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Future Capital Facilities Bond Measure

Future Capital Facilities Bond Measure. Board of Education Meeting November 1, 2011 Lee Dulgeroff, Executive Director Facilities Planning and Construction. Background. Board of Education members have expressed interest in exploring the possibility of a 2012 capital facilities bond

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Future Capital Facilities Bond Measure

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  1. Future Capital Facilities Bond Measure Board of Education Meeting November 1, 2011 Lee Dulgeroff, Executive Director Facilities Planning and Construction

  2. Background Board of Education members have expressed interest in exploring the possibility of a 2012 capital facilities bond Prop. S was limited to $2.1 billion because it extended, but did not raise, the current property tax assessment Approximately $5 billion of facilities needs are not funded under Prop. S. There is a continuing need to relieve pressure on the General Fund.

  3. 2012 Bond Potential: $1.5B to $2B Prop. 39 allows for passage of bond programs with 55 percent voter approval. Prop. 39 restricts the property tax increase to a maximum of $60 per $100,000 of assessed valuation (AV). Initial evaluation by the district’s bond advisors determined that a property tax increase between $30 to $40 per $100,000 AV would allow for a $1.5 to $2 billion capital bond program. A new 2012 capital facilities bond would require a tax increase. Presidential elections historically favor school bond measures

  4. Preliminary List of Needs • Potential bond elements could include the following: • Major Repair and Replacement • Deferred major maintenance • i21 sustainability and expanded technology • Energy efficiency retrofits/renewable energy projects • Neighborhood school facility realignment (new classrooms and facilities in underserved areas) • Career Technical Education projects • Seismic upgrades/ADA improvements • Expansion of air conditioning into climate zone two • Portable replacement/certification • Site-specific projects (Correia Field Expansion, Patrick Henry theater, Perkins Expansion, McKinley joint-use field)

  5. Bond Feasibility Consultant • Primacy Group • Principal Larry Remer consulted on Prop. MM and Prop. S • Scope of Work • Explore the viability of new facilities • Conduct meetings with key internal stakeholders to develop recommendations for the potential size and scope of a new bond • Review the district’s stated “needs” to determine if a bond project list can be developed that is likely to gain public support • Conduct public opinion research • Conduct community/opinion leader outreach

  6. Bond Planning & Timeline • Refine scope and cost estimates • Validate and prioritize facility needs list by Board of Education • Define additional needs with parent and community input • Meet with cluster and community groups • Seek voter approval--November 6, 2012, election • The board would need to call for a bond election by August 10, 2012

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