Capital Projects Requested at 10 Dec 2010 BOT Meeting

According to the notes available for tomorrow morning’s BOT meeting, they’ve begun the process to request the funding to build Parking Deck K on the east side of campus to serve the new higher-density housing that’s going to replace Smurf and Martin Villages. Cost to be about $27.4M. Looking at the Master Plan, it looks like the deck’s going to go where Parking Lot 6 is now. Also, I’m noting the the Cafeteria Activities Building is gone in the Plan, but that must be an oversight because they’re also asking for renovation funds.

The project will provide a new parking deck on the UNC Charlotte campus that will contain approximately 950-1000 spaces... It will be located on the east side of campus.
Other capital improvement projects on the Facilities agenda are:
6. Request for Authorization of Capital Projects – Tab F • Residence Hall Phase Xl • Cafeteria Activities Building Renovation • Residence Hall Phase Xll • Residence Hall Phase Xlll • Cedar/Hickory/Sycamore (Phase IV-A) Renovation • Residence Hall Phase XlV • Holshouser Hall Renovation • Elm/Maple/Pine (Phase V) Renovation • Parking Deck K\12-10-10%20Board%20Meeting\Financial%20And%20Physical%20Properties%20Committee\TAB%20F-2-Requests%20for%20Authorization%20of%20Capital%20Projects%20-%20BOT%20Dec%202010%20Final%20%20FPPC%20F.docx

Does anyone know how long the debt on each parking debt is for? Is it paid over 5 years? 10? 15?

I did some quick googling and couldn’t come up with an answer; but I did see that as of April 2009, five of the seven decks are still being paid for.

Besides funding maintenance and repair, monies generated by parking permits go toward retiring the debt service associated with deck construction, built using long-term bonds approved by the state. Currently, five of the seven decks on campus are still being paid off. Caton said an eighth structure (designated Deck H) is in the planning stages for a section of Lot 26. According to Caton, this deck will offset the loss of parking associated with Lot 24, which will go offline May 10 due to construction of additional on-campus housing. The estimated cost for Deck H is $18 to $20 million for 1,100 spaces.

Looks like Deck F (I’m guessing that was one of the East Decks) was 25 years at 3.5 - 5.125% and Deck G (Union Deck) was 30 years at 4 - 5%.

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