Logan ‐ Hocking Local School District Moody’s Rating Presentation July 16, 2015
AGENDA Opening and Introductions – Mike Burns Community Overview ‐ Stephen Stirn Local & Regional Economy ‐ Stephen Stirn School District Overview – Stephen Stirn District Assessed Values – Paul Shaw Financial Overview – Paul Shaw Debt Overview – Mike Burns Summary & Closing – Mike Burns 2
COMMUNITY OVERVIEW State & School District Map US Rt 33 3
COMMUNITY OVERVIEW Local Amenities Close Proximity to Larger Cities City of Lancaster (20 Minutes) City of Athens (30 Minutes) City of Columbus (50 Minute Drive) Tourism – Weekend Getaways Hocking Hills State Parks ‐ #1 Tourist attraction in Ohio Over 3 Million visitors annually, one of the nation’s largest attractions Antique shops, vineyards, traditional dining and campgrounds Hiking / Ziplining / Scenic Air Tours / Winery / Horseback Riding / Canoeing Local Amenities in Close Proximity to the District Shopping and restaurants Hocking Mall Shopping Center Logan Plaza Shopping Center River Valley Mall College & Professional Sports 4
COMMUNITY OVERVIEW Affordability of District 2013 US Census Bureau Estimates Logan ‐ Hocking LSD Hocking County Ohio Total Housing Units 11,360 13,349 5,124,221 Owner Occupied (as % of Occupied) 76.10% 76.20% 67.50% Median Value of Owner Occupied Homes Estimate $109,700 $109,800 $130,800 Total Units Constructed prior to 1940 19.80% 20.30% 21.10% Median Family Income Estimate $52,891 $52,837 $61,371 Per Capita Income Estimate $21,543 $21,037 $26,046 Low Property & Income Tax Compared to School District's in Fairfield County $3,500 $3,000 $3,294 $2,837 $2,813 $2,500 $2,565 $2,554 $2,499 $2,365 $2,324 $2,000 $1,500 $1,785 $1,000 $500 $0 Logan ‐ Hocking LSD Amanda ‐ Clearcreek LSD Lancaster CSD Berne ‐ Union LSD Walnut Twp LSD Bloom ‐ Carroll LSD Liberty ‐ Union ‐ Thurston Fairfield Union LSD Pickerington LSD LSD *Assumes $110,000 median home value and $53,000 earned taxable income Source: US Census Bureau and Ohio Municipal Advisory Council 5
COMMUNITY OVERVIEW Growth in District Logan ‐ Hocking LSD Total Population 30,000 25,000 24,026 22,796 20,000 20,530 20,030 15,000 10,000 5,000 0 1980 1990 2000 2010 Steady population growth of 20.0% over the last 30 years Source: US Census Bureau and Ohio Municipal Advisory Council 6
LOCAL & REGIONAL ECONOMY Colleges and Universities Nearby Institutions Provide Employment and Excellent Education Opportunities Ohio State University Ohio University Hocking College Denison University Capital University Columbus State Community College Franklin University 7
LOCAL & REGIONAL ECONOMY Healthcare & Assisted Living Healthcare Facilities Hocking Valley Community Hospital (10 Minute Drive) Full service hospital with emergency, urgent, surgical, inpatient and outpatient care About 100 beds in the existing facility Fairfield Medical Center (20 Minute Drive) 222 bed full service and general acute health facility Diley Ridge Medical Center (35 Minute Drive) 85,000 square foot facility including emergency and diagnostic services Ohio Health Pickerington (45 Minute Drive) New medical campus that opened in June, 2015 Nationwide Children’s Hospital (50 Minute Drive) One of the largest pediatric hospitals in the United States Inpatient, Outpatient and Surgical procedures and over 420 beds Ohio State University Wexner Medical Center (50 Minute Drive) 900 bed hospital, Cancer Center and various other facilities Nursing Homes & Assisted Living Facilities Arcadia Acres Nursing Home Kindred Transitional Care and Rehabilitation 8
LOCAL & REGIONAL ECONOMY Diversified Employment Opportunities in Region Employer County Industry Employment Ohio University Athens Education 4,169 Glatfelter Ross Manufacturing 2,300 Fairfield Medical Center Fairfield Healthcare 1,871 U.S. Government / Veterans Affiars Ross Government 1,300 Adena Medical Center Ross Healthcare 1,218 RCI / CCI Ross Government 1,021 Paccar / Kenworth Truck Co. Ross Manufacturing 1,003 Pickerington Local School District Fairfield Education 922 Fairfield County Fairfield Government 837 Anchor Hocking Fairfield Manufacturing 800 Lancaster City Schools Fairfield Education 684 O'Bleness Memorial Hospital Athens Healthcare 682 Athens County Government Athens Government 570 Tyonagawa Seiki Co. / YSK Corp. Ross Manufacturing 499 Southeastern Correctional Insituition Fairfield Government 465 Logan ‐ Hocking Schools Hocking Education 448 Canal Winchester Schools Fairfield Education 370 NIFCO Fairfield Manufacturing 365 City of Lancaster Fairfield Government 363 Ralston Foods Fairfield Manufacturing 362 Athens City School District Athens Education 359 Hocking County Government Hocking Government 322 Wal ‐ Mart Athens Retail 315 Hocking Valley Community Hospital Hocking Healthcare 299 Source: County CAFRs 9
