GREENVILLE ISD Bond Steering Committee. Recommendations to the Board of Trustees for a May 2014 Bond Election

Transcription

1 GREENVILLE ISD Bond Steering Committee Recommendations to the Board of Trustees for a May 2014 Bond Election

2 Purpose & Agenda Charge of the Committee Background of the Process Information Reviewed Recommendations to the Board

3 Bond Steering Committee Co-Chairs Michael Phillips Judge Andrew Bench Secretary Kelli Tharp Members George Alexander Gina Burk Mandy Clayton Kimberly Cribbs Shannon DeGarso Emma Dominguez Kelly Gaudreau Susana Gomez Chip Gregory Heath Jarvis John Kelso Kris Koger Chad Martin Dale Mason Dr. David Minchey Danna Myers Jim Olenski Marcia Penland Penni Perkins Joel Pitts Barbara Price Tonya Randall Lisa Redd Katie Robles Ralph Sanders Greg Sims Eugenia Swanson Emily Cozine Thompson Wes Underwood Amy Wade Nobie Walker Amber Walton Kelley Wiggins Lance Woodard Advisory Members Don Jefferies Bruce Shores Billy Myers Slack Brown Tom Durham

4 Charge of the Bond Steering Committee To represent the entire community in the bond planning process To review the needs of GISD facilities To bring forward a plan to the GISD Board of Trustees that will include recommendations as to what should be included in a May 2014 bond election

5 Background on the Process District hired an architect Architect interviewed District staff and administration to identify needs and space requirements District conducted a third-party community survey that said the community is in favor of a bond District formed a citizens Bond Steering Committee to study identified priorities Met regularly from December 2013 to February 2014 Reviewed data and options for consideration Toured Greenville ISD campuses Formed a recommendation for a May 2014 bond election

6 Information Reviewed Community Survey District financial information Input from district/campus staff Greenville campus tours Architect s cost estimates

7 Our Recommendations On February 11, 2014, present members of the GISD Bond Steering Committee unanimously came to a consensus to recommend to the GISD Board of Trustees to call a bond election for May 10, 2014 for a total of $72,274,964 to: Provide safety and security upgrades for all campuses Construct a new Bowie Elementary School Construct a Career and Technology Academy addition to the High School Provide renovations and various improvements at each campus Provide technology upgrades for all campuses

8 Safety and Security Security Upgrades (All Campuses) Add controlled vestibule entries $1,019,700 New access control system (keyless entry) $730,000 Surveillance system upgrades and expansion $740,000 Increase perimeter fencing $170,000 Miscellaneous repairs, signage, and lighting $265,750 Construction Cost Subtotal $2,925,450 Bond Cost Subtotal $3,723,619

9 Safety and Security, cont d. Life Safety Issues Site/traffic issues $2,500,000 - L.P. Waters: New access drives, new parking lot, and reconstruction of existing parking $550,000 - Crockett: New drives, new parking lot, and repaving $600,000 - Travis/6 th Grade: New access drives (address separate campus drop-off/pickups) and new parking lots $875,000 - Houston Education Center: Add parking lot $336,000 - Wesley Martin Administration Building: Add parking lot $139,000 Fire alarm upgrades/replacements $1,439,500 Life Safety Issues Construction Cost Subtotal $3,939,500 Life Safety Issues Bond Cost Subtotal $5,096,816 Total Bond Cost (including safety and security upgrades) $8,820,435

10 New Facility Bowie Elementary Demo of existing Bowie Elementary $408,750 New facility utilizing current K-1 st wing $13,320,000 Temporary campus during construction $625,000 Abatement of existing campus $175,000 Total Construction Cost $14,528,750 Total Bond Cost $17,600,000

11 New Facility Career & Technical Academy 49,416 SF Addition Building Trades (Mechanical, Plumbing, Electrical) Culinary Arts Electromechanical Engineering/Solar Car Health Services EMT/911 Robotics Welding 14,500 SF Renovation of Shops Auto Body Shop Auto Tech Ag Shop Metals Shop 3,650 SF Renovated Lab/Classroom Space Information Tech Computer Maintenance Networking $12,377,360 $950,000 $346,750 Total Construction Cost $13,674,110 Total Bond Cost $18,000,000

