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Brought to you by
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This report is created by Ken Ducote and Rose Drill-Peterson on behalf of the Eastbank Collaborative of Charter Schools
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Greetings!
The Master Plan Oversight Committee met at the OPSB Timbers Office Building, 3520 General DeGaulle Drive, Suite 4050, on September 25, 2012.
The meeting was for informational purposes only because a quorum could apparently not be achieved until the five new members are appointed. Members present for the meeting were only the two OPSB and BESE representatives, Woody Koppel and James Garvey respectively.
For each of the following items on the meeting agenda, presentations were made by RSD and/or OPSB staff, as well as Jacobs/CSRS project managers. Informational discussions by Committee members and the public then followed. No action was taken.
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MASTER PLAN OVERSIGHT COMMITTEE MEETING
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Capital Projects and Budget
Trends - Update on all revenue sources and project expenses
- New construction costs per square foot are creeping up, probably due to market conditions with increased local construction, such as new hospitals, new libraries, public and private recovery projects, etc.
- $267 per sq. ft. in 2008
- $193 per sq. ft. in 2010
- $222 per sq. ft. in 2011
- $245 per sq. ft. in 2012 so far
- All projects in MP as amended in 2011 remain planned as of now
- Project managers will continue to update cost and revenue projections and advise if any changes are necessary
- OPSB continues to pursue additional insurance proceeds from various tiers of carriers through arbitration and litigation
- Amended MP projects revenues of $60,000,000 in insurance proceeds
- Approximately $30,000,000 has been received so far
- Additional insurance proceeds typically trigger reductions in FEMA funds
Tax Credits - Status Update
- Amended MP projects revenues of $43,566,987 in State Historic Tax Credits (SHTC) and $40,000,000 in New Market Tax Credits (NMTC)
- Revenues from tax credits do not increase the amount of funds available beyond MP estimates but rather allow the funding and construction of the projects in the MP already
- As of now, Federal Historic Tax Credits are not projected because of legislation apparently requiring changes in occupants to qualify
- Projects planned in the Uptown area will apparently generate around $15,000,000 of the projected $43,566.987 in SHTC
- By law, school operators for which tax credits are obtained cannot subsequently modify buildings except within the parameters established by the federal and state historic preservation officials
- FHTCs are based upon competitive annual awards
- RSD and OPSB currently have pending $ 25 to 30 million in applications for potential award in Spring 2013
- There will be a major tax credit conference in New Orleans in this Fall during which project managers are planning to advance the local positions for the projected tax credits
Facilities
Status updates on new buildings, completed buildings and buildings in progress
OPSB & RSD Disadvantaged Business Enterprise Programs
- Construction Industry Day event on September 22 at SUNO, sponsored by RSD and OPSB to promote new DBE programs, was attended by about 200 persons, including general contractors, subcontractors, AGC, SBA, surety (bonding) companies, etc.
Status Updates/Progress
Report on the replacement of MPOC members
- Nominees for the five professional members of the MPOC are presently being vetted
- Members must not be involved in any MP work so as to be independent and credible
- Nominees are expected to be presented at October OPSB business meeting for approval
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This service is made possible by a Community IMPACT 2011 Grant from the Greater New Orleans Foundation.
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