EDUCATIONAL AND FACILITIES MASTER PLANS: REVENUE BOND PROJECTS - - PowerPoint PPT Presentation

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 Simulation Labs Nursing Skills Labs $2.67M Science Labs $2.80M District Improvements (2018-2019) Food Service/Bookstore Renovations $0.50M $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 – September 2018

• Selection of bond counsel and underwriter
• 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