12 Campus Total Project Costs L.P. Waters Early Childhood Center Site/traffic issues $711,575 - New access drives - New parking lot and reconstruction of existing parking - Drainage improvements - Increase perimeter fencing - Exterior lighting (included in Safety and Security Package) Security $292,554 - New controlled front entry - Access control system - Surveillance system - Upgrade intercom system - Replace fire alarm panel and expand system Campus Priorities - Abatement, demolition, and removal of abandoned portable - Upgrade carpet and various ceiling tile at Pre-K classroom addition, front entry - Fix/replace various Food Service items - Renovate special education restroom (included in Safety and Security Package) $25,000 $105,000 $8,000 $12,000 Campus Priorities Bond Cost $200,000 Total Campus Bond Cost $1,204,129

13 Campus Total Project Costs Carver Elementary School Security $303,875 - New controlled front entry - Access control system - Surveillance system - Upgrade intercom system Campus Priorities - Masonry cap replacements - Building drainage (included in Safety and Security Package) $7,500 $25,000 Campus Priorities Bond Cost $44,997 Total Campus Bond Cost $348,872

14 Campus Total Project Costs Crockett Elementary School Site/traffic issues $776,263 - New drives - New parking lot and repaving existing parking - Drainage improvements - Add parking lot lighting - Increase perimeter fencing (included in Safety and Security Package) Security $583,330 - New controlled front entry - Access control system - Surveillance system - Upgrade intercom system - Replace fire alarm panel and expand system Campus Priorities - Addition of 8000 SF (classroom space to remove campus portables) - Renovation of gym and connection corridor - Replace corridor doors in original building - Renovate single user restrooms (ADA) - Necessary asbestos abatement for renovated areas - Renovate cafeteria - Remove portable buildings (included in Safety and Security Package) $1,450,000 $250,000 $28,000 $35,000 $25,000 $225,000 $30,000 Campus Priorities Bond Cost $2,950,000 Total Campus Bond Cost $4,309,593

15 Campus Total Project Costs Lamar Elementary School Security $303,875 - New controlled front entry - Access control system - Surveillance system - Upgrade intercom system Campus Priorities - Masonry cap replacements - Building drainage - Remove portable buildings (included in Safety and Security Package) $7,500 $25,000 $30,000 Campus Priorities Bond Cost $86,533 Total Campus Bond Cost $390,408

16 Campus Total Project Costs Travis Elementary School / 6 th Grade Center Site/traffic issues $1,132,051 - New access drives (address separate campus drop-off/pick-ups) - New parking lots - Drainage improvements - Increased perimeter fencing - Exterior lighting (included in Safety and Security Package) Security $807,929 - New controlled front entry for both Travis ES & 6 th Grade Center - Access control system - Surveillance system - Upgrade intercom system/split controls - Replace fire alarm panel and expand system (included in Safety and Security Package) Campus Priorities - Addition of 18,850 SF (elementary gym, music/campus meeting room/classrooms) - Renovation of existing locker room space to be repurposed as restrooms and programmable space used for each campus - Renovation of existing main entry and administration to be repurposed as programmable space used for each campus - New gym bleachers at 6 th grade gym - Replacing doors and hardware - Necessary asbestos abatement for renovated areas - Re-apply sealants - Remove upper windows in corridors and replace with 1 hour fire rated wall - Remove portable buildings $3,487,250 $422,400 $405,000 $40,000 $244,500 $75,000 $60,000 $75,000 $60,000 Campus Priorities Bond Cost $6,937,036 Total Campus Bond Cost $8,877,016

17 Campus Total Project Costs Greenville Middle School Security $390,600 - New controlled front entry - Access control system - Surveillance system - Upgrade intercom system - Replace fire alarm panel and expand system Campus Priorities - Structural corrections - Exterior envelope maintenance to masonry, windows, sealants and copings. - Various code corrections - Replace HVAC units, cooler, piping and related equipment - Upgrade electrical service and panels - New roofing - New flooring and wall finishes (including necessary asbestos abatement) (included in Safety and Security Package) $400,000 $154,642 $54,500 $2,060,000 $125,000 $625,000 $400,000 Campus Priorities Bond Cost $5,000,000 Total Campus Bond Cost $5,390,600

18 Campus Total Project Costs Greenville High School Security $374,062 - New controlled front entry - Access control system - Surveillance system - Upgrade intercom system - Replace fire alarm panel and expand system Campus Priorities (included in Safety and Security Package) - Structural corrections at cafeteria/kitchen suspended floor - Re-apply sealants - Provide new bleacher systems each side of competition gyms, between practice gyms - Handicap lift at stage - New expansion joint corrections/covers - Replace HVAC units, cooler, piping, and related equipment $1,000,000 $132,870 $375,000 $30,000 $50,000 $2,230,000 Campus Priorities Bond Cost $5,900,000 Total Campus Bond Cost $6,274,062

