823.50 (32,235.54) 314,587.96 2,601,512.43 2,916,100.39

9/1/2033 530,000 3.940 86,767.00 616,767.00

3/1/2034 76,326.00 76,326.00 693,093.00 (64,419.60) 628,673.40 597,545.09 1,226,218.49

9/1/2034 560,000 3.990 76,326.00 636,326.00

3/1/2035 65,154.00 65,154.00 701,480.00 (65,199.13) 636,280.87 592,329.53 1,228,610.40

9/1/2035 585,000 4.040 65,154.00 650,154.00

3/1/2036 53,337.00 53,337.00 703,491.00 (65,386.04) 638,104.96 590,073.23 1,228,178.19

9/1/2036 605,000 4.080 53,337.00 658,337.00

3/1/2037 40,995.00 40,995.00 699,332.00 (64,999.48) 634,332.52 589,313.57 1,223,646.09

9/1/2037 630,000 4.110 40,995.00 670,995.00

3/1/2038 28,048.50 28,048.50 699,043.50 (64,972.67) 634,070.83 591,036.97 1,225,107.80

9/1/2038 660,000 4.140 28,048.50 688,048.50

3/1/2039 14,386.50 14,386.50 702,435.00 (65,287.89) 637,147.11 587,408.75 1,224,555.86

9/1/2039 690,000 4.170 14,386.50 704,386.50

3/1/2040 0.00 0.00 704,386.50 (65,469.27) 638,917.23 587,499.46 1,226,416.69

9/1/2040 0.00 0.00

TOTALS 4,650,000 3,591,772.00 8,241,772.00 8,241,772.00 (766,032.32) 7,475,739.68 51,241,077.36 58,716,817.03 0.11

PE%= 17.26% Estimated

AR%= 53.85%

1 Mill= 1,569,078




23

MAXIMUM PROJECT COST

MAXIMUM BUILDING CONSTRUCTION COST

Be it resolved that the Board of School Directors of ELIZABETHTOWN AREA SCHOOL

DISTRICT approves the maximum building construction cost and maximum project cost

listed below for the proposed Renovations and Additions to Bainbridge Elementary

School.

Be it further resolved that the following maximum project costs have been estimated:

Act 34 Maximum Building Construction Cost $ 3,797,898 (Structure Cost, Design Fees, Movable Fixtures and Equipment, LESS Site Costs)

Other Project Costs $ 5,466,996 (Site Costs, Renovation Costs, and Remaining Soft Costs)

Maximum Project Cost $ 9,264,894

Adopted this 15th day of November, 2016, by Roll Call Vote, Yes and No, as follows:

Mr. Terry L. Seiders ________ Mr. Robert S. Cronin ________

Mr. Craig M. Hummer ________ Mr. Michael D. Nicodemus ________

Mrs. Karen R. Sweigart ________ Ms. Caroline Lalvani ________

Mr. Chris S. Olnick ________ Mrs. Michelle J. Pelna ________

Mr. Jeffrey D. Philips ________


Attest: _____________________________

Ms. Rebecca Maxwell, Secretary

Board of School Directors




24

PUBLIC HEARING NOTICE Please take notice that a public hearing will be held at the Bainbridge Elementary School located at 416 N 2nd Street, Bainbridge, PA on Tuesday, December 13, 2016 for the proposed renovations and additions to Bainbridge Elementary School, starting at 6:30 p.m. The purpose of this hearing is to review all relevant matters relating to the renovation, construction and equipping of the proposed Bainbridge Elementary School. A description of the Project, including facts relative to educational, physical, administrative, budgetary and fiscal matters of the project, will be presented and will be available for consideration at this public hearing, and, beginning Wednesday, November 23, 2016 a description booklet for the Project will be available during business hours at the Elizabethtown Area School District Administration Office located at 600 E High Street, Elizabethtown, PA 17022. The Board of School Directors of the Elizabethtown Area School District by resolution duly adopted has authorized the following maximum project costs and maximum building construction costs in connection with the project:

Act 34 Maximum Building Construction Cost $ 3,797,898 (Structure Cost, Design Fees, Movable Fixtures and Equipment, LESS Site Costs)

Other Project Costs $ 5,466,996 (Site Costs, Renovation Costs, and Remaining Soft Costs)

Maximum Project Cost $ 9,264,894 This public hearing is being held pursuant to the requirements of PA Public School Code of 1949, approved March 10, 1949, as amended and supplemented, including amendments made pursuant to Act 34 of the session of 1973 of the General Assembly. Any and all interested parties may attend and be heard at the public hearing. Interested parties that want to be placed on the public hearing agenda may submit their names and written testimony to the District Office (address listed above) until 12:00 noon on Tuesday, December 6, 2016. All testimony will be limited to five minutes per speaker. Additional testimony will be received from the floor at the hearing.

Additional comments regarding these projects will be received by the School Board Secretary until 12:00 noon on January 12, 2017.

Documents

ELIZABETHTOWN AREA SCHOOL DISTICT