1. Waddell School Timeline 2004 to Present

2. City School Board begins planning for improved school facilities 2004

3. 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

4. City of Lexington makes first full payment on LDMS Bonds FY 2011

5. City Manager presents Conceptual Financing Plan for new Waddell School Assumptions: Estimated at $15,000,000 School to open in Fall 2018 January 2011

6. City Council appropriates $500,000 for Waddell FY2012

7. City Council adds 1 ¢ to Real Estate Taxes for Waddell School FY2013

8. City Manager prepares 6-year Projection of Future Obligations to gauge impact on tax rates October 2012

9. City Council requests feasibility of moving Waddell project up 2 or 3 years January 2013

10. Davenport Associates reports Analysis of various timing and financing scenarios and their impact on City finances March 2013

11. March 2013 Davenport Analysis Opening DateRate Previously Raised Additional Rate Needed 20152 cents15 cents 20163 cents15 cents 20185 cents16 cents Caution: This does not mean these increases will be adopted.

12. June 2013 Financial Update Opening DateRate Previously Raised Additional Rate Needed 20163 cents10 cents 20185 cents11 cents Staff updates Davenport’s results with new cost estimates suggested by Architect