Board of Education | February 23, 2021 New Vista Bond Project

New Vista Bond ProjectNew Vista Working Group

Board of Education | February 23, 2021

2New Vista Bond Project

GoalsEstablish working group to discuss and recommend one of the following options:

● Promises made/promises keptMove forward with the master plan scope of work and budget

● Expand scope to correct deficiencies and modernize the school Could be a phased approach

● New construction to replace existing facility

3New Vista Bond Project

Team MembersSchool LeadershipKirk Quitter, Principal

TeachersMegan CarlsonAlex Robertson

StudentsBeau ChilsonHanna Van HeusdenSerafima Zavorotny

Tatia Prieto, Prismatic Services

Parents/Community MembersSusie Brantley (former teacher)Gordon Byrn (CBOC)Eric IronsideMichael JohanDiana Fields (CBOC)Celeste Landry (CBOC)Dawn ReinfeldKaren Zeid

District StaffRob Price, Asst. Superintendent of Operational ServicesSam Messier, Assistant Superintendent, NW Network Ginny Vidulich, Executive Director, NW NetworkScott Stevens, Exec. Director of Bond ConstructionSusan Cousins, Communications SpecialistGlen Segrue, Sr. PlannerMandy Redfield, Project Manager

Architects (HCM)Adele WillsonJosh Francis

4New Vista Bond Project

Meeting Summary

1 2 3

Jan. 11, 2021 ● Recap of visioning ● Respond to working group questions● Review potential program for new

school● Considered four options with matrix● Discussed options

Jan. 25, 2021● Reviewed matrix of 4 options● Examine project costs and

timeline● Explore funding options● Consensus recommendation

Feb. 23, 2021 Board Work Session

Recommendation

Dec. 14, 2020● Project history and overview● Current site and facility condition● Visioning and goal setting● Review overall timeline

55

NEW VISTA BOND PROJECT

Background/Existing Conditions

6New Vista Bond Project

Site Analysis

7New Vista Bond Project

Site DeficienciesSite structural issues create student hazards.

Significant asphalt deterioration and replacement needed

8New Vista Bond Project

Structural DeficienciesWater infiltration issues around building perimeter

Cracking in structural elements

Groundwater causing structural issues along west edge of building

9New Vista Bond Project

Numerous locations of brick movement, separation and cracking around the building - interior and exterior

Significant structural issues include sagging floor, separation of brick

Structural Deficiencies

10New Vista Bond Project

Numerous ADA issues around building

Interior Deficiencies

Aging mechanical system

Poor lighting quality throughout buildingLack of thermal comfort for learning due to single pane, clear glazing windows

11New Vista Bond Project

STEM program in existing locker room & toilet room

Interior Deficiencies

Unused space in existing locker room (storage)

Existing spaces do not allow space for desired program needs.

1212

NEW VISTA BOND PROJECT

Visioning

New Vista Bond Project 13

Why is New Vista an Important School for BVSD?

● Allows for student choice● Alternative and unique programs & learning

opportunities● Allows for innovation and collaboration in ways

that traditional schools don’t● Deep ties and integration with community● Embraces equity

13

New Vista Bond Project 14

What spaces or features are important to the educational program at NVHS?

● Flexible spaces of multiple scales that promote collaboration and community

● Space for presentation and performance, large and small

● STEM and project based learning focused spaces & equipment

● Spaces that are sized appropriately for the program● Outdoor learning spaces

14

15New Vista Bond Project

New Building Program

Total Gross Area Needed: 64,708 SF

Existing Building: 78,000 SF

1616

NEW VISTA BOND PROJECT

Options

17New Vista Bond Project

Options Overview

Proceed per original bond scopePlus additional structural issues and drainage improvements

Extensive renovationPlus original bond scope of work

New buildingOn current site

New buildingOn a new site

1

2

3

4

18New Vista Bond Project

Option 1 | Existing 2014 BVSD Bond Master Plan ScopeFACILITY CONDITION

● Exterior building improvements such as repair/replace windows and doors, repair masonry and concrete

● Replace roof● Restroom renovations including ADA● Replace interior doors● Asbestos abatement● Improvements to interior finishes such as carpet,

flooring, ceiling tiles and paint● Repair/replace HVAC system● Fire protection system improvements● Electrical system improvements● Repair/replace fixtures such as shelving and

bleachers● Site improvements such as drainage and paving● Install building-wide air conditioning● Audio enhancement for every classroom

PROGRAM COMPATIBILITY ASSESSMENT● Remodel auditorium● Provide changing room/shower

SAFETY AND SECURITY● Install electronic security controls● Install camera/intercom security system● Replace/add exterior cameras● Install interior security cameras

SUSTAINABILITY● Conduct retro-commissioning and repairs● Upgrade HVAC controls● Upgrade lighting● Replace old boiler with condensing boiler

INNOVATIONNew Vista High School has received $800,000 in additional funds to implement facility improvements that support innovative teaching methods.

