exploration of a future bond measure for san leandro ... · san leandro unified school district...
Post on 03-Jun-2020
3 Views
Preview:
TRANSCRIPT
Exploration of a Future Bond Measure Exploration of a Future Bond Measure for San Leandro Unified School Districtfor San Leandro Unified School District
Special Board MeetingApril 13, 2010
Cindy Cathey, Interim SuperintendentSong Chin-Bendib, Assistant Superintendent, Business Services
Mike Murphy, Director, Measure B & Bond Projects
Measure AMeasure A1997 Voter Approved $53.8 Million Bond1997 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
New K-5 Facility—Jefferson Elementary School Winter 2004
Measure AMeasure A1997 Voter Approved $53.8 Million Bond1997 Voter Approved $53.8 Million Bond
2
Measure B: $109 million facilities bond passed with a 67.66% yes vote in November 2006
Citizens Oversight Committee
Conceptual Design Teams
Construction begins Winter 2008
February 2007November 2006Bond Planning began February 2006 March 2007
June 2007
Summer/Fall, 2007
Early Measure B timeline shows pre-construction planning and preparation …
Site Design and Review Teams (SDRT)
Secondary Development Team
Career Technical Education (CTE)/ Prop 1D Grant Application Process
Ford Lot Closes Escrow
3
General Obligation Bond (Measure B) Conceptual Cost Estimate presented to the SLUSD Board of Education August 1, 2006
4
Success Story: Funding Received for Success Story: Funding Received for Fred Korematsu Campus Fred Korematsu Campus (9(9thth Grade Campus)Grade Campus)
5
State Matching Funds State Matching Funds for Measure B & Jobs Createdfor Measure B & Jobs Created
6
Impact of Measure B on Jobs Impact of Measure B on Jobs Creation TodayCreation Today
Currently, we have 126 contractors workingon four projects:
• 9th Grade Campus = 70 Contractors• Bancroft Roofing & HVAC = 6 Contractors• SLHS New Arts Ed. = 29 Contractors• SLHS Library Expansion = 21 Contractors
7
Looking aheadLooking ahead——things to things to consider when exploring a consider when exploring a future bond measure for our future bond measure for our students and schoolsstudents and schools
Presented by Ruth Alahydoian, KNN Public FinancePresented by Ruth Alahydoian, KNN Public Finance
8
San Leandro Unified School District November 2010 Bond Election Board Workshop | page 10
General Obligation (G.O.) General Obligation (G.O.) Bond BasicsBond 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)
9
20092009--10 Tax Rates for Alameda County Schools10 Tax Rates for Alameda County Schools
11
Source: Alameda County
2009-10 Tax Rate per
District $100,000 AV
Albany USD $170.90
Berkeley USD 150.20
Piedmont USD 146.50
New Haven USD 131.70
Oakland USD 125.90
Castro Valley USD 102.30
San Lorenzo USD 86.80
Newark USD 86.50
Dublin USD 81.60
Pleasanton USD 80.90
San Leandro USD 77.10
Hayward USD 71.00
Livermore Valley JUSD 67.40
Alameda USD 49.80
Fremont USD 43.40
Sunol Glen USD 38.50
Emeryville USD 13.20
10
Authorization AmountAuthorization Amount
San Leandro Unified School District November 2010 Bond Election Board Workshop | page 12
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 CASEAuthorization Amount: $40 MillionAssumptions:
Tax Rate Target per $100,000 AV $20
Interest Rate Paid on Bonds 6%
Assessed Value Growth Year to Year:
2010-11 -2%
2011-12 0%
2012-13 1%
2013-14 2%
2014-15 and thereafter 3%
11
Alternate Assumptions Change Alternate Assumptions Change Authorization AmountAuthorization Amount
• Using different assumptions results in different authorization amounts.
San Leandro Unified School District November 2010 Bond Election Board Workshop | page 13
Changing Tax Rate Target:
Tax RateAuthorization
Amount
$15 $30 Million
$20 $40 Million
$25 $50 Million
$30 $60 Million
$60 $120 Million
Changing AV Growth Assumption:
AV Growth in 2014-15 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
12
What Happens if Assumptions are What Happens if Assumptions are Not Accurate?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
Tax Impact by Property TypeTax Impact by Property Type
San Leandro Unified School District November 2010 Bond Election Board Workshop | page 15
Commercial12%
Industrial22%
Other Non‐Residential
1%
SF Residential48%
Condominiums6%
Multifamiliy10%
Other Residential
0%
Proportional Distribution of Assessed Values by Land Use Type
14
Board RestrictionsBoard 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
Schedule for November 2, 2010 ElectionSchedule for November 2, 2010 Election
San Leandro Unified School District November 2010 Bond Election Board Workshop | page 17
Time Frame/DeadlineIdentify 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 July 2010
Deadline to submit resolution to County - MUST be approved 88 days before election day August 6, 2010
Election campaign August - Nov 2010
ELECTION DAY November 2, 2010
16
What are the DistrictWhat are the District’’s facilities s facilities needs, now and in the future? needs, now and in the future?
17
Potential SLUSD Bond Potential SLUSD Bond Projects to ConsiderProjects to Consider
18
Burrell Sports FieldExisting 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
San Leandro Unified School District November 2010 Bond Election Board Workshop | page
San Leandro High School PoolExisting Challenges
•Pending Health Department Closure 2012•Noncompliance Safety Issues
Pool Specific Filtration & Chlorination SystemsUneven & Deteriorated Pool DeckCool Water Showers
•Mitigation OptionsRepair 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
20
San Leandro Unified School District November 2010 Bond Election Board Workshop | page
Estimated Cost of a Bond Election
Campaign costs covered by the Committee - $60,000 - $70,000Committee will fundraise and build their own budgetSome funds available from prior campaign
Election costs covered by the District estimated at $60,000Last November 7, 2006, General Election - Cost was $37,626.88 November election is least costlyBilled for actual cost onlyAlready paying for Board election in November 2010
22 21
San Leandro Unified School District November 2010 Bond Election Board Workshop | page
Alternatives to November 2010Alternatives to November 2010
‘Proposition 39’ elections must be held in even-numbered years.
Next available election dates:February 7, 2012June 5, 2012November 6, 2012
22
Questions and DiscussionQuestions and Discussion
23
top related