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Facilities Update

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  1. Facilities Update Matthew E. Beecher Assistant Superintendent for Business Services July 10, 2013

  2. Topics to Cover • Current Financing • Projects Under Design • Other Future Projects • Future Financing • Next Steps

  3. Current Financing… • 2013 Refunding COP is in place • Saves the District $3.5 Million in future debt service payments • Cost of Issuance $375,814 • 3.18% Interest • Final Payment June 1, 2028

  4. Current Financing Cont’d… • 2013 New Construction COP • Provided $25 Million in project funds • 3.66% Interest Cost • $619,275 Cost of Issuance • Final Payment June 1, 2033 • Funding for Acquistapace Elementary • Secured Match Funding from State Building Program

  5. State Building Program Match • Acquistapace qualifies for $9.5 Million • Staff has filed required paperwork • State staff assures us payment will occur within three weeks • This crucial funding would have been lost if the 2013 New Construction COP had not been approved

  6. Total Resources • Because of actions taken by the Board January 30, 2013, the District has leveraged $25 Million into almost $40 Million for facilities projects

  7. Project Summary *Projects are at various stages…

  8. Project Plan Summary • Without state match, current resources are expended before we build a new school • Amounts are estimates, actual results may vary

  9. Options • We can hope that the state reengages the State building program • $9,751 Elementary Expansions $4,387,950 • $10,312 Junior High Expansion $3,093,600 • $7,481,550 will not be enough to do more than purchase future properties • State match for the purchase and construction of the brand new schools would total just over $16.8 Million • State match totals $24.3 Million to meet a need of more than $60.9 Million leaves us $36.6 Million short

  10. Cautionary Note • It is not known that the state will put together a new construction bond for schools. • If this does not happen, there will be no money coming in for State match • If nothing else changes, all school sites will lose intervention classrooms, computer labs, and libraries because by 2017-18, the District will be at least 29 classrooms short

  11. What does 29 Classrooms Short Mean? • No extra rooms, that currently serve sites as; • Weight rooms • Libraries • Computer labs • Intervention rooms • Staff rooms • Meeting rooms • ASES • These are not really “extra” rooms, they serve an important purpose

  12. Breakdown of Classrooms • Of the 29 classrooms we will be short • 14 are Junior High • 15 are Elementary • Project list adds 8 Junior High Classrooms and 18 Elementary • This addresses the emergency needs • But keep in mind that this does not resolve the overcrowding that exists on most of our campuses

  13. What can be done • There is more that can be done to provide classrooms that will • Reduce class size • Allow for differentiated instruction and intervention • Better exposure to technology • More opportunity for small group learning

  14. General Obligation Bond Financing • We can allow the voters to support a financial solution to the facilities challenge • We have already taken a first pass at feasibility that demonstrated strong support • We asked tough questions to get a real sense of the community • …there is too much conflict on the board… • …last time their contractor went bankrupt…

  15. Community Priorities

  16. General Obligation Bonds

  17. Recognizing the District’s History

  18. Reflecting on the District’s History Need 55% 3% Over Passes Short 5.5% Fails 4.5% Over Passes 9.3% Over Passes With the perspective of Proposition 39’s 55% threshold…

  19. Setting the stage… • Are we ready to move forward on a bond issue? • Time is on our side • Election is several months away • Time to hear from the community, to tell our story, and to build our plan • Would need to formally call for the election in February 2014 or the first part of March

  20. Timeline • July 2013 – We are ready to investigate and inform • August/September 2013 – Community meetings to listen, learn, and share about challenges and solutions. • November 2013 – Tracking poll, are we on target for June 2014? • December 2013 – Planning Public Information/Ballot Preparation steps • January/February 2014 – Finalize Ballot measure, public input and adjustment • February/March – Board calls for an election

  21. Discussion/Direction • The Board Majority has voiced their interest in pursuing the best options that allow students to experience smaller class sizes in well-sized schools, in a single track setting • We are looking for Board direction to have staff return to the next meeting with; • Contracts for Finance Team, Tracking polls, Communications, etc. • A defined plan of action • Direction to staff to pursue a General Obligation Bond • to allow the community to vote on a ballot measure supporting our schools and students

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