Escondido Union School District March 2020 Bond Feasibility October 24, 2019
March 2020 Bond Feasibility 1) Bond Team Bond Counsel Financial Advisor Communication Strategist ARCADIS EUSD Internal Staff 2) San Diego County Taxpayers Association (SDCTA) Current Rating A+ ICOC support from SDCTA Representative Linda Bailey 3) Project List Options - October 10 4) Principal Input - October 18 5) Bond Workshop - October 24 6) Board decision to place Bond Initiative on Ballot - November 14 7) District places Bond Initiative on Ballot for 2020 Election - December 6 2
2020 Bond Initiative Filters B C D A 1. Consolidation 1.Full Completion K-8 Option 1. All School Sites of Facility Assets benefit from the a) Central 1. Orange Glen/ a) Lincoln Bond Initiative b) Del Dios Quantum b) Miller c) Mission d) Orange Glen 2. Eligibility for 2. Bear Valley/ 2. Consider future State Funding LR Green 2. Del Dios Sports declining Complex included enrollment 3. Modernizing Aged Schools 3. “Flagship” option 2020 B Bon ond I Init itiativ ive – Projects
2020 Bond Initiative ($205 Mil) Potential O Opt ptions ns - Oct 2019 2019 OPTION 1 OPTION 4 OPTION 2 OPTION 3 • Central - $22.6 Mil • Central - $22.6 Mil • Central - $22.6 Mil • Central - $22.6 Mil • Orange Glen - $18.9 Mil • Orange Glen - $18.9 Mil • Orange Glen - $18.9 Mil • Orange Glen - $18.9 Mil X • Mission - $31.8 Mil • Mission - $31.8 Mil • Mission - $31.8 Mil • Mission - $31.8 Mil • Del Dios - $64.5 Mil • Del Dios - $64.5 Mil • Del Dios - $64.5 Mil • Del Dios - $64.5 Mil Total $138.0 Mil Total $138.0 Mil Total $138.0 Mil Total $138.0 Mil • Felicita (Mod) - $28.3 Mil • BV/LRG (K-8) - $56.5 Mil • Felicita (New Const) - $6.0 Mil • Felicita (Complete) - $30.6 Mil • Juniper (New Const) - $14.6 Mil • Felicita (No Mod) - $18.4 Mil • Rose (Complete) - $30.8 Mil • Juniper (Partial Mod) - $14.3 Mil Y Total $42.9 Mil Total $44.9 Mil Total $75.0 Mil Total $36.8 Mil Over Budget – $32.8 Mil • Additional Projects - $24.1 Mil • Additional Projects - $25.0 Mil • Additional Projects - $30.2 Mil • Additional Projects - $22.1 Mil IT Infrastructure Upgrade, Relocatables, IT Infrastructure Upgrade, Relocatables, Shade IT Infrastructure Upgrade, Relocatables, Shade IT Infrastructure Upgrade, Relocatables, Shade Z Shade Structures, Playgrounds, Site Security, Structures, Playgrounds, Site Security, Structures, Playgrounds, Site Security, Structures, Playgrounds, Site Security, Restrooms, Hidden Valley Freezer/Cooler, Restrooms, Hidden Valley Freezer/Cooler, and Restrooms, Hidden Valley Freezer/Cooler, and Restrooms, Hidden Valley Freezer/Cooler, and and M&O projects M&O projects M&O projects M&O projects
March 2020 Bond Feasibility OTHER FUNDING SOURCES Prop E (Remaining Authorization after Series C) $48,000,000 Developer Fees $3,400,000 Average Interest Earnings (Prop E) $1,025,000 Average Interest Earnings (New Prop) $4,800,000 State Matching Funds $18,681,988 TOTAL FUNDS $75,906,988 Funds depend on State Bond Sales and the school sites selected 5
2020 Bond Initiative ($205 Mil) Potential O Opt ptions ns - Oct 2019 2019 OPTION 3A • Central - $22.6 Mil • Orange Glen - $18.9 Mil • Mission - $31.8 Mil • Del Dios - $64.5 Mil Total $138.0 Mil • Felicita (Complete) - $30.6 Mil • Juniper (Complete) - $45.9 Mil • Need additional $36.6 Mil Possible scenario: • Prop E Series D - $7.8 Mil 2024 • Prop E Series E - $12.4 Mil 2027 • Prop E Series F - $12.0 Mil 2030 • Additional Projects - $22.6 Mil IT Infrastructure Upgrade, Relocatables, Shade Structures, Playgrounds, Site Security, Restrooms, Hidden Valley Freezer/Cooler, and M&O projects 6
2020 Bond Initiative ($205 Mil) Potential O Opt ptions ns - Oct 2019 2019 OPTION 4A • Central - $22.6 Mil • Orange Glen - $18.9 Mil • Mission - $31.8 Mil • Del Dios - $64.5 Mil Total $138.0 Mil • BV/LRG (K8) - $56.5 Mil • Felicita (No Mod)- $18.4 Mil • Need additional $32.8 Mil Possible scenario: • Prop E Series D - $7.8 Mil 2024 • Prop E Series E - $12.4 Mil 2027 • Prop E Series F - $12.6 Mil 2030 • Additional Projects - $25.0 Mil IT Infrastructure Upgrade, Relocatables, Shade Structures, Playgrounds, Site Security, Restrooms, Hidden Valley Freezer/Cooler, and M&O projects 7
Questions? 8
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