Exploration of a Future Bond Measure for San Leandro Unified School District
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1 Exploration of a Future Bond Measure for San Leandro Unified School District Special Board Meeting April 13, 2010 Cindy Cathey, Interim Superintendent Song Chin-Bendib, Assistant Superintendent, Business Services Mike Murphy, Director, Measure B & Bond Projects
2 Measure A 1997 Voter Approved $53.8 Million Bond Initial 12- year schedule accomplished in 7 years Leveraged State Grants In Excess of $33 Million All Promised Projects Completed New San Leandro High School Science and Technology Wing New John Muir Middle School Academic Wing Bancroft Middle School Shop Renovation & Expansion Modernization at Nine School Sites District-Wide Seismic Upgrades and 1
3 Measure A 1997 Voter Approved $53.8 Million Bond New K-5 Facility Jefferson Elementary School Winter
4 Measure B: $109 million facilities bond passed with a 67.66% yes vote in November 2006 Conceptual Design Teams Secondary Development Team Citizens Oversight Committee Ford Lot Closes Escrow November 2006 February 2007 Bond Planning began February 2006 March 2007 Site Design and Review Teams (SDRT) June 2007 Summer/Fall, 2007 Career Technical Education (CTE)/ Prop 1D Grant Application Process Construction begins Winter 2008 Early Measure B timeline shows pre-construction planning and preparation 3
5 General Obligation Bond (Measure B) Conceptual Cost Estimate presented to the SLUSD Board of Education August 1,
6 Success Story: Funding Received for Fred Korematsu Campus (9 th th Grade Campus) 5
7 State Matching Funds for Measure B & Jobs Created 6
8 Impact of Measure B on Jobs Creation Today Currently, we have 126 contractors working on four projects: 9 th Grade Campus = 70 Contractors Bancroft Roofing & HVAC = 6 Contractors SLHS New Arts Ed. = 29 Contractors SLHS Library Expansion = 21 Contractors 7
9 Looking ahead things to consider when exploring a future bond measure for our students and schools Presented by Ruth Alahydoian, KNN Public Finance 8
10 General Obligation (G.O.) Bond Basics Proposition 39 Election 55% voter approval Regularly scheduled election dates Accountability requirements Citizens Oversight Committee Annual Performance and Financial Reports Tax rate maximum ($60 per $100,000 AV) San Leandro Unified School District November 2010 Bond Election Board Workshop page 10 9
11 Tax Rates for Alameda County Schools Tax Rate per District $100,000 AV Albany USD $ Berkeley USD Piedmont USD New Haven USD Oakland USD Castro Valley USD San Lorenzo USD Newark USD Dublin USD Pleasanton USD San Leandro USD Hayward USD Livermore Valley JUSD Alameda USD Fremont USD Sunol Glen USD Emeryville USD Source: Alameda County 11 10
12 Authorization Amount The Board will ask voters to approve a maximum authorization amount. Tax rate associated with that authorization amount is only an estimate based on assumptions. The Board must determine the appropriate assumptions to use to determine an authorization amount. BASE CASE Authorization Amount: $40 Million Assumptions: Tax Rate Target per $100,000 AV $20 Interest Rate Paid on Bonds 6% Assessed Value Growth Year to Year: % % % % and thereafter 3% San Leandro Unified School District November 2010 Bond Election Board Workshop page 12 11
13 Alternate Assumptions Change Authorization Amount Using different assumptions results in different authorization amounts. Changing Tax Rate Target: Tax Rate Authorization Amount $15 $30 Million $20 $40 Million $25 $50 Million $30 $60 Million $60 $120 Million Changing AV Growth Assumption: AV Growth in and thereafter Authorization Amount 0% $30 Million 1% $33 Million 2% $36 Million 3% $40 Million 4% $45 Million 5% $50 Million Changing Interest Rate Assumption: Interest Rate Authorization Amount 4% $52 Million 5% $45 Million 6% $40 Million 7% $35 Million San Leandro Unified School District November 2010 Bond Election Board Workshop page 13 12
14 What Happens if Assumptions are Not Accurate? What happens if assumptions are too aggressive? Tax rate must go higher than estimated and/or Bond issuance is delayed. What happens if assumptions are too conservative? Tax rate may be less than estimated and/or Bond issuance is accelerated, and/or Bonds are repaid sooner San Leandro Unified School District November 2010 Bond Election Board Workshop page 14 13
15 Tax Impact by Property Type Proportional Distribution of Assessed Values by Land Use Type Other Non Residential 1% SF Residential 48% Industrial 22% Commercial 12% Other Residential 0% Multifamiliy 10% Condominiums 6% San Leandro Unified School District November 2010 Bond Election Board Workshop page 15 14
16 Board Restrictions Once the resolution is passed, the District CANNOT advocate for a Yes vote on the bonds by: Spending District resources to help the campaign Allowing District staff to help with the campaign during working hours Advocating during Board meetings However, the District CAN: Provide information on the needs of District Allow staff and Board members to work on the campaign on their own time San Leandro Unified School District November 2010 Bond Election Board Workshop page 16 15
17 Schedule for November 2, 2010 Election Time Frame/Deadline Identify needs/engage school sites and community in developing project list March - May 2010 OPTIONAL - Hire a survey consultant to conduct a survey on voter sentiments April 2010 Begin information campaign about project list May 2010 Form a committee of community and school leaders to develop budget and direction for campaign -- committee hires a campaign consultant (recommended) March - May 2010 Solicit parent, teacher, administrator and public comments April - May 2010 Develop proposal for ballot measure - pull together project list and authorization amount June 2010 Draft ballot measure and resolution June 2010 Public discussion of specific projects on project list June 2010 Board meeting to approve resolution to place the bond measure on the ballot Deadline to submit resolution to County - MUST be approved 88 days before election day July 2010 August 6, 2010 Election campaign August - Nov 2010 ELECTION DAY November 2, 2010 San Leandro Unified School District November 2010 Bond Election Board Workshop page 17 16
18 What are the District s s facilities needs, now and in the future? 17
19 Potential SLUSD Bond Projects to Consider 18
20 Burrell Sports Field Existing Challenges Aging and Deteriorated Built in 1958 Seasonal Use Due to Natural Turf Noncompliance Safety Issues Handicap Accessibility Bleachers Mitigation Options Upgrade Existing Facilities $11 million Reconfigure New Stadium $15 million 19
21 San Leandro High School Pool Existing Challenges Pending Health Department Closure 2012 Noncompliance Safety Issues Pool Specific Filtration & Chlorination Systems Uneven & Deteriorated Pool Deck Cool Water Showers Mitigation Options Repair Existing Pools $1.5 million (Source: Arch-Pac Aquatics, 2008 with a 10% inflation adjustment) Replace Existing Pools $2.2 million (Source: Arch-Pac Aquatics, 2008 with a 10% inflation adjustment) New Swim Center $6.0 million San Leandro Unified School District November 2010 Bond Election Board Workshop page 20
22 Estimated Cost of a Bond Election Campaign costs covered by the Committee - $60,000 - $70,000 Committee will fundraise and build their own budget Some funds available from prior campaign Election costs covered by the District estimated at $60,000 Last November 7, 2006, General Election - Cost was $37, November election is least costly Billed for actual cost only Already paying for Board election in November 2010 San Leandro Unified School District November 2010 Bond Election Board Workshop page 22 21
23 Alternatives to November 2010 Proposition 39 elections must be held in even-numbered years. Next available election dates: February 7, 2012 June 5, 2012 November 6, 2012 San Leandro Unified School District November 2010 Bond Election Board Workshop page 22
24 Questions and Discussion 23
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