INPUT’s Director of State and Local Information Services Tim Brett reports on Fairfax County, Virginia’s capital improvement plan.
Fairfax County Public Schools (FCPS) proposed accelerating the renovation schedule for many schools in its FY 2012-2016 Capital Improvement Program (CIP) due to lower construction costs. Favorable market conditions and lower than estimated construction bids have made it possible for FCPS to save more than $31 million over the past three years, enabling the school system to begin planning and construction on many projects sooner than expected. Renovations for schools in this year’s CIP accelerate from one to three years.
The five-year capital requirement totals $804.9 million or roughly $161 million per year. It represents roughly 45 percent of the $1.8 billion total CIP cost for FY 2012-2021. Funds approved in the 2009 School Bond Referendum and previous referenda will address approximately $199.4 million of the five-year requirement, leaving a balance of $605.5 million unfunded.
For the complete blog, go here.
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