Virginia Reinhardt Elementary Bond Election
The Virginia Reinhardt Elementary school in Rockwall, Texas is considering a bond election to fund construction, renovation, and equipment needs. The proposal aims to raise $256,820,000 through bond issuance for school building projects. The decision involves a choice between renovating the existing facilities or rebuilding from scratch, each option offering distinct benefits and considerations.
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Presentation Transcript
Virginia Reinhardt Virginia Reinhardt Elementary Elementary Exploratory Options Exploratory Options Renovation vs Rebuild Renovation vs Rebuild
Bond Election Order Bond Election Order SHALL the Board of Trustees of the Rockwall Independent School District in Rockwall, Kaufman and Collin Counties, Texas be authorized to issue bonds of the District in the principal amount of $256,820,000 for the construction, renovation, demolition, acquisition and equipment of school buildings in the District, the purchase of necessary sites for school buildings and the purchase of new school buses; and shall there be pledged and levied, assessed and collected annually ad valorem taxes on all taxable property in the District sufficient, without limit as to rate or amount, to pay the principal of and interest on said bonds and the costs of any credit agreements executed in connection with the bonds; said bonds to mature serially or otherwise not more than thirty (30) years from their date, to be issued in one or more series at any price or prices, and to bear interest at such rate or rates (fixed, floating, variable or otherwise and not to exceed the maximum rate permitted by law at the time of issuance of the bonds) as in its discretion the Board of Trustees shall determine?
Construction Budget Construction Budget Reinhardt ES 2015 Bond Plan 2017 RES Renovation While Occupied New Elementary Utilizing Former Dobbs ES Facility as Temp RES Construction Time 18 Months 14 Months Selective Demolition or entire site or RES $35,000 $250,000 Estimated (Does not include 2015 IBC Tornado Shelter *Addition/Renovation to RES 44,700sf $18,879,250 $0 Requirements) Construction of New ES $0 $21,568,085 2015 IBC Tornado Shelter Requirements $1,024,050 $1,024,050 Temporary Portables $480,000 $0 New Parking Lots 128 Spaces $640,000 Cost of Dobbs ES Temporary Parking $0 $525,000 $18,486,960 *includes demolition in remodel of RES Note: architect fees not included $21,058,300 $23,367,135 -$2,308,835
Benefit of Renovation vs Rebuild Benefit of Renovation vs Rebuild Renovation VS Rebuild Facility Renovation life of 20- 25 years 18 Month Scheduled Project 3 Semesters Foundation, plumbing, electrical, structural, exterior unknown costs New Facility Life of 50+ Years 14 Month Scheduled Project 2 Semesters Building/Operational Efficiencies Improved Site Stacking and Parking
RES Renovation While RES Renovation While Occupied Occupied
