Escondido Union School District March 2020 Bond Feasibility October - - PowerPoint PPT Presentation

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

1.Full Completion

a) Central b) Del Dios c) Mission d) Orange Glen

• 2. Del Dios Sports

Complex included

• 3. “Flagship”
• ption
• 1. All School Sites

benefit from the Bond Initiative

• 2. Eligibility for

State Funding

• 3. Modernizing

Aged Schools K-8 Option

• 1. Orange Glen/

Quantum

• 2. Bear Valley/

LR Green

2020 Bond Initiative Filters

• 1. Consolidation
• f Facility Assets

a) Lincoln b) Miller

• 2. Consider future

declining enrollment

2020 B Bon

• nd I

Init itiativ ive – Projects

A B C D

OPTION 1 OPTION 2 OPTION 3 OPTION 4

• Central - $22.6 Mil
• Orange Glen - $18.9 Mil
• Mission - $31.8 Mil
• Del Dios - $64.5 Mil

Total $138.0 Mil

• Felicita (Mod) - $28.3 Mil
• Juniper (New Const) - $14.6 Mil

Total $42.9 Mil

• Additional Projects - $24.1 Mil

IT Infrastructure Upgrade, Relocatables, Shade Structures, Playgrounds, Site Security, Restrooms, Hidden Valley Freezer/Cooler, and M&O projects

• Central - $22.6 Mil
• Orange Glen - $18.9 Mil
• Mission - $31.8 Mil
• Del Dios - $64.5 Mil

Total $138.0 Mil

• BV/LRG (K-8) - $56.5 Mil
• Felicita (No Mod) - $18.4 Mil

Total $75.0 Mil Over Budget – $32.8 Mil

• Additional Projects - $25.0 Mil

IT Infrastructure Upgrade, Relocatables, Shade Structures, Playgrounds, Site Security, Restrooms, Hidden Valley Freezer/Cooler, and M&O projects

• Central - $22.6 Mil
• Orange Glen - $18.9 Mil
• Mission - $31.8 Mil
• Del Dios - $64.5 Mil

Total $138.0 Mil

• Felicita (New Const) - $6.0 Mil
• Rose (Complete) - $30.8 Mil

Total $36.8 Mil

• Additional Projects - $30.2 Mil

IT Infrastructure Upgrade, Relocatables, Shade Structures, Playgrounds, Site Security, Restrooms, Hidden Valley Freezer/Cooler, and M&O projects

• 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 (Partial Mod) - $14.3 Mil

Total $44.9 Mil

• Additional Projects - $22.1 Mil

IT Infrastructure Upgrade, Relocatables, Shade Structures, Playgrounds, Site Security, Restrooms, Hidden Valley Freezer/Cooler, and M&O projects

X Y Z

2020 Bond Initiative ($205 Mil)

Potential O Opt ptions ns - Oct 2019 2019

March 2020 Bond Feasibility

5

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

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

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

2020 Bond Initiative ($205 Mil)

Potential O Opt ptions ns - Oct 2019 2019

Questions?

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