Measure J Projects Series A Sale August 11, 2016 1 Domino Effect - PowerPoint PPT Presentation

Fairfield-Suisun Unified School District August 11, 2016, Governing Board Meeting Item #16B Board Meeting Agenda Measure J Projects Series A Sale August 11, 2016 1

Domino Effect Projects must be prioritized by evaluating the entire bond program and the complexity of each project 2

Source Levels – Slide 8 From April 14, 2016, Presentation Level 1 – Local Bond Funding • Available Bond Funding $ 249M* Level 2 – Other Revenue Sources • $ 15,724,995 State Modernization Eligibility $ 9,953,750 • State New Construction Eligibility $ 1,767,801 • Prop 39 $ - 0 - (None Currently Allocated) • Other Local Revenue Sources TOTAL Approx. $27.5M Level 3 – No Current Funding Source Identified (Approximately $39 M in projects identified) Note*: $166.75 M 2/3 of the program budget allocated to projects in 2016 dollars. Remaining 1/3 to be used as a cost allowance to cover escalation and overall program contingency. 3

Measure J - $249 Million T otal of $249 Million 6.82% Level 1 Priority 24.79% Issuance Costs Escalation Costs Contingency/Unknowns 68.15% 0.24% All costs are based on best available estimates in 2016 dollars and are subject to change given market conditions and project scope 4

Bond Sales $249 Million Sold by Series Series A Series C $85,015,073 $84,007,082 Series A Series B Series C Series B $79,977,845 5

Priorities for Series A Sale Projects  Sites eligible for state funding  Anna Kyle, Dan O Root, Fairview, KI Jones, Oakbrook, Sheldon, Suisun Elementary, Suisun Valley, T olenas, Fairfield High  Measure C projects not completed  Grange cafeteria, Fairview library  Quick start projects  Suisun Valley parking lot  Safety concerns  High schools track and fields 6

Overview of Series A Sale  $84M for Series A  $6.7M for contigency  Interim housing and unknown conditions  $29.4M for planning  Planning includes: architectural design, Department of Toxic Substances Control (DTSC) and California Department of Education approvals, preliminary tests including geotechnical and geohazard testing, topographical surveys, California Environmental Quality Act (CEQA) studies and other requirements associated with design development and plan approval  $47.9M for construction  Construction includes: DSA Inspector of Record (IOR), special inspections and material testing, construction management and physical construction 7

PRIORITY LEVEL ONE PROJECTS - SERIES A BOND SALE Estimated Estimated Costs Costs ELEMENTARY SCHOOLS Anna Kyle* Planning Costs for Future Construction $4.2M Sheldon* Planning and Construction Costs: Modernization of Existing Classrooms B. Gale Wilson* Planning and Construction Costs: Existing Building Systems & Toilets Modernization of Existing Classrooms New Kitchen Existing Building Systems & Toilets New Library/Media Center Safety & Security Safety & Security Reconfigure & Expand Main Office Reconfigure & Expand Main Office Technology Infrastructure $6.2M Technology Infrastructure $9.9M Dan O Root* Planning Costs for Future Construction $1.2M Suisun Elementary* Planning Costs for Future Construction $1M Fairview* Planning and Construction Costs: Suisun Valley* Planning and Construction Costs: Modernization of Existing Classrooms New Parking Lot $800,000 Existing Building Systems & Toilets New MPR/Food Service Building Tolenas Elementary* Planning and Construction Costs: Reconfigure/Expand Library Media Center Modernization of Existing Classrooms Safety & Security Existing Building Systems & Toilets Expand Existing Parking Lot Technology Infrastructure $1.2M Relocate Main Office to Campus Front Door Technology Infrastructure $22M MIDDLE SCHOOLS Grange Planning and Construction Costs: KI Jones* Planning and Construction Costs: New Band/Music Room Modernization of Existing Classrooms New Multi-Purpose / Food Service Building $7.6M Existing Building Systems & Toilets New Lunch Shelter Green Valley Planning and Construction Costs: Reconfigure/Expand Library/Media Center Safety & Security Improvements (Fencing) 450,000 Safety & Security New Parking Lot HIGH SCHOOLS Reconfigure & Expand Main Office Fairfield* / Sem Yeto Planning Costs for Future Construction Technology Infrastructure $6.7M Safety & Security Improvements (Track & Field) $9.6M Oakbrook* Planning and Construction Costs: Rodriguez Planning and Construction Costs: Modernization of Existing Classrooms Safety & Security Improvements (Track & Field) $1.5M Existing Building Systems & Toilets Add Stage and New Kitchen to MPR TOTAL: $77.35M New Lunch Shelter Safety & Security Planning Costs Include: Architectural Design, Department of Toxic Substances Reconfigure Main Office Control and California Department of Education approval; geotechnical and geohazard Technology Infrastructure $5M testing; topographical surveys and other studies associated with design development * = Sites currently eligible for state modernization funds 8% Cost for Contingency Reserve Dollars rounded based on current estimated costs 8

Timeline  April 28, 2016  Approved prioritized project list for Measure J Bond Program  June 7, 2016  Election  July 14, 2016  Adopted Resolution certifying election  Reviewed first bond sale (Series A) project priority list  August 11, 2016  Review of first bond sale (Series A) - second review  Adopt resolutions to request tax levy and Preliminary Official Statement (POS) for Series A issuance  August 25, 2016  Adopt resolution establishing a Citizens’ Oversight Committee  Appoint Citizens’ Oversight Committee members 9