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Master Plan 2015
Bainbridge Island School District
Master Plan :: Update
28 May 2015
SITE FINDINGS
BUILDING FINDINGS – ACCESSIBILITY (ADA), HEALTH, LIFE SAFETY
BUILDING FINDINGS – INFRASTRUCTURE
LIFE CYCLE REPLACEMENT AND REPAIR
EDUCATIONAL PROGRAM
LEGISLATIVE
Summary of Findings & Capital Costs
Elementary SchoolsSummary of Findings and Capital Costs
::Blakely::Ordway ::Wilkes
BLAKELY ELEMENTARY SCHOOLSUMMARY OF FINDINGS AND CAPITAL COSTS
1965 Original Building 34,054 GSF1989 Classroom Additions 7,242 GSF1993 Additions and Upgrades 1,009 GSFCovered Play Structure (@ 50%) 1,200 GSF
Description of ImprovementProject Cost
2015
Project Cost 2017 Bid
9% Escalation
Project Cost 2018 Bid
13.5% Escalation
SITE FINDINGS
Provide separate bus loop drive 224,378 244,572 254,669 Provide fire lane access 392,152 427,445 445,092 Extend fire loop and add 6 fire hydrants 383,482 417,996 435,253 Provide fire water storage - Allowance 336,567 366,858 382,004 Modify student load and unloading 118,308 128,956 134,280 Provide/modify ADA ramps/walkways 138,298 150,745 156,969 Replace all playground equipment to District Standards 183,582 200,104 208,366 Redesign and improve site storm water management 1,223,880 1,334,029 1,389,104
Site Findings Subtotal $3,000,648 $3,270,706 $3,405,735
BUILDING FINDINGS - ACCESSIBILITY (ADA) | HEALTH | LIFE SAFETY
Install fire sprinkler system 265,174 289,040 300,972Replace fire alarm system 122,388 133,403 138,910Replace intercom system 15,299 16,675 17,364
101,990 111,169 115,759Architectural Patch and Repair at Toilet Rooms 265,174 289,040 300,972Allowance to upgrade building to ADA compliance 431,469 470,301 489,717Abate building of asbestos containing material 302,028 329,211 342,802
Allowance to upgrade toilet fixtures to ADA compliance. Assume half of all plumbing fixtures replaced
Page 1
Architectural Patch and Repair for Abatement/Mech/Elect/Seismic 690,350 752,481 783,547Upgrade egress lighting 30,597 33,351 34,728Upgrade exterior emergency lighting 12,239 13,340 13,891Provide keyless entry (card) at exterior doors 71,393 77,818 81,031
0 0 0
0 0 0
0 0 0Replace floor and wall coverings (indoor air quality issue) 623,472 679,585 707,641
Building Findings - Health | Life Safety Subtotal $1,691,572 $1,843,814 $1,919,935
BUILDING FINDINGS - INFRASTRUCTURE
664,975 724,823 754,746
844,477 920,480 958,482Replace water heaters 81,592 88,935 92,607
81,592 88,935 92,607
24,478 26,681 27,782Upgrade lighting and controls per current energy code 713,930 778,184 810,311
Replace classroom HVAC unit ventilators (indoor air quality, noise, comfort issues) Entire School/Geothermal System Not Feasible $2,400,000 Plus Mark-ups
Replace plumbing fixtures - Cost includes half of all fixtures - See ADA Upgrades for remaining fixture replacement costs
Address hot water recirculation pumps for timely delivery of water to sinks and lavatories
Replace classroom HVAC unit ventilators (indoor air quality, noise, comfort issues) Classrooms Only/Conventional System Not Feasible $800,000 Plus Mark-ups
Provide lateral and shear support to meet current earthquake code requirements