LOCAL & REGIONAL ECONOMY Employment Opportunities in District Employer Nature of Business Number Locking ‐ Hocking Local School District Education 448 Hocking County Government Government 322 Hocking Valley Community Hospital Health Care 299 Walmart Retail 261 Amanda Manufacturing Manufacturing 217 Smead Manufacturing Manufacturing 174 Kindred Transit Care and Rehab ‐ Logan Health Care 114 Kilbarger Construction 110 Kroger Grocery 106 Ohio EPA ‐ Logan Facility Environmental 89 General Electric Manufacturing 77 Source: District 2014 CAFR 10
LOCAL & REGIONAL ECONOMY Key Employers within District Variety of Businesses Located within the District Smead Manufacturing Manufacturer and supplier of organizational office supplies Recently decided to move all order processing to the Logan facility creating 30 new jobs Only manufacturer east of the Mississippi for Smead General Electric Glass manufacturing plant, established in Logan in 1959 Rocky Boots Manufacturer of hunting, duty, western and Rocky work boots Warehouse located within the District Hocking Valley Community Hospital Full service hospital with emergency, urgent, surgical, inpatient and outpatient care S&G Manufacturing Group Display manufacturer for restaurants Wal ‐ Mart Supercenter located within the District Government Logan ‐ Hocking Local School District Hocking County 11
LOCAL & REGIONAL ECONOMY No Concentration of Any One Tax Payer Current Taxes Personal Rank Taxpayer Name Real Estate % Total AV Payable Property 1 Columbia Gas Transmission $1,588,226 $373,440 $27,501,140 5.73% 2 Ohio Power Co. $727,599 $48,180 $12,721,990 2.62% 3 South Central Power $164,184 $11,460 $2,883,490 0.59% 4 Columbia Gas of Ohio $116,049 $12,190 $2,020,660 0.41% 5 Wal Mart Real Estate $112,392 $2,415,640 $0 0.49% 6 Smead Manufacturing $95,601 $2,054,770 $0 0.42% 7 AEP Ohio Transmission $70,519 $0 $1,211,670 0.24% 8 Rocky Brands Inc $63,115 $1,332,170 $0 0.27% 9 Camp O Investments $56,225 $1,208,450 $0 0.24% 10 Amanda Bent Bolt Co. $51,690 $1,110,990 $0 0.22% 11 GE Lighting Inc. $45,318 $974,030 $0 0.20% 12 Inn at Cedar Falls $24,211 $527,030 $0 0.10% 13 Cedar Grove Retreat $13,523 $328,900 $0 0.06% 14 Bolton Properties Ltd $12,388 $301,370 $0 0.06% 15 Erimark Properties $11,749 $285,780 $0 0.05% Source: Ohio Municipal Advisory Council. Does not include entities in overlapping subdivisions outside the primary county. 12
LOCAL & REGIONAL ECONOMY Potential Future Developments Growth will Continue within the District Due to: Part of the Columbus MSA Location – “Gateway to Ohio’s Scenic Wonderland” Available Land for Development Hocking County Community Improvement Corporation Active CIC encouraging new job growth in the County 67 Acre Logan ‐ Hocking Commerce Center Park Hocking College Energy Institute Active Chamber of Commerce Diverse Workforce –skilled 18,000 member workforce Established Businesses, Manufacturing Base, Healthcare Facilities, and Tourist Attractions Downtown Revitalization Leach Xpress Pipeline Under construction and will add $5.9 Million in new property taxes to Hocking County. 13
LOCAL & REGIONAL ECONOMY Commercial & Manufacturing Developments Recent Commercial & Manufacturing Developments Recent Expansion of Hocking College Energy Institute Only two year college in Ohio for advanced energies LEED certified Building Amanda Manufacturing 69,000 square foot expansion worth over $5 Million New manufacturing and office space 30 jobs created Logan Coatings Coats parts for Amanda Manufacturing Production started in January 2015 with 49 jobs created 14
LOCAL & REGIONAL ECONOMY Residential Developments New Residential Developments Fewer subdivisions due to large lot sizes Cluster of homes being constructed throughout District Scott Creek Development Homes ranging from $120,000 to $175,000 85 Residential Lots Scenic country feel with close access to local amenities Proposed Phase II adjacent to current development Brad ‐ Mer Acres Homes starting at $300,000 Few lots remaining Bowers Heights Few lots remaining 15
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