aspen view academy request for cop, property
DESCRIPTION
Aspen View Academy Request for COP, Property. Board of Education Meeting Tuesday, June 19, 2012. Pat McGraw , Development and Innovation Officer Bill Moffitt , Chief Operating Officer. AVA Request for Certificate of Participation. Up to $15.5 million dollars. - PowerPoint PPT PresentationTRANSCRIPT
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DOUGLAS COUNTY SCHOOL DISTRICT
Aspen View AcademyRequest for COP, Property
Board of Education MeetingTuesday, June 19, 2012
Pat McGraw, Development and Innovation Officer
Bill Moffitt, Chief Operating Officer
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DOUGLAS COUNTY SCHOOL DISTRICT
AVA Request for Certificate of Participation
Up to $15.5 million dollars
11.70 M – 13.20 M Building Fund
.80 – 1.1 M 1st Year’s Principal & Interest
.80 – 1.1 M One Year Principal & Interest Reserve
.25 - .35 M Cost of Issuance
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DOUGLAS COUNTY SCHOOL DISTRICT
2012 Certificates of Participation Parameters Resolution
a. Total principal amount of rental payments to be received by the District from the Trustee under the Site Lease shall not be less than $12 M
b. Site Lease Term shall not exceed the Lease Term by more than 10 years
c. Aggregate principal amount of the base rentals shall not exceed $15.5 M
d. Lease term shall end no later than June 30, 2037
e. Lease shall be subject to prepayment at the option of the District no later than January 15, 2023 without prepayment penalty
f. Purchase price of Certificates shall not be less than 98%
g. Maximum amount of the base rentals payable in any year shall not exceed $1.5 M
h. Maximum net effective interest rate on the interest component of the base rentals shall not exceed 5.00%
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DOUGLAS COUNTY SCHOOL DISTRICT
AVA Request for Property
Low Meadows Filing #18
• Long Range Planning Recommendation
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DOUGLAS COUNTY SCHOOL DISTRICT
Staff Recommendation
Conditional approval for both the COP and Property Requests.
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DOUGLAS COUNTY SCHOOL DISTRICT
Staff Conditions for Approval
Aspen View Academy partners with the Douglas County School District to address capacity concerns utilizing a weighted lottery, consulting on an annual basis.
All Aspen View Academy facility plans will be reviewed and approved by DCSD staff and appropriate governmental entities as applicable.
Douglas County School District will retain ownership of the property.
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DOUGLAS COUNTY SCHOOL DISTRICT
Questions