Structural modifications and upgrades to support program and system modernizations - Cut & Patch Included in Accessibility
Replace classroom HVAC unit ventilators (indoor air quality, noise, comfort issues) Entire School/Conventional System Not Feasible $1,100,000 Plus Mark-ups
Page 2
Replace building boilers 509,950 555,846 578,793Replace building controls system 611,940 667,015 694,552Replace electrical distribution system to comply with code 326,368 355,741 370,428Upgrade technology to District standards 224,378 244,572 254,669
Building Findings - Infrastructure Subtotal $4,083,680 4,451,211 $4,634,976
LIFE CYCLE REPLACEMENT AND REPAIR
Allowance for renewal upgrades (casework, painting) 776,644 846,542 881,491
Life Cycle Replacement and Repair Subtotal $776,644 $846,542 $881,491
EDUCATIONAL PROGRAM
7,877,161 8,586,105 8,940,578
968,905 1,056,106 1,099,707
1,787,252 1,948,105 2,028,531Add two (2) Kindergarten classrooms with toilets (3,147 GSF) 3,127,013 3,408,445 3,549,160
5,508,990 6,004,799 6,252,703
Educational Program Subtotal $19,269,322 $21,003,560 $21,870,680
TOTAL SUMMARY OF FINDINGS
TOTAL SUMMARY OF FINDINGS $28,821,865 $31,415,833 $32,712,817
Collaboration and small group learning spaces 5,000 GSF Modernization and 4,950 GSF Addition
Add Music Room (size similar to Wilkes, relocate from portable) 1550 GSF
Add "cafeteria" (modular quality)
Add Cafeteria and modernize food service (size similar to Wilkes) Minor Renovate/Tie-in 6,852 SF
Page 3
Page 4
POTENTIAL LEGISLATIVE MEASURES TO REDUCE CLASS SIZE
McCleary Bill5 New Classrooms K-4 (5,780 GSF) 2,770,660 3,020,020 3,144,699
1,667,537 1,817,615 1,892,654
McCleary Bill Total $4,438,197 $4,837,635 $5,037,353
TOTAL SUMMARY OF FINDINGS AND McCLEARY BILL
TOTAL SUMMARY OF FINDINGS AND McCLEARY BILL $33,260,062 $36,253,467 $37,750,170
TOTAL POSTPONE, PATCH & REPAIR
TOTAL POSTPONE, PATCH & REPAIR 3,947,625 $4,302,911 $4,480,554
TOTAL OTHER CONSIDERATIONS
TOTAL OTHER CONSIDERATIONS $1,509,452 $1,645,303 $1,713,228
Storm Detention/Water Quality Upgrades (Additional to Summary of Findings)
Blakely Elementary School :: Project Capital Costs :: April 2015 *65,150 GROSS SQUARE FEET
Summaryof
Findings
Additions |Modernizations
New in LieuPostpone
Patch&
Repair
Other Considerations
$28,821,865 $38,156,500 $38,964,667 $3,947,625 $1,509,452
Summaryof
Findings
Additions |Modernizations
New in LieuPostpone
Patch&
Repair
Other Considerations
$33,260,062 $40,844,200 $41,534,455 $3,947,625 $1,509,452
McCLEARY BILL
* Estimates include “Soft” costs
ORDWAY ELEMENTARY SCHOOLSUMMARY OF FINDINGS AND CAPITAL COSTS
1978 Original Building 46,898 GSF1978 Covered Play Structure (@50%) 1,806 GSF1989 Addition 335 GSF1989 Kindergarten Building 2,904 GSFCovered Play Structure (@50%) 2,375 GSFTotal 54,318 GSF
Description of ImprovementProject Cost
2015
Project Cost 2017 Bid
9% Escalation
Project Cost 2018 Bid
13.5% Escalation
SITE FINDINGS
Revised Bus Load and Unloading 89,588 97,651 101,682Fire Lane Access 36,716 40,021 41,673Pedestrian Safety Improvements 54,055 58,920 61,352Additional Staff Parking 72,413 78,930 82,189Stormwater Management/Detention Vault 509,950 555,846 578,793Access Improvements 20,398 22,234 23,152
Site Findings Subtotal $783,120 $853,601 $888,841
