1. 2 3 4 5 6 7 8 23% built before 1946 74% built between 1946 and 1985 3% built since 1985.
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Transcript of 1. 2 3 4 5 6 7 8 23% built before 1946 74% built between 1946 and 1985 3% built since 1985.
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Danger! Extreme Conditions!
Bebe Verdery
Did we want to stay with this title?
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Bebe Verdery
title?
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What’s Possible…
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Average Age of City School Buildings= 53 Years
23% built before 1946
74% built between 1946 and 1985
3% built since 1985
Bebe Verdery
need to decide whether to read the slide or the comments, can't be both. Total at bottom: "97% of city schools were built before 1986-nearly 30 years ago! ??
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163 schools
85% in POOR condition
50 schools unsalvageable
Educational Adequacy = F
$2.4 Billion Need
School Buildings Get Failing Grade
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$60 Million per Year Availablevs.
$2.4 Billion Needed
Current System = Band Aid Approach!
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Buildings Get Worse Costs Go Up
Year 0 Year 1 Year 2 Year 3 Year 4$1,000
$1,400
$1,800
$2,200
$2,600
$3,000
School C
onstr
ucti
on N
eed in M
illions
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Greenville, SC
$1 billion up front by leveraging existing funding streams
Rebuilt all 70 of its schools in 6 years
It’s Been Done Before!
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Predictable 30 year funding stream
$
$
$$
State Funds
BCPS Funds
City Funds
Step 1: Predictable Funding
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Financing Entity
$1 Billion for School Construction
Now!
Predictable 30 year funding
stream
Step 2: Leverage the Funding
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80 New or Fully Renovated Schools!
$1 Billion in School Construction
Step 3: Rebuild City Schools
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80 new or renovated
schools
vs.
Current System
A handful of new roofs, boilers, and
windows
$1 Billion in Capital Funding
New Schools or “Band Aids”
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Buildings Get BetterTotal Cost Shrinks
Year 0 Year 1 Year 2 Year 3 Year 4$1,000
$1,400
$1,800
$2,200
$2,600
$3,000
Total Remaining School Construction Need with Project by ProjectTotal Remaining School Construction Need with Block Grant
School C
onstr
ucti
on N
eed in M
illions
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Great Buildings for Kids NOW!
Economies of Scale!
Jobs, Jobs, Jobs!
Low Interest Rates
Benefits of Building Now
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State and City leaders
embrace this new
financing approach
Current Funding Streams Leverage $1 Billion IF:
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Build Schools. Build Neighborhoods.www.transformbaltimore.org
