Waddell School Timeline 2004 to Present
City School Board begins planning for improved school facilities 2004
City Council Holds Public Hearing and Unanimously Approves Renovate Lylburn Downing Middle School Community Center/School Board Office Replace Waddell School on existing site September 2007
City of Lexington makes first full payment on LDMS Bonds FY 2011
City Manager presents Conceptual Financing Plan for new Waddell School Assumptions: Estimated at $15,000,000 School to open in Fall 2018 January 2011
City Council appropriates $500,000 for Waddell FY2012
City Council adds 1 ¢ to Real Estate Taxes for Waddell School FY2013
City Manager prepares 6-year Projection of Future Obligations to gauge impact on tax rates October 2012
City Council requests feasibility of moving Waddell project up 2 or 3 years January 2013
Davenport Associates reports Analysis of various timing and financing scenarios and their impact on City finances March 2013
March 2013 Davenport Analysis Opening DateRate Previously Raised Additional Rate Needed cents15 cents cents15 cents cents16 cents Caution: This does not mean these increases will be adopted.
June 2013 Financial Update Opening DateRate Previously Raised Additional Rate Needed cents10 cents cents11 cents Staff updates Davenport’s results with new cost estimates suggested by Architect