BUILDING FINDINGS - ACCESSIBILITY (ADA) | HEALTH | LIFE SAFETY
Install fire sprinkler system 407,960 444,676 463,035Install fire pump 203,980 222,338 231,517Pump House/Enclosure 183,582 200,104 208,366Replace fire alarm system (fire alarm panel is outdated and discontinued) 142,786 155,637 162,062
511,347 557,369 580,379Allowance to upgrade building to ADA compliance (including access to the stage)
Page 1
Abate building of asbestos containing material 357,943 390,158 406,265Architectural Patch and Repair for Abatement/Mech/Elect/Seismic 818,156 891,790 928,607Upgrade exterior emergency lighting 17,338 18,899 19,679Teaching spaces suffer from lack of quality daylighting 550,746 600,313 625,097
1,046,982 1,141,211 1,188,325
Building Findings - Health | Life Safety Subtotal $4,240,821 $4,622,495 $4,813,331
BUILDING FINDINGS - INFRASTRUCTURE
636,418 693,695 722,334
848,557 924,927 963,112Add independent air conditioning to the Computer Lab 50,995 55,585 57,879
108,109 117,839 122,704Replace electrical distribution system to comply with code 387,562 422,443 439,883
20,398 22,234 23,152Upgrade technology & data closets to District standards 265,174 289,040 300,972
3,161,690 3,446,242 3,588,518101,990 111,169 115,759
Upgrade lighting and controls to current energy code 846,517 922,704 960,797152,985 166,754 173,638
Building Findings - Infrastructure Subtotal $6,580,395 $7,172,630 $7,468,748
Replace plumbing fixtures in health, kitchen, special needs and gym
Replace floor and wall coverings (floor leveling required over corridor exposed aggregate floors)
Replace HVAC system and controls (currently return air plenum is in ceiling space; not healthy)
Replace hardware at all exterior doors and provide keyless (card)
Provide lateral and shear support to meet current earthquake code requirements
Structural modifications and upgrades to support program and system modernizations
Master clock system is not integrated into the 2010 Bogen Quantum system rack
Upgrade classroom sound reinforcement and A|V to meet District
Page 2
LIFE CYCLE REPLACEMENT AND REPAIR
Replace exterior asphalt surfaces and concrete walkways 0 0 0511,347 557,369 580,379
Allowance for renewal upgrades (casework, painting) 920,425 1,003,263 1,044,682
Life Cycle Replacement and Repair Subtotal $1,431,772 $1,560,632 $1,625,062
EDUCATIONAL PROGRAM
5,899,289 6,430,225 6,695,693968,905 1,056,106 1,099,707
3,900,628 4,251,684 4,427,21362,826 68,480 71,307
Extend classroom walls to underside of roof deck 440,597 480,251 500,077
5,508,990 6,004,799 6,252,703
Educational Program Subtotal $16,781,235 $18,291,546 $19,046,701
TOTAL SUMMARY OF FINDINGS
Total Summary of Findings $29,817,343 $32,500,903 $33,842,684Total Postpone, Patch and Repair (2-3 years) $1,377,722 $1,501,717 $1,563,714
POTENTIAL LEGISLATIVE MEASURES TO REDUCE CLASS SIZE
McCleary Bill
2,770,660 3,020,020 3,144,699
2,310,074 2,517,980 2,621,933
McCleary Bill Total $5,080,734 $5,538,000 $5,766,633
Collaboration and small group learning spaces 5,000 GSF Modernization and 4,950 GSF Addition
Storm Detention/Water Quality Upgrades (Additional to Summary of Findings)
Add acoustic separation partition between the stage and the
Replace suspending ceiling tiles throughout
