Board Meeting December 12, 2018 www.MassSchoolBuildings.org Table - PowerPoint PPT Presentation

Massachusetts School Building Authority Deborah B. Goldberg, State Treasurer and Receiver-General James MacDonald Chairperson Jack McCarthy Chief Executive Officer Executive Director Board Meeting December 12, 2018 www.MassSchoolBuildings.org

Table of Contents Project Votes Finance Update ▪ Invitation to Eligibility Period | Vote ▪ Sales Tax Collections | Update ▪ Invitation to Feasibility Study | Vote ▪ Grant Payments | Update ▪ Invitation to Project Scope and Budget | Vote ▪ FY19 Budget | Update Audit Update Legal ▪ Audit Status Report ▪ Approval of Final Audits with no appeals, Capital Pipeline Executive Session Program MSBA grants | Vote MSBA Updates ▪ Executive Director’s Report ▪ Project Status Updates ▪ Project Overview Report ▪ Review of Best Practices for K-12 STEM Learning Spaces | Update www.MassSchoolBuildings.org 2

Project Votes www.MassSchoolBuildings.org 3

Invitation to Eligibility Period | Vote District School Brookline John R. Pierce School Haverhill Dr. Albert B. Consentino School Hull Hull Memorial Middle School Norwood Dr. Philip O. Coakley Middle School Peabody William A. Welch Elementary School Revere Revere High School Spencer-East Brookfield Regional School District David Prouty High School Stoneham Stoneham High School Tyngsborough Tyngsborough Middle School Walpole Bird Middle School Webster Bartlett Junior/Senior High School Westfield Franklin Avenue Elementary School 4

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Invitation to Feasibility Study | Vote District School Andover West Elementary School Groton-Dunstable Regional School District Florence Roche School Medfield Dale Street Elementary School Watertown Watertown High School www.MassSchoolBuildings.org 16

Project Scope and Budget | Vote Estimated Project Total Project District School Maximum Total Scope Budget Facilities Grant Ivan G. Smith Elementary Danvers New $52,000,000 $19,842,384 School Dennis-Yarmouth Mattacheese Middle School New $116,978,831 $44,366,565 Regional School District Minot Forest Elementary Wareham New $90,474,182 $50,841,225 School Total $259,453,013 $115,050,174 www.MassSchoolBuildings.org 17

Project Scope and Budget | Danvers Ivan G. Smith Elementary School ▪ Year Opened: 1975 ▪ Current Grade Configuration: K-5 ▪ Agreed Upon Grade Configuration: K-5 ▪ Agreed Upon Enrollment: 465 students ▪ Scope of Project: New Construction on existing site ▪ Existing Square Footage: 44,021 GSF ▪ Proposed Square Footage: 82,728 GSF ▪ District Total Project Budget: $52,000,000 ▪ Estimated Basis Total Facilities Grant: $35,777,829 ▪ Reimbursement Rate*: 55.46% ▪ Estimated Maximum Total Facilities Grant: $19,842,384 * Subject to the District’s actual use of that construction delivery method for the Proposed Project, the MSBA has provisiona lly included one (1) incentive point. In addition, subject to the District’s intention to meet certain energy efficiency sustainability requir ements for the Proposed Project, the MSBA has also provisionally included two (2) incentive points. If the District does not ultimately qualify for some or all of these incentive points the MSBA will adjust the District’s reimbursement rate, accordingly. www.MassSchoolBuildings.org 18

Project Scope and Budget | Danvers Ivan G. Smith Elementary School www.MassSchoolBuildings.org 19

Project Scope and Budget | Danvers Ivan G. Smith Elementary School www.MassSchoolBuildings.org

Project Scope and Budget | Danvers Ivan G. Smith Elementary School www.MassSchoolBuildings.org

