Specific Action Requested: ††††††
The Board of Commissioners approve the property acquisition for a Special/Optional School.
Item Summary: †
On November 7, 2000, Wake County voters approved a bond referendum for $500 million of general obligation bonds for school construction as the primary funding source for the $550 million Plan 2000 phase of the long-range school building program.† $6,279,915 was included for a special/optional middle school and $17,770,865 was included for land purchases. To date, $13,560,066 has been spent to acquire school sites, leaving a balance of $4,210,799.
According to Section 115C-426 of the North Carolina General Statutes, the Wake County Board of Commissioners is responsible for approving the purchase of property by the Wake County Public School System. At their August 17, 2004, meeting the Wake County Board of Education approved a resolution to purchase approximately 7.7 acres of land known as the Hedingham Oaks Office Complex, 4700 New Bern Avenue in Raleigh. The site includes two buildings, one of which is 32,560 square feet and will be renovated to house the special/optional school. The other building is 9,254 square feet and the plans for this building include assessment space for audiology, speech impairments, and learning disabilities. These assessment functions are currently divided between the Noble Road facility and the Harriet B. Webster facility on Atlantic Avenue.† If future expansion of the school is needed, this building would be used for that purpose.
The total purchase price is $3.2 million and the property was appraised for $4.75 million. WCPSS staff estimate the allocation of the purchase price to be $770,000 for land and $2,430,000 for improvements. This allocation of 24% of the purchase price for land is only slightly higher than the Wake County Revenue Departmentís allocation of 20% for land for the same property. The land portion would be paid from the land acquisition funds in Plan 2000, with the balance paid from the funds designated for the special/optional school.
The renovation costs of $1.9 million for this school are to be funded from Plan 2000, and the facility is scheduled to open in the fall of 2005. The smaller building would only have minor work, such as painting and new carpet and there is not currently an estimate of this cost. This building would open for assessment services by the second quarter of 2005.
The Board of Commissioners received this request as a report at its September 20, 2004, meeting. At that time, the Board had no questions that were unanswered, so this item has been placed on the consent agenda.