1/2 Cent Sales Tax School Project Lists
The project budgets were developed following a time-tested process used to successfully budget for Capital Improvement Programs that are scheduled to be implemented over extended time periods. The estimating/budgeting process is comprised of several key factors:
- Market Condition - general review of local market conditions including general construction and development projects; annual growth metrics and subcontractor health and availability. For our area it is important to take into account the effects of hurricanes on our limited subcontractor pool and the increased costs and material shortages brought about by these events.
- Historical Data - review of pricing on similar projects for renovation/additions on previous programs with adjustment as necessary for variances in scope.
- Labor Cost Trends - based on RS Means 2019 labor cost trends for major construction trades in the region.
- National k-12 Cost Database – general review of a national database of similar k-12 projects that were then adjusted via a cost multiplier appropriate to the Florida panhandle.
These costs are initially developed based on expected contractor pricing and then adjusted to account for “soft costs” such as Architecture/Engineering Fees; Furniture, Fixtures and Equipment (FF&E); cost escalation for planned construction; and general contingencies for unforeseen changes over ten years.