Add Cafeteria and modernize food service (size similar to Wilkes) (Convert existing covered play area 6,852 SF)
Add four (4) general classrooms (4 Class/Shared/Small Group)
5 New Classrooms K-4 (5,780 GSF)
Add "cafeteria" (modular quality)
Page 3
TOTAL SUMMARY OF FINDINGS AND McCLEARY BILL
TOTAL SUMMARY OF FINDINGS AND McCLEARY BILL $34,898,076 $38,038,903 $39,609,317
TOTAL POSTPONE, PATCH & REPAIR
TOTAL POSTPONE, PATCH & REPAIR $2,180,760 $2,377,029 $2,475,163
TOTAL OTHER CONSIDERATIONS
TOTAL OTHER CONSIDERATIONS $4,397,809 $4,793,612 $4,991,513
Page 4
Ordway Elementary School :: Project Capital Costs :: April 2015 *67,130 GROSS SQUARE FEET
Summaryof
Findings
Additions |Modernizations
New in LieuPostpone
Patch&
Repair
Other Considerations
$29,817,343 $38,090,158 $38,891,842 $2,180,760$1,377,722
$4,397,809
Summaryof
Findings
Additions |Modernizations
New in LieuPostpone
Patch&
Repair
Other Considerations
$34,898,076 $40,844,200 $41,718,608 $2,180,760 $4,397,809
McCLEARY BILL
*Estimates include “Soft” costs
WILKES ELEMENTARY SCHOOLSUMMARY OF FINDINGS AND CAPITAL COSTS
2013 Original Building 64,034 GSFCovered Play Structure (@50%) 1,320 GSFTotal 65,354 GSF
Description of ImprovementProject Cost
2015
Project Cost 2017 Bid
9% Escalation
Project Cost 2018 Bid
13.5% Escalation
POTENTIAL LEGISLATIVE MEASURES TO REDUCE CLASS SIZE
McCleary Bill
5 New Classrooms K-4 (5,780 SF) 3,305,966 3,603,503 3,752,272
McCleary Bill Total $3,305,966 $3,603,503 $3,752,272
TOTAL SUMMARY OF FINDINGS AND McCLEARY BILL
TOTAL SUMMARY OF FINDINGS AND McCLEARY BILL $3,305,966 $3,603,503 $3,752,272
Sakai Intermediate School
SAKAI INTERMEDIATE SCHOOLSUMMARY OF FINDINGS AND CAPITAL COSTS
1999 Lower Level 20,512 GSF1999 Upper Level 41,660 GSF1999 Covered Play Structure (@50%) 1,056 GSFTotal 63,228 GSF
Description of ImprovementProject Cost
2015
Project Cost 2017 Bid
9% Escalation
Project Cost 2018 Bid
13.5% Escalation
SITE FINDINGS
5,100 5,558 5,788Bus load and unload signage 5,100 5,558 5,788Drainage improvements 15,299 16,675 17,364Provide accessible paths to playfields and covered play 79,552 86,712 90,292
Site Findings Subtotal $105,050 $114,504 $119,231
BUILDING FINDINGS - ACCESSIBILITY (ADA) | HEALTH | LIFE SAFETY
Replace fire alarm system 177,463 193,434 201,420
40,796 44,468 46,30350,995 55,585 57,879
Upgrade intercom system to include call in switch for emergency use 20,398 22,234 23,152
Building Findings - Health | Life Safety Subtotal $289,652 $315,720 $328,755
Restripe student load and unload parking area
Provide interior relites to transfer daylight
Revise relief dampers at the south building wall to avoid letting cold air into the classrooms
Page 1
Page 2
BUILDING FINDINGS - INFRASTRUCTURE
Replace boilers 509,950 555,846 578,79330,597 33,351 34,728
191,741 208,998 217,626
30,597 33,351 34,72812,000 13,080 13,620
Replace 2 sewer pumps (nearing the end of their expected life) 18,000 19,620 20,430
Building Findings - Infrastructure Subtotal $762,885 $831,545 $865,875
LIFE CYCLE REPLACEMENT AND REPAIR
Replace vinyl surface on the gym operable wall 44,060 48,025 50,008285,342 311,022 323,863
Replace HVAC controls 846,517 922,704 960,797Upgrade lighting controls to meet current energy code 163,184 177,871 185,214
