Financial Impact of New Middle School Detailed for Board

Updated Construction Costs from Legat Architects
Projected New Property Tax Revenue from William Baird & Associates

Updated costs for the construction of a new Hubble Middle School and the renovation of the existing building were presented to the Board of Education Wednesday by Legat Architects who figured the new costs based on the needs of the middle school program.  The Board also heard how much potential property tax revenue District 200, the City of Wheaton, and the Wheaton Park District could receive over the next 20 years if the current Hubble property is sold and developed into a multi-use project that includes retail, business, residential, and recreational spaces.        

Patrick Brosnan from Legat Architects estimated that a new school based on the program offered to sixth, seventh, and eighth graders would cost $46.8 million, not including the land.  The new estimate was developed after architects worked with the Hubble staff to identify the specific spaces to be included in a new building.  The estimated cost of renovating the existing school based on the same program standard is $55.7 million.

Bill Hepworth, a public finance manager with William Baird & Associates, discussed the financial advantages the community would realize if a new middle school is built on another site and the existing property developed with a high density multi-use project.  He projected that District 200 could receive from $16 million to $21.2 million in property tax dollars from the development through 2026.  In addition, he estimated the Wheaton Park District could receive $2.1 to $2.6 million in additional property taxes during the same period and that the City of Wheaton stands to gain about $4.1 million if the site is developed as described.

Mr. Hepworth’s estimates are based on assumptions of equalized assessed valuation growth prepared by Laube Companies for a potential developer of the Hubble property.

The district continues planning for the construction of a new middle school on another site in keeping with the Board of Education’s long-time goal to relocate Hubble to the southwest part of the school district.  Negotiations are still underway to purchase an 18-acre site west of Herrick Road between Warrenville and Galusha Roads in Warrenville.