Costs

The following information reflects the revised design and cost information that is being proposed for the 2022 bond vote.

Total project costs are summarized below.

Construction ‘Hard Costs’$4,796,000
Owner ‘Soft Costs’
Design & Testing
Legal
Security, Data & Technology
Furnishings
Utility Charges & Bond Costs
Contingency

$338,680
$10,000
$65,000
$100,000
$50,000
$215,300
TOTAL PROJECT COSTS$5,574,980

Proposed 2022 Bond Vote: $590,510 less than 2021 Bond Amount

Building Cost Savings:

  • Reduce Addition Square Footage (eliminated Flex Classroom & Gym Storage)
  • Simplified design of addition
  • Utilized more cost-effective building materials
  • Reduced renovation work

Sitework Costs Savings:

  • Redesigned addition to avoid moving road and existing transformer

Soft Cost Savings:

  • Lower building costs resulted in lower design/admin fees and contingency

Projected tax impact figures are still being reviewed and the following table includes options for a 10-year, 15-year, and 20-year bond term from the New Hampshire Municipal Bond Bank. Tax impact estimates are based on level principal payments and the 2021 town assessed valuation of $811,883,203.  If the project passes, the school board will apply for use of impact fees to offset the interest payments for the first year of the bond.

10-Year Term15-Year Term20-Year Term
Estimated Interest Rate1.50%2.00%2.50%
Year-1 Est. Tax Rate per $1,000 Valuation$0.17$0.17$0.17
Year-2 through Final Year Average Est. Tax Rate per $1,000 Valuation$0.74$0.53$0.43
Estimated Average annual taxpayer impact (assumes a $350,000 assessed property)$259$184$152
Estimated Bond Sale Data prepared by NH Municipal Bond Bank 12/27/2021

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