The BCAD is considering building a new 11,550 square foot building at an estimated total project cost of $3.2 million. Financing options include a tax-exempt lease purchase structure with quarterly payments of $45,128.80 over 20 years at a fixed interest rate of 3.5%. A rent vs. own analysis shows that purchasing would result in annual operating costs of $230,758 compared to $159,906 for the current leased space, an additional cost of $70,852 per year. However, over the 20 year period the BCAD would gain over $1 million in equity from owning rather than continuing to lease.