Life Cycle Replacement and Repair Subtotal $1,339,102 $1,459,621 $1,519,881
EDUCATIONAL PROGRAM
Provide acoustic wall panels at the Gymnasium 80,776 88,046 91,681
Educational Program Subtotal $80,776 $88,046 $91,681
TOTAL SUMMARY OF FINDINGS
TOTAL SUMMARY OF FINDINGS $2,577,465 $2,809,437 $2,925,423Total Postpone, Patch and Repair (2-3 years) $238,657 $260,136 $270,875
Rebalance hydronic flows (imbalance could be part of the above
Master clock system is not integrated into the 2010 Bogen Quantum system rack
Repaint interior of the building including hollow metal doors and
Replace coils in the classroom air handing units to handle cold
Replace 2 water heaters
Page 3
TOTAL IMMEDIATE ASSET PRESERVATION
TOTAL IMMEDIATE ASSET PRESERVATION $599,343 $653,284 $680,254
TOTAL ASSET CONSIDERATIONS
TOTAL ASSET CONSIDERATIONS $1,566,963 $1,707,989 $1,778,503
Sakai Intermediate School :: Project Capital Costs :: April 2015 *72,892 GROSS SQUARE FEET
Summaryof
Findings
Additions |Modernizations
Immediate Asset
Preservation
Asset Considerations
$2,557,465 $5,325,387 $599,343$238,657
$1,566,963
*Estimates include “Soft” costs
Woodward Middle School
WOODWARD MIDDLE SCHOOLSUMMARY OF FINDINGS AND CAPITAL COSTS
1994 Upper Level 74,636 GSF1994 Lower Level 18,691 GSF1994 Basement 2,689 GSF1994 Covered Play Structure (@50%) 2,629 GSFTotal 98,645 GSF
Description of ImprovementProject Cost
2015
Project Cost 2017 Bid
9% Escalation
Project Cost 2018 Bid
13.5% Escalaton
SITE FINDINGS
Student load and unload improvements 161,960 176,537 183,825ADA access for buses 15,299 16,675 17,364Improve site storm water management 134,831 146,966 153,033Improve field storm water management 44,162 48,136 50,123
Site Findings Subtotal $356,251 $388,314 $404,345
BLDG FINDINGS- ACCESSIBILITY (ADA) | HEALTH | LIFE SAFETY
Upgrade intercom system to include call in switch for emergency use 30,597 33,351 34,728Replace fire alarm control 254,975 277,923 289,397Add exhaust ventilation to the specialized learning areas 101,990 111,169 115,759Architectural Cut/Patch and Ceiling Repair for Mech/Elect Work 293,780 320,220 333,440Lack of access control at the entry creates a potential safety issue 114,229 124,509 129,650
Building Findings - Health | Life Safety Subtotal $795,571 $867,172 $902,973
BUILDING FINDINGS - INFRASTRUCTURE
Replace HVAC units (next 5-8 years) 2,741,491 2,988,225 3,111,593Page 1
Replace air handler variable frequency drives (VFDs) 122,388 133,403 138,910Replace HVAC controls (obsolete) 1,315,671 1,434,081 1,493,287
Building Findings - Infrastructure Subtotal $4,179,550 $4,555,710 $4,743,789
LIFE CYCLE REPLACEMENT AND REPAIR
Replace vinyl wall covering in corridors 153,165 166,949 173,842Repaint interior of the building 440,670 480,331 500,161Replace water heaters 101,990 111,169 115,759Repair or replace modular buildings (6 total) 1,040,298 1,133,925 1,180,738Upgrade lighting and controls to meet current energy code 1,427,860 1,556,367 1,620,621
Life Cycle Replacement and Repair Subtotal $3,010,818 $3,281,792 $3,417,279
EDUCATIONAL PROGRAM
5,014,848 5,466,185 5,691,853
Educational Program Subtotal $5,014,848 $5,466,185 $5,691,853
