School Bond Information, April 6, 2004 Election
Overview | Proposition
4 | Proposition
5 | Proposition 6 | Total
Cost | Printable version 
Proposition 6 
Administrative and Training Facility
- Consolidate 5 rented office facilities,
plus two departments located in school spaces
- $1 million currently spent on rent can
instead go to general fund or debt service
(up to school board to determine)
Requested proposals from local developers
- Lowest price and best value: renovate
Kmart
- Renovate retail shell into 168,000 sq
ft of offices and conference rooms
- Complies with Anchorage 20/20 plan
to develop town centers
Cost comparison over 20 years, local taxes
- Continue current leases: $53.8 M
- Purchase and operate renovated Kmart:
$41.9 M
- Difference: $11.9 million
|
Local tax impact
|
|
With
State debt reimbursement
Estimated annual tax increase on every $100,000 of assessed valuation to
retire bond debt |
|
|
Without State
debt reimbursement
Estimated annual tax increase on every $100,000 of assessed valuation to
retire bond debt |
|
Proposition 6— Administrative
and Training Facility
|
Projects
|
Amount |
Estimated
Increase in Annual Operations & Maintenance
Costs |
State
Reimbursement* |
| Administrative and Training Facility |
$30,000,000 |
$0 |
60% |
| PROPOSITION 6 TOTAL |
$30,000,000 |
$0 |
60% |
|
| * |
Subject to annual legislative
appropriation |
|
|  |
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