Additional+Points+to+Consider


 * ADDITIONAL POINTS TO CONSIDER **


 * Market conditions now mean there are a different pool of bidders available to public school clients. A short while ago, the bidders lists often consisted of the same companies project after project. Now the number of interested bidders is greater and companies that recently shunned public bidding are interested in all sizes of projects.


 * Construction is on sale. Recent public school bid results mirror the residential market. Construction bids have been down 10 to 15 percent from a few years ago when escalating construction costs were hard to predict. Construction is on sale.


 * Financing is cheap. While interest rates have begun to rise, they are still lower than previous years. Investment bankers predict a continued rise in interest rates so prompt financing can lock in the attractive rates for years to come. The American Recovery and Reinvestment Act provided our district with $15 million interest-free debt through Qualified School Construction.


 * The School District can save money for years to come with energy upgrades and green design. The Pennsylvania Department of Education offers additional reimbursement for LEED silver certified projects. Projects can receive an additional 10 percent reimbursement for each rated pupil. Even without LEED certification, smart energy-efficient design can save considerable operating cost for the life of the building. Replacing old inefficient schools make sense for the environment and your annual budget.


 * Our school district can be set when the economy improves. The economic down turn won’t last forever. A smart new school or comprehensive renovation done now can lock in attractive prices and financing for years to come. The attractive construction and financing costs will be paid in the future when constituents are in better economic shape; and, with inflation the tax burden will seem lighter than now.


 * The current prices may be down but they won’t stay down. As the economy perks up the costs of building supplies and labor will rise as well. Contracting companies that have been adjusting prices are going to readjust in the other direction when the economy permits. Financing costs are also likely to drift up in the coming year. Inflation will begin to pick up--how much and how soon is an international issue. We really do live in a global economy. Demand overseas for building materials and crisis abroad drive up commodities. Weather and security incidents directly affect the commodity costs. The current construction and financing cost savings makes the opportunity today even more compelling.