View
212
Download
0
Category
Preview:
Citation preview
GPISD Steering Committee Recommendation
We are recommending to the Board of Trustees that the Board call for a $117 million bond election to be placed on the ballot for the May 9, 2015 election
This will fund the following initiatives
New Elementary School – Grades Pre-K-5New Middle School – Grades 6-8New Career-Tech Center and additional classrooms at G-P High SchoolSite acquisition for future schoolsCapitalization of school items: athletic and stadium improvements, technology, school buses, etc.
Age of Current Facilities
Campus Age Remaining Life
Intermediate 50 1-5
Junior High 50 1-5
High School 11 39-44
Central Office 61 0 (10)
Age of Current Facilities
Campus Age Remaining Life
Andrews 35 15
Austin 7 43-48
Clark 21 29-34
East Cliff 57 0 (2)
Expected Future Attendance
Fiscal Year Average Daily Attendance
2013 4209
2014 4240
2015 4279
2020 4920
2025 5656
2035 7499
Economic and Demographic Growth
TPCO AmericaCheniereVoestalpineLa Quinta projectExpansion of the Port of Corpus Christi
Debt Service
Existing Interest & Sinking (Long Term Debt) tax rate is 0.18 for each $100 assessed property valuationThe proposed debt service rate will remain the same at $0.18 This rate will not be affected by this bond proposal
Maintaining Debt Service Rate
• Increased Property Valuations• State assistance (will decrease
with increased district wealth)• Three to Five Bond Series will be
sold within the next seven years
Summary
Aging facilities New Schools,Career/tech programsAthletic facilitiesState Funding DeclineMore Capital improvements by debt servicesStrong financial position
Summary
With all of this in mind, we feel that the time is now to move forward with these improvements and allow the district to maintain its leadership position in education for the coastal bend area
Breakdown of the BondProject Square Ft Estimated Cost Schedule of
Construction
*Education Complex at old East Cliff
*$4,000,000 2015-2016
New Elementary at suitable site
92,500 sf $25,000,000 2015-2018
New Middle School at current site
210,000 sf $55,000,000 2016-2019
High School Addition 62,500 sf $16,500,00 2016-2019
50 Ac. Site $1,000,000 2015
Total $101,500,000-$4,000,000$97,500,000
Capitalization Item +$19,500,000
Total Bond $117,000,000
5 Year Capitalization ItemsItems Amount
Athletic Uniforms $97,200
Band Instruments HS $387,000
Band Instruments JH $198,000
Video Technical $300,000
Health sciences $69,000
Secondary Music $151,200
Elementary Music $49,000
Theater $28,800
Technology $3,400,000
School Buses $1,452,000
Service Vehicles $150,000
HVAC Equipment $255,000
Furniture New Campuses $4,875,000
Maintenance Projects (short term, Athletics Restrooms, Concession Stands and Ticket booth)
$8,087,600
Total $19,500,000
Expected Revenue and Recapture
Fiscal Year Estimated Revenues
Recapture Amount
2013 $30,914,55 $0
2014 $34,846,027 $0
2015 $32,658,486 $0
2020 $45,517,709 ($393,974)
2025 30,463,820 ($9,468,667)
2035 $53,329,504 ($23,020,634)
Building New vs. Renovating
The District asked DBR Engineering to estimate MEP improvements which would be required to extend the usable life of each campus by 25-30 years
Building New vs. Renovating
Average renovation cost 67% of new construction cost (per s.f.)*Average life expectancy of renovated campuses is 50% of new construction*
*Specific calculations are available upon request
Recommended