Elementary Facility Plan Cost Comparison

  • A frequently asked question as the school district has been developing a facilities master plan is whether it is more cost effective to renovate the current facilities versus building new ones. In the case of Tippecanoe Middle School, renovation was far more cost-effective and extended the life of the building by 30 or more years without any additional taxes from Tipp City residents. For the elementary schools, the comparison of renovation of the existing structures to state standards versus the board-adopted plan, which involves renovation of LT Ball Intermediate School with an addition of over 94,000 square feet for new K-5 classroom spaces, is included below.

    Renovate Existing Buildings to State Standards1

    Broadway (Grades 2-3)2
    Renovate to Replacement Cost Factor3: 99%
    $16.5M 
    Nevin Coppock (Grades K-1)
    Renovate to Replacement Cost Factor3: 99%
    $9.2M
    LT Ball (Grades 4-5)
    Renovate to Replacement Cost Factor: 62%
    $10.1M
    Modular Classroom Rental During Renovations

    $1.5M
    TOTAL COST TO TAXPAYERS $37.3M

    Renovate LT Ball to State Standards & Add K-5 Classrooms 

    Current Bond Issue 
     
    $35.75M 
    OFCC Financial Commitment
     
    -$10M
    LT Ball Remaining Renovations
    Completed using the OFCC ELPP credit
    $5.3M
    Sale of Broadway Site (estimate)

    -$.25M
    TOTAL COST TO TAXPAYERS $30.8M

    1  OFCC will not invest in renovation of Nevin Coppock or Broadway Elementary.
    2  Renovation pricing does NOT include any renovation of Tipp City Central.
    3  When the cost to renovate a school exceeds 66% of the cost of replacing the building, an approved waiver application is required before the Ohio Facilities Construction Commission will invest in the renovation of a school facility. It is not typically deemed a sound investment by the State to invest in renovating such a property.