Item Title: Land Acquisition for a New High School (H-6) and Future Elementary School in the Northeastern Raleigh, South Rolesville Area (Second Reading)
Specific Action Requested:
On April 7, 2008 the Board of Commissioners received information on this site as a first reading. Since that time additional due diligence and concept planning was completed. At their July 15, 2008 meeting the Board of Education reaffirmed their support for the recommended purchase of the 80.802 acre site. On July 21, 2008 the item was presented to the Board of Commissioners as a First Reading. Since that time staff has developed an attached matrix and maps of four sites considered that outlines comparative elements involved in site selection including cost per acre, access, environmental conditions and availability of water and sewer in order to answer questions raised by the Board July 21, 2008.
On February 19, 2008 and on March 4, 2008, the Board of Education accepted the terms and conditions of two agreements to purchase approximately 80.802 acres of property from two property owners for a combined high school (H-6) and a landbank opportunity for a future elementary school. High school H-6 is included in CIP 2006. The development of H-6 is directly related to the new high school construction plans involving the Wake Forest Rolesville High and Heritage High. Wake Forest Rolesville students will be housed in Heritage High beginning in the fall of 2009 in order to accommodate the Wake Forest Rolesville renovation. Heritage will then open with its 9th and 10th graders and the 9th and 10th graders assigned to H-6 in the fall of 2010. In the fall of 2011, H-6 is scheduled to open and will accept 9th and 10th graders.
The 80.802-acre site is comprised of six tracts and a portion of a seventh tract. The proposed contract purchase price for all tracts is $63,000 per acre. The primary assemblage of 74.66 acres has been appraised by an MAI appraiser at an appraised value of $67,706 per acre totaling $5,055,000. The remaining 6.142 acres (80.802 -74.66) is referred to as Canyon Drive. The tract is not a NCDOT road, but will provide an additional entrance to the future elementary school. That 6.142 acres was not originally identified for the appraisal. It is presumed that the 6.142 acres would be similarly valued and could potentially increase the value of the 74.66 acres with the additional access.
The site is off of Forestville Road in northeastern Wake County within the City of Raleigh's Extra-territorial Jurisdiction. WCPSS will petition for annexation. Customary road improvements are likely to be needed along Forestville Road including widening and construction of turn lanes. Per City of Raleigh staff, water is available along Forestville Road and gravity sewer is to a pump station at the southern boundary of the assemblage. All wetlands and stream buffers have been delineated and a concept plan has been developed indicating the feasibility of developing the site as a high school and future elementary school. Per City of Raleigh staff, road connectivity by a residential collector street will be required from the existing road that terminates at the northern boundary of the assemblage to the stream at the southern boundary of the western portion of the site. Other due diligence has been completed including boundary and topographical surveys, Phase I Environmental Reports and confirmation of the costs and availability of off site infrastructure.
Additional geotechnical investigation of the site revealed the presence of rock that precipitated the WCPSS to contract for a Value Management Estimate to determine the premium that should be expected in the costs associated with the presence of rock. That amount is estimated to be approximately $1,994,000. WCPSS budgets $8,500,000 for grading and site work for a high school. The rock represents a premium of 23.5% of additional site development costs. A copy of the Geotechnical Report has been provided and a Preliminary Conclusions and Recommendations is attached. Due to the location and size of the assemblage and its relationship to the other high school construction projects, the presence of water and sewer service, usual and customary road improvements and the ability to “landbank” an additional elementary school site, the WCPSS recommends the purchase of the site.
A Site Concept Plan is attached that depicts the layout of the site and proposed configuration of site components, as well as all other attachments related to due diligence, including the completed checklist.
6. Bond Summary
10. GIS Aerial Photo
12. Appraisal Cover