Facilities Committee Recommendation for School Building Project
"Explore the recommendations of the ad hoc facilities committee for a school building project, including scope, timing, estimated bond request, and proposed bond structure. Get insights on construction costs, state assistance, local share, and property tax rates. Stay informed about the development plans and budget adjustments."
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Presentation Transcript
AD HOC FACILITIES COMMITTEE RECOMMENDATION
THE AD HOC COMMITTEE MEMBERS Standing, from left: Bill Woodard, Jerry Huston, Noel Johnson, Tina Cayton, Luke Miller, Randy Sorensen, Paul Cline, Nick Massie, Michael Green. Seated, from left: John Shoup, Ellie Gillaspie, Ben Fredricks, Nancy Trevina, Don Stuart.
SCOPE RECOMMENDATION Construct 130,000 s.f. High School Building Open for 850-900 students Build Core for 1100-1200 students Build what we NEED, not what we want Upgrade rather than replace current Auditorium and Beaver Stadium Plan new site for future expansion Update/upgrade current facilities WIS/WMS/WHS upgraded to accommodate transition of younger students Remodel Replace aging multi-purpose gym at Yale
TIMING & PROCESS RECOMMENDATION GET SERIOUS about what we are building Select and architect and have a clear plan for voters. Hire an Architect by January 9th Hire a planning consultant NOW to do preliminary design and budget work. Present the bond request to voters for April 17 election. February date desirable BUT will constrain ability to get good information to voters. April will allow for a quality information to be developed and communicated.
ESTIMATED BOND REQUEST Construction Costs (includes construction costs, development costs, premiums for wetlands, and off-site costs) Estimated State Assistance ( State Match ) Local Share Other District-wide projects, contingency, and inflation allowance Total: Total Recommended Bond Request $ 47,523,302 $ 11,000,000 $ 36,523,302 $ 3,338,083 $ 39,861,385 $ 39,875,000 This budget is preliminary and may be adjusted as the consultant reviews the projects more closely.
PROPOSED BOND STRUCTURE Woodland Public Schools Historic and Projected PropertyTax Rates $39.650 Million Bond Authorization Spring 2012, 25 Year Issue $8.00 Actual Projected $7.00 $6.00 ($/$1,000 Assessed Value) $4.73 $5.00 Tax Rates $3.46 $4.00 $3.00 $2.00 $1.00 $- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2014 Bonds 2012 Bonds Existing Bonds Operating Levy
PROPOSED BOND STRUCTURE Tax Rates Bond Tax Rates Existing 2012 Bonds Bonds 1.07 $ $ 1.27 1.18 1.22 1.25 1.22 0.73 0.76 0.77 0.77 0.23 0.23 0.24 0.24 0.24 0.24 0.24 0.25 - - - - - - - - - - - - - - - Total Tax Rate $ Calendar Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2014 Bonds $ Total Bonds $ Operating Levy $ - - - - - - - - - - - - - - 1.07 1.27 1.18 1.22 1.25 1.22 2.06 2.06 2.06 2.06 2.05 2.05 2.05 1.77 1.77 1.77 1.77 1.77 1.78 1.78 1.77 1.28 1.28 1.28 1.28 1.28 1.28 1.28 1.28 1.28 1.28 1.28 1.28 1.91 1.85 1.84 2.03 2.21 2.37 2.52 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.67 2.98 3.12 3.02 3.25 3.46 3.59 4.58 4.73 4.73 4.73 4.72 4.72 4.72 4.44 4.44 4.44 4.44 4.44 4.45 4.45 4.44 3.95 3.95 3.95 3.95 3.95 3.95 3.95 3.95 3.95 3.95 3.95 3.95 Bond Sales Sale Date 6/1/2012 12/1/2014 12/1/2017 Amount $20,000,000 19,650,000 0 1.33 1.30 0.59 0.61 1.01 1.01 1.01 0.62 0.61 0.61 0.61 0.61 0.85 0.85 0.85 0.77 0.77 0.77 0.77 0.77 0.77 0.78 0.77 0.78 - - - Total $39,650,000 0.70 0.68 0.80 0.80 0.80 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 1.28 1.28 1.28 Tax RateChange for Bonds 2011-2013 0.81 Taxpayer Cost Home Value Cost per Year Cost per Month Net Monthly Cost (After Federal Tax Deduction) (1) $200,000 $162.00 $13.50 $9.72 Notes: Rates are in $ per $1,000 of assessed value of a property, as determined by the County Assessor's Office (1) Net Monthly Cost is the cost of the tax rate increase after allowing for the Federal Income deduction for property taxes, using a tax rate of 28%.
