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Facilities Update

Facilities Update. Matthew E. Beecher Assistant Superintendent for Business Services July 10, 2013. Topics to Cover. Current Financing Projects Under Design Other Future Projects Future Financing Next Steps. Current Financing…. 2013 Refunding COP is in place

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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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