19 Campus Total Project Costs Houston Education Center Site/traffic issues $336,000 - Add parking lot - Drainage Improvements - Increase perimeter fencing - Exterior lighting (included in Safety and Security Package) Security $286,125 - New controlled front entry - Access control system - Surveillance system - Upgrade intercom system - Replace fire alarm panel and expand system Campus Priorities - Replace doors in original building - Various flooring upgrades - New door hardware (included in Safety and Security Package) $35,000 $193,165 $31,835 Campus Priorities Bond Cost $350,000 Total Campus Bond Cost $972,125

20 Technology Long-life Assets Short-life Assets Technology Upgrades (All Campuses) District Networking Needs $3,000,000 Upgrade end of life network electronics Add bonding and grounding protection Upgrade all UPS equipment and protect network electronics Upgrade fiber optic backbone infrastructure Expand wireless network coverage Classroom Technology $4,000,000 Interactive projector, cabling, installation, electricity Apple TV, Cabling, Speakers Document Cameras per Classroom K-8 ipads K-8 Cases, Sync Cart, Cabling, MacBook Pro per grade level 9-12 Cases Total Bond Cost $7,000,000

21 Our Recommendations Bond Project Cost Safety and Security upgrades for all campuses $8,820,435 Construct a new Bowie Elementary School $17,600,000 Construct a Career Tech Academy addition to the High School $18,000,000 Renovations and various improvements at each campus $20,854,529 Technology upgrades for all campuses $7,000,000 TOTAL $72,274,964

22 Greenville Independent School District $72,275,000 Bond Election Summary Sheet 2/13/ Issued July 1, 2014 Principal Paid I&S Surplus Maximum Current I&S Tax Rate Election Size Term Rate Off First 5 Years Contribution* I&S Tax Rate I&S Tax Rate Increase $ 72,275, Year 4.65% $ 7,000,000 $ 1,786,302 $ $ = $ $ 72,275, Year 4.70% $ 5,680,000 $ 1,770,105 $ $ = $ $ 72,275, Year 5.00% $ 2,305,000 $ 1,771,681 $ $ = $ Current Projected I&S Tax Rate $72,275,000 WITH $7 Million Short Life Projects $72,275,000 Level Tax Rate 25 Yr $72,275,000 Level Tax Rate 30 Yr $0.50 $0.45 $0.40 $0.35 $0.30 $0.25 $0.20 $0.15 $0.10 $0.05 $ I&S Tax Rate MAXIMUM Tax Rate Impact on Greenville ISD Homeowners** Home Values ** Election Size Tax Increase $ 50,000 $ 75,000 $ 100,000 $ 125,000 $ 150,000 $ 175,000 $ 200,000 $ 72,275,000 $ $ $ $ $ $ $ $ $ 72,275,000 $ $ $ $ $ $ $ $ $ 72,275,000 $ $ $ $ $ $ $ $ NOTE: HOMEOWNERS OVER 65 WITH FROZEN TAXES WILL NOT EXPERIENCE AN INCREASE IN THEIR TAX BILL FOR THEIR HOMESTEAD AS A RESULT OF THIS BOND ELECTION * PSF Interest Rates as of PLUS 0.50% ** In order to reduce projected impact of bond election as much as possible, I&S fund balance used to 'buy down' the I&S Tax Rate in first five years: *** Tax rate impacts calculated on the home value less $15,000 mandatory homestead exemption. FirstSouthwest 1 Public Finance Department

