2020 School Bond Renewal Board Work Session June 2, 2020 Agenda - - PowerPoint PPT Presentation

2020 School Bond Renewal

Board Work Session

June 2, 2020

Agenda

• Bond referral timeline overview

– Board decision points – Community engagement – Important dates

• Financial overview
• 2020 bond renewal options discussion
• Community engagement
• Other questions/considerations

Referral Timeline Overview

JULY JULY

7/6 7/13 7/20 7/27 6/1 6/8 6/15 6/22

JUNE JUNE

Identify Options for Engagement Community Engagement

• n Options

Finalize Option & Referral Vote File Referral Paperwork Identify Preferred Option

AUG AUG

8/3 8/10 6/29

Referral Timeline Key Dates

Identify Options for Engagement Community Engagement

• n Options

Finalize Option & Referral Vote File Referral Paperwork Identify Preferred Option

June 2: Board identifies options for engagement & community feedback June 15 - July 3: Community survey, poll, stakeholder calls July 6 - 14: Board reviews feedback, identifies preferred

• ption; Preferred option and hearing info posted

July 21: Public hearing; Board direction to finalize option July 28: Referral vote on final option Aug 3: Notice of Ballot Title filed Aug 14: Hard deadline for Notice of Ballot Title filing

Financial Overview

Two Key Questions:

• If we go out for another bond in two years,

can we do so without raising the rate?

• Is there enough capacity in such a bond

to complete the last three high schools without raising the rate?

Bond Renewal Options Discussion

• Educational Improvements

○ Technology ○ Curriculum ○ SPED Classrooms ○ Other improvements

Bond Renewal Options Discussion

• Health & Safety

○ Roofs ○ Mechanical ○ Security ○ Seismic ○ ADA ○ Other improvements

Bond Renewal Options Discussion

• Modernizations & Rebuilds

○ Benson & MPG ○ High school planning/design ○ Capacity planning

Bond Renewal Options Discussion

Option 1A: $584 Million Option 2A: $699 Million

Educational Improvements:

Technology Curriculum SPED Classrooms

Health & Safety

Roofs & Mechanical Security Seismic ADA

Modernizations & Rebuilds:

Benson Polytechnic HS Completion MPG new building Management (5%): Program Contingency (10%):

$156.9M

127.5M 24.9M 4.5M

$150.5M

98M 26.5 15M 11M

$200M

138M 62M 25.3M 50.7M

Educational Improvements:

Technology Curriculum SPED Classrooms Other improvements

Health & Safety

Roofs & Mechanical Security Seismic ADA Other improvements Modernizations & Rebuilds: Benson Polytechnic HS Completion MPG new building Capacity Management (5%): Program Contingency (10%):

$189.0M

127.5M 29.2M 22.3M 10M

$208.5M

146M 26.5M 15M 11M 10M $210M 138M 62M 10M 30.8M 60.7M

All options maintain the current tax rate previously approved by voters

Bond Renewal Options Discussion

Option 1B: $670 Million Option 2B: $785 Million

Educational Improvements:

Technology Curriculum SPED Classrooms

Health & Safety:

Roofs & Mechanical Security Seismic ADA

Modernizations & Rebuilds:

Design & Plan 3 HS Benson Polytechnic HS Completion MPG new building Management (5%): Program Contingency (10%):

$156.9M

127.5M 24.9M 4.5M

$150.5M

98M 26.5 15M 11M

$275M

75M 138M 62M 29.1M 58.2M

Educational Improvements:

Technology Curriculum SPED Classrooms Other improvements

Health & Safety:

Roofs & Mechanical Security Seismic ADA Other improvements

Modernizations & Rebuilds:

Design & Plan 3 HS Benson Polytechnic HS Completion MPG new building Capacity Management (5%): Program Contingency (10%):

$189.0M

127.5M 29.2M 22.3M 10M

$208.5M

146M 26.5M 15M 11M 10M

$285M

75M 138M 62M 10M 34.1M 68.3M

All options maintain the current tax rate previously approved by voters

Bond Renewal Options Discussion

Option 3A: $998 Million Option 3B: $1 Billion

Educational Improvements:

Technology Curriculum SPED Classrooms

Health & Safety:

Roofs & Mechanical Security Seismic ADA

Modernizations & Rebuilds:

Jefferson High School Benson Polytechnic HS Completion MPG new building Cleveland/Wilson Pre-Development Management (5%): Program Contingency (10%):

$156.9M

127.5M 24.9M 4.5M

$150.5M

98M 26.5 15M 11M

$560M

320M 138M 62M 40M 43.4M 86.7M

Educational Improvements:

Technology Curriculum SPED Classrooms

Health & Safety:

Roofs & Mechanical Security Seismic ADA

Modernizations & Rebuilds:

Jefferson High School Benson Polytechnic HS Completion MPG new building Cleveland/Wilson Pre-Development Management (5%): Program Contingency (10%):

$161.2M

127.5M 29.2M 4.5M

$150.5M

98M 26.5 15M 11M

$560M

320M 138M 62M 40M 43.6M 87.2M

All options maintain the current tax rate previously approved by voters

Community Engagement

• Website
• Stakeholder outreach by Board members
• Mobile-friendly survey (qualitative and

quantitative)

• Virtual town hall
• Public hearing

Questions or

• ther considerations?