TOTAL SUMMARY OF FINDINGS
TOTAL SUMMARY OF FINDINGS $13,510,203 $14,726,122 $15,334,081
TOTAL IMMEDIATE ASSET PRESERVATION
TOTAL IMMEDIATE ASSET PRESERVATION $1,421,537 $1,549,475 $1,613,444
TOTAL ASSET CONSIDERATIONS
TOTAL ASSET CONSIDERATIONS $6,780,597 $7,390,851 $7,695,978
Collaboration and small group learning spaces 4,500 GSF Modernizations and 4,500 GSF Addition
Page 2
Woodward Middle School :: Project Capital Costs :: April 2015 *102,825 GROSS SQUARE FEET
Summaryof
Findings
Additions |Modernizations
Immediate Asset
Preservation
Asset Considerations
$13,510,203 $3,328,237 $1,421,537 $6,780,597
*Estimates include “Soft” costs
Bainbridge High School
BAINBRIDGE HIGH SCHOOL - 100 BUILDINGSUMMARY OF FINDINGS AND CAPITAL COSTS
1970 Main Floor 41,509 GSFTotal 41,509 GSF
Description of ImprovementProject Cost
2015
Project Cost 2017 Bid
9% Escalation
Project Cost 2018 Bid
13.5% Escalation
BUILDING FINDINGS - ACCESSIBILITY (ADA) | HEALTH | LIFE SAFETY
101,990 111,169 115,759Upgrade intercom system to include call in switch for emergency use 12,239 13,340 13,891Add fire sprinkler system 326,368 355,741 370,428Fire Service to Building 41,306 45,023 46,882Replace non-functioning drinking fountains (all are non-functioning) 24,478 26,681 27,782Replace galvanized domestic water piping with copper 530,348 578,079 601,945Replace egress lighting with emergency type 17,950 19,566 20,374Teaching spaces lack adequate access to daylight 0 0 0Add exhaust ventilation to the specialized learning areas 183,582 200,104 208,366(Includes Home & Family Life, Art Room and Wood Shop)
Building Findings - Health | Life Safety Subtotal $1,238,261 $1,349,704 $1,405,426
BUILDING FINDINGS - INFRASTRUCTURE
Replace roofing (add insulation to entire roof) 1,372,041 1,495,525 1,557,266
305,970 333,507 347,276
2,753,730 3,001,566 3,125,484
803,681 876,013 912,178
Upgrade fire alarm system. Replace smoke detectors at the end of their useful life
Repair | replace the canopy open atrium floor framing and deck to address rot
Replace the entire HVAC system (assume rooftop hydronic unit type, also potential health issue)
Provide lateral and shear support to meet current earthquake code requirements Page 1
1,227,960 1,338,476 1,393,734
Architectural Patch and Repair for Mech/Elect/Seismic 677,360 738,323 768,804Replace electrical distribution panels and circuitry 305,970 333,507 347,276Replace voice and data system to meet District standards 112,189 122,286 127,335
Building Findings - Infrastructure Subtotal $7,558,901 $8,239,202 $8,579,353
LIFE CYCLE REPLACEMENT AND REPAIR
202,552 220,782 229,897Repaint interior of the building 211,675 230,726 240,251
5,865,343 6,393,224 6,657,164Replace all plumbing fixtures throughout the building 301,890 329,061 342,646
Life Cycle Replacement and Repair Subtotal $6,581,461 $7,173,792 $7,469,958
EDUCATIONAL PROGRAM
Collaboration and small group learning spaces
Educational Program Subtotal
TOTAL SUMMARY OF FINDINGS
TOTAL SUMMARY OF FINDINGS $15,378,622 $16,762,698 $17,454,736
TOTAL POSTPONE, PATCH & REPAIR
TOTAL POSTPONE, PATCH AND REPAIR $7,183,578 $7,091,777 $7,384,557
TOTAL OTHER CONSIDERATIONS
TOTAL OTHER CONSIDERATIONS $1,269,266 $2,121,822 $2,209,421
