EDUCATIONAL AND FACILITIES MASTER PLANS: REVENUE BOND PROJECTS APRIL 11, 2018 PRESENTED BY: DR. DAVID BEA
REVENUE BONDS PROCESS Month Activity September 2017 Governing Board authorization to purchase properties at Downtown Campus • October 2017 • Applied Technology Summit • Request For Proposals (RFP) for financial advisor issued Allied Health Summit • November 2017 RFP for Financial Advisor closed • • First Responder EMT/PSESI Summit December 2017 • RFP committee review proposals from prospective financial advisors January 2018 Close for new properties at Downtown Campus (cash-funded) • • Finalize pre-design proposal with Swaim for Applied Technology Center of Excellence and Tucson Inn February 2018 • Computer Technology Summit • Financial advisor RFP awarded to Stifel, Nicolaus & Company, Inc. March 2018 • Fine Arts Summit • Revenue Bond Projects finalized by Executive Leadership Team • Governing Board provided direction to proceed with $56.1M in revenue bond projects April 2018 • Presentation of Revenue Bond Projects to Governing Board (detailed list provided by Facilities, Operations, & Construction)
PHASE 1 PROJECTS (2018-2020) Location Project Cost Downtown Campus Automotive/Transportation $15.00M Makerspace/CAD $3.00M Welding/Machine $5.25M Center of Excellence – Applied Technology $8.25M Downtown Campus Real Estate Expansion Opportunities $3.50M Soft Costs* $10.00M $45.00M *Soft Costs include: consultant fees (e.g. architectural/engineering), project management, PCC Facilities Planning and Information Technology, and regulatory and local utility development fees
PHASE 2 (2019-2021) Location Project Cost East Campus Public Safety and Emergency Services Institute (PSESI) $3.50M Soft Costs* $1.60M West Campus Allied Health $2.67M Simulation Labs Nursing Skills Labs Science Labs $2.80M District Improvements Food Service/Bookstore Renovations $0.50M (2018-2019) $11.07M *Soft Costs include: consultant fees (e.g. architectural/engineering), project management, PCC Facilities Planning and Information Technology, and regulatory and local utility development fees
REVENUE BONDS PROCESS – NEXT STEPS Month Activity May 2018 • Revenue Bond Project List submitted to Governing Board for review and approval FY19 Capital Project List submitted to Governing Board for review and approval • May – Selection of bond counsel and underwriter • September 2018 • Compilation of documents for official statement Governing Board to review and approve authorizing resolution for revenue bonds • • Preliminary official statement and legal documents to rating agency • Meet with key legislators and other constituents about projects Conference call with rating agency • • Joint Committee on Capital Review of bond-financed projects Bond ratings and bond insurance bids • • Pricing of the bonds • Draft closing documents Closing and delivery of the bonds •
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