23 Greenville Independent School District $72,275, Year Bond Election Scenario WITH $7,000,000 of Short Life Projects 2/13/ PSF Rates as of 2/12/14 PLUS 0.50% Tax Base Growth Assumptions $ 72,275, Year 4.65% 7/1/14 LESS: FYE Taxable Projected Existing I&S Fund Balance Net GISD Calculated (3) FYE 31 Aug Valuation (1) Growth Rate Debt Service Principal Interest Total P&I Contribution (2) I&S Tax Levy I&S Tax Rate 31 Aug 2014 $ 1,587,871,916 $ 2,029,331 $ 2,029,331 $ ,603,750, % 2,027,731 $ 1,205,000 $ 3,339,297 $ 4,544,297 $ 466,068 6,105, ,619,788, % 2,029,431 1,360,000 3,175,145 4,535, ,557 6,167, ,635,986, % 2,034,231 1,415,000 3,133,520 4,548, ,062 6,228, ,652,345, % 2,031,606 1,475,000 3,090,170 4,565, ,800 6,290, ,668,869, % 2,026,831 1,545,000 3,044,870 4,589, ,815 6,353, ,668,869, % 2,033, ,000 3,007,070 3,982,070 6,015, ,668,869, % 2,026,646 1,010,000 2,977,295 3,987,295 6,013, ,668,869, % 2,030,696 1,040,000 2,946,545 3,986,545 6,017, ,668,869, % 2,026,046 1,075,000 2,914,820 3,989,820 6,015, ,668,869, % 2,027,831 1,105,000 2,882,120 3,987,120 6,014, ,668,869, % 2,030,569 1,145,000 2,842,645 3,987,645 6,018, ,668,869, % 2,024,425 1,195,000 2,795,845 3,990,845 6,015, ,668,869, % 3,310,000 2,705,745 6,015,745 6,015, ,668,869, % 3,450,000 2,566,233 6,016,233 6,016, ,668,869, % 3,605,000 2,411,808 6,016,808 6,016, ,668,869, % 3,770,000 2,245,870 6,015,870 6,015, ,668,869, % 3,950,000 2,067,233 6,017,233 6,017, ,668,869, % 4,140,000 1,875,095 6,015,095 6,015, ,668,869, % 4,345,000 1,670,318 6,015,318 6,015, ,668,869, % 4,565,000 1,449,740 6,014,740 6,014, ,668,869, % 4,800,000 1,215,615 6,015,615 6,015, ,668,869, % 5,045, ,490 6,014,490 6,014, ,668,869, % 5,305, ,740 6,015,740 6,015, ,668,869, % 5,580, ,615 6,018,615 6,018, ,668,869, % 5,865, ,558 6,014,558 6,014, ,668,869, % 2040 $ 26,378,598 $ 72,275,000 $ 56,625,400 $ 128,900,400 $ 1,786,302 $ 153,492,695 $7,000,000 of principal amortized in first five years for short life projects/items (i.e. technology) (1) FYE 2014 adjusted net taxable value per Hunt County Appraisal District; value assumed to grow at 1.0% for 5 years; constant thereafter. (2) Surplus I&S funds used to manage I&S Tax Rate; approximately $1.95 million available as of 9/1/13. (3) Fiscal 2014 I&S Rate is actual; calculated at 98.0% tax collections thereafter. FirstSouthwest 2 Public Finance Department

24 Greenville Independent School District $72,500, Year Bond Election Scenario Level Tax Rate Structure 2/13/ PSF Rates as of 2/12/14 PLUS 0.50% Tax Base Growth Assumptions $ 72,275, Year 4.70% 7/1/14 LESS: FYE Taxable Projected Existing I&S Fund Balance Net GISD Calculated (3) FYE 31 Aug Valuation (1) Growth Rate Debt Service Principal Interest Total P&I Contribution (2) I&S Tax Levy I&S Tax Rate 31 Aug 2014 $ 1,587,871,916 $ 2,029,331 $ 2,029,331 $ ,603,750, % 2,027,731 $ 1,000,000 $ 3,369,668 $ 4,369,668 $ 503,615 5,893, ,619,788, % 2,029,431 1,135,000 3,210,944 4,345, ,654 5,952, ,635,986, % 2,034,231 1,155,000 3,176,594 4,331, ,577 6,012, ,652,345, % 2,031,606 1,180,000 3,141,569 4,321, ,804 6,072, ,668,869, % 2,026,831 1,210,000 3,105,719 4,315, ,455 6,133, ,668,869, % 2,033,221 1,020,000 3,072,269 4,092,269 6,125, ,668,869, % 2,026,646 1,060,000 3,041,069 4,101,069 6,127, ,668,869, % 2,030,696 1,085,000 3,008,894 4,093,894 6,124, ,668,869, % 2,026,046 1,125,000 2,975,744 4,100,744 6,126, ,668,869, % 2,027,831 1,155,000 2,941,544 4,096,544 6,124, ,668,869, % 2,030,569 1,195,000 2,900,319 4,095,319 6,125, ,668,869, % 2,024,425 1,250,000 2,851,419 4,101,419 6,125, ,668,869, % 3,370,000 2,759,019 6,129,019 6,129, ,668,869, % 3,510,000 2,617,032 6,127,032 6,127, ,668,869, % 3,665,000 2,459,982 6,124,982 6,124, ,668,869, % 3,835,000 2,291,232 6,126,232 6,126, ,668,869, % 4,015,000 2,109,588 6,124,588 6,124, ,668,869, % 4,210,000 1,914,244 6,124,244 6,124, ,668,869, % 4,420,000 1,706,851 6,126,851 6,126, ,668,869, % 4,640,000 1,485,765 6,125,765 6,125, ,668,869, % 4,875,000 1,250,210 6,125,210 6,125, ,668,869, % 5,125,000 1,000,210 6,125,210 6,125, ,668,869, % 5,390, ,179 6,125,179 6,125, ,668,869, % 5,675, ,993 6,127,993 6,127, ,668,869, % 5,975, ,856 6,128,856 6,128, ,668,869, % 2040 $ 26,378,598 $ 72,275,000 $ 57,731,908 $ 130,006,908 $ 1,770,105 $ 154,615,400 $5,680,000 of principal amortized in first five years for short life projects/items (i.e. technology) (1) FYE 2014 adjusted net taxable value per Hunt County Appraisal District; value assumed to grow at 1.0% for 5 years; constant thereafter. (2) Surplus I&S funds used to manage I&S Tax Rate; approximately $1.95 million available as of 9/1/13. (3) Fiscal 2014 I&S Rate is actual; calculated at 98.0% tax collections thereafter. FirstSouthwest 3 Public Finance Department