Modest renewal allowance for the entire building (ceilings, flooring, paint; $800,000 theater | large group instruction space (LGI) allowance)
Most door hardware is failing and does not meet current code (replace)
Structural modifications and upgrades to support program and system modernization
Page 2
BAINBRIDGE HIGH SCHOOL - 300 BUILDINGSUMMARY OF FINDINGS AND CAPITAL COSTS
1981 19,182 GSF1999 24,058 GSF1999 20,976 GSFTotal 64,216 GSF
Description of ImprovementProject Cost
2015
Project Cost 2017 Bid
9% Escalation
Project Cost 2018 Bid
13.5% Escalation
BUILDING FINDINGS - ACCESSIBILITY (ADA) | HEALTH | LIFE SAFETY
199,248 217,180 226,146Upgrade intercom system to include call in switch for emergency use 196,482 214,165 223,007
30,597 33,351 34,728Add fall protection to the vaulted roof 101,990 111,169 115,759
163,184 177,871 185,214
Building Findings - Health | Life Safety Subtotal $691,500 $753,735 $784,853
BUILDING FINDINGS - INFRASTRUCTURE
1,886,223 2,055,984 2,140,864Replace water heaters 20,398 22,234 23,152Replace plumbing fixtures in 1981 portion of the building 122,388 133,403 138,910
265,174 289,040 300,972Replace hydronic fan coil units in the mechanical mezzanine and controls 785,323 856,002 891,342
Main Floor
Second Floor
Abate | replace cement asbestos board soffits and fascia panels around perimeter of the building
Upgrade fire alarm system. Replace smoke detectors at the end of their useful life
Upgrade telephone, technology infrastructure and data closets to District standards
Science classrooms on the first floor lack adequate access to daylight - add relites to 5 classrooms
Corroding roofing fasteners | worn finish - Replace metal and membrane roof and add insulation
Main Floor
Page 1
Page 2
Improper ventilation in the Art Room 81,592 88,935 92,607Upgrade master clock to Bogen Quantum series 21,418 23,346 24,309
Building Findings - Infrastructure Subtotal $3,182,516 $3,468,943 $3,612,156
LIFE CYCLE REPLACEMENT AND REPAIR
Modest renewal allowance for the entire building 2,816,238 3,069,699 3,196,430
Life Cycle Replacement and Repair Subtotal $2,816,238 $3,069,699 $3,196,430
EDUCATIONAL PROGRAM
Daylighting 0 0 0
Educational Program Subtotal
TOTAL SUMMARY OF FINDINGS
TOTAL SUMMARY OF FINDINGS $6,690,254 $7,292,377 $7,593,439Total Postpone, Patch and Repair (2-3 years) $853,004 $929,774 $968,159
TOTAL IMMEDIATE ASSET PRESERVATION
TOTAL IMMEDIATE ASSET PRESERVATION $653,756 $712,594 $742,013
BAINBRIDGE HIGH SCHOOL - 400 BUILDINGSUMMARY OF FINDINGS AND CAPITAL COSTS
1999 26,183 GSF1999 Upper Floor 9,961 GSFTotal 36,144 GSF
Description of ImprovementProject Cost
2015
Project Cost
2017 Bid 9%
Escalation
Project Cost 2018 Bid
13.5% Escalation
BUILDING FINDINGS - ACCESSIBILITY (ADA) | HEALTH | LIFE SAFETY
73,433 80,042 83,346
61,194 66,701 69,455
Building Findings - Health | Life Safety Subtotal $134,627 $146,743 $152,801
BUILDING FINDINGS - INFRASTRUCTURE
Corroding roofing fasteners | worn finish 1,431,980 1,560,859 1,625,298Replace Boiler Room burners 199,900 217,891 226,887Add fall protection to the vaulted roof 101,990 111,169 115,759Upgrade master clock to Bogen Quantum series 11,219 12,229 12,733
Building Findings - Infrastructure Subtotal $1,745,090 $1,902,148 $1,980,677
