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COSCC Project Description

8

Spaces

Cost

Parking Structure

Phase 1

248

6,780,000

$

Phase 2

252

4,305,234

$

Total

500

11,085,234

$

Parking Facility Costs

818,000

$

90,000

$

1,020,000

$

1,250,000

$

3,602,000

$

Total

6,780,000

$

TSSBA Debt

Assumptions:

Project Cost

3,602,000

$

Interest Rate

7.00%

No. of Years

20

Cost of Issuance

2.00%

Administrative Costs

0.20%

Annual Debt Service Pmt.

347,483

$

Issue Size

Project Cost

3,602,000

$

Cost of Issuance

72,040

$

Administrative Costs

7,204

$

Size of Bond Issue

3,681,244

$

Parking Facility

Phase 1 Financing

Williamson Campus Residual Funds

Williamson Building 4 Planning Funds

Maintenance Funds Re-Direction

Legislative Appropriation

TSSBA Debt

Summary

Construction of Phase 1 of a parking

facility that will provide 248 additional

parking spaces

Phase 1 will meet the anticipated short

term needs of the campus

Parking facility can be expanded in future

by adding 2 decks