It’s a $25 Million Renovation Project.
By Jim Conley • Jun 1st, 2008 • Email This Post to a Friend •
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There they go again. In all the nonsense over having $700 thousand left over for office furniture from the Brookline town hall renovation, the flunkies in the town administration want us to believe they’ll have only spent $14 million on the gut and build out.
I asked the town treasurer where the total cost for the project will come in and here’s what he told me:
Per your request for information regarding the total cost of the Town Hall project, including Debt cost, the information is as follows:
Town Hall Design = 1,260,000 (Debt)
Town Hall Construction = 13,800,000 (Debt)
Town Hall Construction = 950,000 (Cash)
Town Hall Construction = 2,150,000 (Cash)Sub-Total = 18,160,000
Debt Service on Design = 287,334 (actual, 10 year term)
Debt Service on 1st 6.9M = 3,018,038 (actual, 20 yr term)
Est Interest on 6.9M BAN = 241,500 (est, 1 yr term)
Est Interest on 2nd 6.9M = 3,000,000 (est, 20 yr term)Sub-total Interest = 6,546,875
Total = 24,706,875
Please note that the last two interest amounts are estimates, as the funds
have not yet been borrowed.
That sure looks like a lot more than the $14 million that Selectman Bobby Allen told last week’s town meeting was the project’s total outlay. Oh, for the want of such a simple mind.
Jim Conley is publisher of On Brookline.
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