Project Scope and Budget | Dennis-Yarmouth Regional School District Mattacheese Middle School ▪ Year Opened: 1969 ▪ Current Grade Configuration: 6-7 ▪ Agreed Upon Grade Configuration: 4-7 ▪ Agreed Upon Enrollment: 940 students ▪ Scope of Project: New Construction to replace existing Mattacheese Middle School and Wixon Innovation School on the Station Avenue site ▪ Existing Square Footage: 122,207 GSF ▪ Proposed Square Footage: 186,500 GSF ▪ District Total Project Budget: $116,978,831 ▪ Estimated Basis Total Facilities Grant: $76,946,023 ▪ Reimbursement Rate*: 57.68% ▪ Estimated Maximum Total Facilities Grant: $44,366,565 * The MSBA has provisionally included two (2) incentive points for energy efficiency, subject to the District meeting certain sustainability requirements for the project. If the District does not meet the requirements for the energy efficiency, the District will not qualify for these incentive points, and the MSBA will adjust the reimbursement rate accordingly. www.MassSchoolBuildings.org 23

Project Scope and Budget | Dennis-Yarmouth Regional School District Mattacheese Middle School www.MassSchoolBuildings.org 24

Project Scope and Budget | Dennis-Yarmouth Regional School District Mattacheese Middle School www.MassSchoolBuildings.org

Project Scope and Budget | Wareham Minot Forest Elementary School ▪ Year Opened: 1966 ▪ Current Grade Configuration: PK; 3-4 ▪ Agreed Upon Grade Configuration: PK-4 ▪ Agreed Upon Enrollment: 1,020 students ▪ Scope of Project: New Construction to replace existing Minot Forest and John Williams Decas Elementary Schools on existing Minot Forest Elementary School site ▪ Existing Square Footage: 63,515 GSF ▪ Proposed Square Footage: 159,989 GSF ▪ District Total Project Budget: $90,474,182 ▪ Estimated Basis Total Facilities Grant: $68,874,835 ▪ Reimbursement Rate*: 74.98% ▪ Estimated Maximum Total Facilities Grant: $50,841,225 * The MSBA has provisionally included two (2) incentive points for energy efficiency, subject to the District meeting certain sustainability requirements for the project. If the District does not meet the requirements for the energy efficiency, the District will not qualify for these incentive points, and the MSBA will adjust the reimbursement rate accordingly. www.MassSchoolBuildings.org 28

Project Scope and Budget | Wareham Minot Forest Elementary School www.MassSchoolBuildings.org 29

Project Scope and Budget | Wareham Minot Forest Elementary School www.MassSchoolBuildings.org

Audit Update ▪ Audit Status Report ▪ Approval of Final Audits with no appeals, Capital Pipeline Program MSBA grants | Vote www.MassSchoolBuildings.org 33

Audit Status Update Today’s Vote Former Program Projects Currently Estimated Completed Projects Submitting for Costs Reimbursement Remaining 788 0 3* 2* $21.3 million of Approx. $15.7 billion of costs costs $0 of costs submitted and to be submitted and audited audited submitted** * Grant Conversion ** Estimated based on Total Project Budgets from executed funding and submitted costs as of December 6, 2018. www.MassSchoolBuildings.org 34

Audit Status Update Today’s Vote Capital Pipeline Program Projects Estimated Costs Currently Have Remaining Completed Projects Executed FSA and PFA 472 9 227 Approx. $5.32 billion of costs $2.88 billion of $ 2.76 billion of costs submitted and audited costs submitted and audited to be submitted* *Estimated based on Total Project Budgets from executed funding agreements and submitted costs as of December 6, 2018. www.MassSchoolBuildings.org 35

Capital Pipeline Program | Monthly Audited Project Costs Rolling 12 month submitted costs monthly average of $71.9 million Total 12 Month Audited Costs = $863 million Capital Pipeline Program Monthly Audited Project Costs $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2017 2018 www.MassSchoolBuildings.org 36

Audit Update ▪ Audit Status Report ▪ Approval of Final Audits with no appeals, Capital Pipeline Program MSBA grants | Vote www.MassSchoolBuildings.org 37