INNOVATE INDIANA
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Exhibit B-4<br />
Project Timeline<br />
Project Budget & Funding<br />
Project Start Date 7/1/2015<br />
Project End Date 12/31/2017<br />
Start within 12 months? Yes<br />
Project Timeline<br />
Year 1 capital expenditures<br />
($) $4,014,000.00<br />
Year 2 capital expenditures<br />
($) $0.00<br />
Year 3 capital expenditures<br />
($) $0.00<br />
Year 4 capital expenditures<br />
($) $0.00<br />
Year 5 capital expenditures<br />
($) $0.00<br />
Total Capital Expenditures $4,014,000.00<br />
Ongoing expenditures for<br />
operations, maintenance,<br />
etc. ($) $948,000.00<br />
Total project budget $4,962,000.00<br />
Description of Capital<br />
Expenditures<br />
Description of Ongoing<br />
Expenditures<br />
Total project budget $4,962,000.00<br />
Local public funding $802,800.00<br />
Private funding $1,003,500.00<br />
Non-profit funding $1,404,900.00<br />
Other funding $3,211,200.00<br />
RCI funding required? Yes<br />
RCI funding needed $802,800.00<br />
RCI funding proportion of<br />
cap ex 20%<br />
Total private funds $2,408,400.00<br />
Private ratio calc 33<br />
Total public funds $1,605,600.00<br />
Public ratio calc 22<br />
Other $3,211,200.00<br />
Other ratio calc 44<br />
Total funding $7,225,200.00<br />
Variance between budget &<br />
funding $2,263,200.00<br />
Private/public/other funding<br />
ratio 33 / 22 / 44<br />
ADDITIONAL SUPPORT | SECTION 19<br />
7/1/15-12/31/15 – Fundraising, Project Planning and Design<br />
1/1/16-10/31/16 – Construction<br />
11/1/16-12/31/17 – Staffing, Course/Program Development, Marketing<br />
1/1/18 – Grand Opening<br />
Planning and Design: $180,000<br />
Construction: $2,334,000 (15,000 square feet at an estimated $155.40 per square foot, based on lab space construction at<br />
similar IU facilities)<br />
Furnishings, Fixtures, and Simulation Equipment: $1,500,000 (based on simulation lab FFE at similar IU facilities)<br />
Total Build Out/Leasehold Improvements: $4,014,000<br />
Operations:<br />
Staffing: Approximately $600,000 per year for 7 employees, including a director ($80,000+benefits), five simulation lab<br />
technicians (approximately $60,000+benefits), and a scheduling/administrative assistant ($35,000+benefits).<br />
Lab Maintenance: $60,000 per year (12% of Furniture, Fixtures, Equipment investment)<br />
Consumable Supplies: $60,000 per year<br />
Travel Expense: $10,000 per year<br />
Lease and Utilities: $225,000 per year ($15 per square foot)<br />
EXECUTIVE SUMMARY THE REGION ENGAGED CURRENT TRENDS<br />
STATE OF THE REGION<br />
& QUALITY OF PLACE<br />
VISION & STRATEGY PROJECTS<br />
STAKEHOLDERS, EXECUTION<br />
& STRUCTURAL CHANGES<br />
BENCHMARKING<br />
& MEASUREMENT<br />
3_SJC_Health Ed Active Learning Lab at RD<br />
REGIONALCITIESOFNORTHERN<strong>INDIANA</strong>.ORG |<br />
219<br />
ADDITIONAL SUPPORT
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