19New Vista Bond Project

Option 2 | Extensive RenovationMaster Plan RenovationCentral Building Area

20New Vista Bond Project

Option 3 | Build New on Existing SitePotential Sites

21New Vista Bond Project

Option 4 | Build New on Different Site

?

22New Vista Bond Project

Options Matrix

23New Vista Bond Project

Cost ComparisonIndustry standard when renovation costs exceed 75% of new construction costs

2424

NEW VISTA BOND PROJECT

Financing Options

25New Vista Bond Project

Financing Options● Cash Funding

“Pay as you go”

● Bonded DebtVoter authorized debt financing

● Certificates of ParticipationLease-purchase agreement

26New Vista Bond Project

Cash Funding● Reserves typically identified for specific purposes

● Fund balance from unspent resources

● Sale of real estate from underutilized or surplus assets

● Save now to spend later by setting aside annual funding

27New Vista Bond Project

Bonded Debt● Restricted by law with specific uses

○ Major repairs/renovations to existing facilities○ Additions to facilities○ New facilities○ Technology

● Voter approval required via November election

● Debt payments made via revenue from a dedicated property tax mill levy

28New Vista Bond Project

Certificates of Participation● Tax exempt government security for specific uses

○ Improve or construct buildings○ Purchase equipment

● Does not require voter approval

● Debt payments made with operating dollars from the General Fund

29New Vista Bond Project

Cash Funding● Pros

○ Avoids interest and issuance costs○ Immediate use if repayment resources are available

● Cons○ Districts are not funded for capital improvements or capital investments - using cash forgoes other

district investments○ Mechanism for large capital investments provided for in statute is capital bonding○ Can take a long time to save the funding for a multi-million dollar project○ Typically operating dollars

30New Vista Bond Project

Bonded Debt● Pros

○ Typically lower interest rates○ Lower cost of issuance as a percentage - larger total issuance○ Dedicated funding stream from a property tax mill levy○ Longer repayment schedule lowers annual costs - typically 25 to 30 years.

● Cons○ Longer timeline and implementation process

● Voter approval via a November ballot timeline constraints● Typically involves a major district-wide capital planning process and longer decision making

process

31New Vista Bond Project

Certificates of Participation● COP Pros

○ Shorter timeline and implementation process - does not require voter approval via a November ballot

○ Can be refinanced with bonded debt

● COP Cons○ Repayment via operating dollars - no property tax funding stream○ Potentially slightly higher interest rates○ Higher costs of issuance as a percent of funding○ Collateral requirement○ Higher annual payment structure due to a typically a shorter debt repayment schedule of 10 to

20 years

32New Vista Bond Project

Bond Financing Taxpayer Estimated ImpactDescription Commercial Residential

Gross Assessed Value $1,000,000 $500,000

Assessment Rate 29.00% 7.15%

Net Assessed Value $290,000 $35,750

Assumed Interest Rate 3.1% 3.1%

Necessary Mills per $10M (30 yrs) 0.078 0.078

Annual Debt Payment per $10M $0.6M $0.6M

Annual Taxpayer Cost per $10M $22.62 $2.79

Annual Taxpayer Cost $30M $67.86 $8.37

33New Vista Bond Project

COPs Financing General Fund Estimated Impact

Description Amount

Amount Borrowed $30M

Assumed Interest Rate Rate 3.1%

Annual Payment - 10 Yrs $3.4M

Annual Payment - 20 Yrs $2.1M

34New Vista Bond Project

Capital Planning & Financing: Next Steps● Determine timeline of design and construction relative to financing

needs

● Determine the need for a district capital improvements planning committee for district-wide capital needs

35New Vista Bond Project

New Vista Bond Project Timeline

36New Vista Bond Project

Recommendation

The working group unanimously supported building a new building on the existing site.

Proceed per Original Bond

Scope

Extensive Renovation/

Program Improvements

New Building on Current Site

New Building on New Site

Which option is your recommendation to the Board of Education?

3737

NEW VISTA BOND PROJECT

Discussion