Fiscal Analysis

AlpenaCommunity College

Project Cost Increase

Bill/Sponsor

SCR 46, Senator S. Johnson

House Committee

Appropriations

Analysis

Summary

The Instructional Addition/Renovation capital outlay project forAlpenaCommunity College was authorized under PA 297 of 2005.  The total authorized cost was established at $3,335,000 to be financed equally between State Building Authority bonds and Alpena CC funds.  This multi-component project entails the construction of a new Fine Arts Facility, expansion of the Computer Technology Program space, and renovation of the Natural Resources Center.

Unanticipated inflationary increases have resulted in a project cost increase of $770,500, or 23% above the original estimate.  The college will finance the entire cost increase.

The Joint Capital Outlay Subcommittee (JCOS) approved this resolution, with recommendation.  The Department of Management and Budget also recommends approval.

State Fiscal Impact

None

Local Fiscal Impact

AlpenaCommunity College will finance the entire cost increase

AlpenaCommunity College – Instructional Addition/Renovation Project

Current Authorizations

Requested

Change

Revised

Authorizations

StateBuilding Authority

$1,667,300

$0

$1,667,300

State GF/GP

200

0

200

Alpena CC

1,667,500

770,500

2,438,000

Totals

$3,335,000

$770,500

$4,105,500

Analyst(s)

Al Valenzio

Mitchell Bean, Director - House Fiscal Agency

124 N. Capitol Avenue, Lansing, MI 48909

 Phone: (517)373-8080, Fax: (517)373-5874

 http://www.house.mi.gov/hfa