The SBA Funding Allowance Formula is based on a Mathematical Equation
The SBA Square Footage Cost Allowance is updated annually by the SBA Staff and is based on historical data, projections, and assumptions. It assumes a competitive bidding market, reasonable site costs, and required conformance to the SBA's Quality and Performance Standards.
Current SBA Square Footage Costs Allowance is as follows:
To renovate and add an addition to the existing County High School, which was built in 1970, serves 525 Students, and received a $1,000,000 MIP grant from the SBA in 2010, we would calculate:
525 Students (Enrollment)
x 224 Square Feet Per Student (SBA 166)
= 117,600 Square Feet (max size of new school if replacing current)
x 250 Dollars per Square Feet (SBA SqFt cost allowance - HS)
= $29,400,000 (cost to build new replacing current school)
x 0.65 Renovation & Addition Allowance multiplier (Add./Renov. in a 40+ year old school)
= $19,110,000 (Renovation & Addition Allowance)
- $1,000,000 (Previous SBA Funding)
Please contact the SBA Staff for specific questions relating to your proposed project's funding allowance.
Image above: South Preston PK-8 Classroom, courtesy of Williamson Shriver Architects.