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|
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Nassau BOCES has a contract to lease One Merrick Avenue for the next
10 years with the option to renew for another 10 years at the rates
shown below. If the agency purchases the building instead, an estimated
savings of $20 million will be passed on to local school districts. The
chart below shows a year-by-year breakdown of renting versus owning the
building.
|
Year
|
Rent and Real Estate Taxes
|
Debt Service
|
Savings
|
|
1
|
$1,568,436 |
$518,146 |
$1,050,290 |
|
2
|
$1,629,262 |
$1,338,975 |
$290,287 |
|
3
|
$1,692,512 |
$1,336,775 |
$355,737 |
|
4
|
$1,758,288 |
$1,338,775 |
$419,513 |
|
5
|
$1,826,693 |
$1,339,775 |
$486,918 |
|
6
|
$1,897,835 |
$1,339,775 |
$558,060 |
|
7
|
$1,971,827 |
$1,338,775 |
$633,052 |
|
8
|
$2,048,788 |
$1,336,775 |
$712,013 |
|
9
|
$2,128,840 |
$1,338,775 |
$790,065 |
|
10
|
$2,212,110 |
$1,337,275 |
$874,835 |
|
11 |
$2,298,734 |
$1,339,025 |
$959,709 |
|
12 |
$2,388,849 |
$1,338,775 |
$1,050,074 |
|
13 |
$2,482,600 |
$1,336,525 |
$1,146,075 |
|
14 |
$2,580,141 |
$1,337,275 |
$1,242,866 |
|
15 |
$2,681,628 |
$1,335,775 |
$1,345,853 |
|
16 |
$2,787,226 |
$1,339,588 |
$1,447,638 |
|
17 |
$2,897,106 |
$1,340,513 |
$1,556,593 |
|
18 |
$3,011,450 |
$1,338,550 |
$1,672,900 |
|
19 |
$3,130,442 |
$1,335,850 |
$1,794,592 |
|
20 |
$3,254,278 |
$1,339,850 |
$1,914,428 |
|
Total costs |
$46,247,044
|
$25,945,547
|
$20,301,497
|
|
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