25 Greenville Independent School District $72,500, Year Bond Election Scenario Level Tax Rate Structure 2/13/ PSF Rates as of 2/12/14 PLUS 0.50% Tax Base Growth Assumptions $ 72,275, Year 5.00% 7/1/14 LESS: FYE Taxable Projected Existing I&S Fund Balance Net GISD Calculated (3) FYE 31 Aug Valuation (1) Growth Rate Debt Service Principal Interest Total P&I Contribution (2) I&S Tax Levy I&S Tax Rate 31 Aug 2014 $ 1,587,871,916 $ 2,029,331 $ 2,029,331 $ ,603,750, % 2,027,731 $ 345,000 $ 3,677,003 $ 4,022,003 $ 486,003 5,563, ,619,788, % 2,029, ,000 3,526,943 3,996, ,005 5,619, ,635,986, % 2,034, ,000 3,512,693 3,992, ,361 5,675, ,652,345, % 2,031, ,000 3,497,993 3,997, ,280 5,732, ,668,869, % 2,026, ,000 3,482,843 3,992, ,032 5,789, ,668,869, % 2,033, ,000 3,470,993 3,750,993 5,784, ,668,869, % 2,026, ,000 3,462,368 3,757,368 5,784, ,668,869, % 2,030, ,000 3,453,443 3,753,443 5,784, ,668,869, % 2,026, ,000 3,444,218 3,759,218 5,785, ,668,869, % 2,027, ,000 3,434,693 3,754,693 5,782, ,668,869, % 2,030, ,000 3,423,293 3,753,293 5,783, ,668,869, % 2,024, ,000 3,409,693 3,759,693 5,784, ,668,869, % 2,430,000 3,354,093 5,784,093 5,784, ,668,869, % 2,535,000 3,251,624 5,786,624 5,786, ,668,869, % 2,645,000 3,138,243 5,783,243 5,783, ,668,869, % 2,770,000 3,016,405 5,786,405 5,786, ,668,869, % 2,900,000 2,885,205 5,785,205 5,785, ,668,869, % 3,040,000 2,744,130 5,784,130 5,784, ,668,869, % 3,195,000 2,592,055 5,787,055 5,787, ,668,869, % 3,355,000 2,428,305 5,783,305 5,783, ,668,869, % 3,530,000 2,256,180 5,786,180 5,786, ,668,869, % 3,710,000 2,075,180 5,785,180 5,785, ,668,869, % 3,900,000 1,884,930 5,784,930 5,784, ,668,869, % 4,100,000 1,683,905 5,783,905 5,783, ,668,869, % 4,315,000 1,469,700 5,784,700 5,784, ,668,869, % 4,545,000 1,240,169 5,785,169 5,785, ,668,869, % 4,790, ,143 5,784,143 5,784, ,668,869, % 5,055, ,747 5,786,747 5,786, ,668,869, % 5,335, ,680 5,786,680 5,786, ,668,869, % 5,630, ,418 5,783,418 5,783, ,668,869, % 2045 $ 26,378,598 $ 72,275,000 $ 78,147,280 $ 150,422,280 $ 1,771,681 $ 175,029,197 $2,305,000 of principal amortized in first five years for short life projects/items (i.e. technology) (1) FYE 2014 adjusted net taxable value per Hunt County Appraisal District; value assumed to grow at 1.0% for 5 years; constant thereafter. (2) Surplus I&S funds used to manage I&S Tax Rate; approximately $1.95 million available as of 9/1/13. (3) Fiscal 2014 I&S Rate is actual; calculated at 98.0% tax collections thereafter. FirstSouthwest 4 Public Finance Department