On October 24th, voters in Cape communities will be voting on the Cape Tech plan to construct a new school facility. The following is some financial information to assist in your decision making process:
Total Project Cost: $127,946,027
MSBA Contribution $ 41,902,324
Communities’ Share $ 86,043,703
Brewster’s Estimated Portion: $ 5,937,016 (6.9%)
Yearly Principal: $ 197,901
Interest: Yearly Declining
Bond Duration: 30 Years
Interest Rate:* 5.0%
Year 1 Payment: $ 494,751 = $0.129
Total 30 Year Payment - House 2017 Valuation of $520,778 = $1,409.
Michael E. Embury
*Interest rate is conservative; anticipated to be less than 5% at time of bond sale.