Main Floor
Upgrade intercom | telephone | voice/data system to current District
Upgrade fire alarm system. Replace smoke detectors at the end of their useful life
Page 1
LIFE CYCLE REPLACEMENT AND REPAIR
Replace damaged mechanical grilles in Gymnasium 32,637 35,574 37,043
2,211,796 2,410,858 2,510,388
Life Cycle Replacement and Repair Subtotal $2,244,433 $2,446,432 $2,547,431
TOTAL SUMMARY OF FINDINGS
TOTAL SUMMARY OF FINDINGS $4,124,149 $4,495,323 $4,680,909Total Postpone, Patch and Repair (2-3 years) $145,846 $158,972 $165,535
TOTAL IMMEDIATE ASSET PRESERVATION
TOTAL IMMEDIATE ASSET PRESERVATION $145,846 $158,972 $165,535
Modest renewal allowance for the entire building (especially the locker rooms) paint, refinish floors, new lockers, new equipment
Page 2
Page 1
BAINBRIDGE HIGH SCHOOL - 500 BUILDINGSUMMARY OF FINDINGS AND CAPITAL COSTS
1981 Middle Floor 5,839 GSF1981 Upper Floor 6,796 GSF1981 Lower Floor 20,183 GSF
Total 32,818 GSF
Description of ImprovementProject Cost
2015
Project Cost 2017 Bid
9% Escalation
Project Cost 2018 Bid
13.5% Escalation
BUILDING FINDINGS - ACCESSIBILITY (ADA) | HEALTH | LIFE SAFETY
305,664 333,174 346,929Add fire sprinkler system 244,776 266,806 277,821Cut/Patch/Ceilings at Mech/Electrical Upgrades 535,537 583,736 607,835Add roof tie off system 101,990 111,169 115,759
50,995 55,585 57,879
Building Findings - Health | Life Safety Subtotal $1,238,962 $1,350,469 $1,406,222
BUILDING FINDINGS - INFRASTRUCTURE
3,329,443 3,629,093 3,778,918Replace plumbing fixtures 183,582 200,104 208,366Replace water heater with larger capacity size 101,990 111,169 115,759
17,338 18,899 19,679Install new exhaust system and make-up air units at the Wrestling Gymnasium 132,587 144,520 150,486(Assume only a new exhaust fan, duct, etc. not in total) 0
1,937,810 2,112,213 2,199,414
(Includes Gym, Commodore Kitchen|Commons, BISD Boardroom)
Replace entire HVAC system to eliminate over-pressurization of the building
Abate | replace cement asbestos board soffits and fascia panels around perimeter of the building
Upgrade fire alarm system. Replace smoke detectors at the end of their
Upgrade exterior building envelope to increase energy performance and reduce heat loss
Upgrade telephone, technology infrastructure and data closets to District
Page 2
Replace switchboard and electrical distribution system 163,184 177,871 185,214Upgrade illumination and lighting control except in Gyms 93,831 102,276 106,498Upgrade master clock to Bogen Quantum series 10,199 11,117 11,576
Building Findings - Infrastructure Subtotal $5,969,964 $6,507,261 $6,775,909
LIFE CYCLE REPLACEMENT AND REPAIR
Repaint interior of the building 167,355 182,417 189,948Replace air grilles in the Gymnasium with heavy-duty grilles 32,637 35,574 37,043
3,347,108 3,648,348 3,798,967
Life Cycle Replacement and Repair Subtotal $3,547,100 $3,866,339 $4,025,959
TOTAL SUMMARY OF FINDINGS
TOTAL SUMMARY OF FINDINGS $10,756,027 $11,724,069 $12,208,090Total Postpone, Patch and Repair (2-3 years) $3,731,304 $4,067,122 $4,235,030
TOTAL IMMEDIATE ASSET PRESERVATION
TOTAL IMMEDIATE ASSET PRESERVATION $3,665,317 $3,995,195 $4,160,134
Investigate and repair water intrusion at west wall. Renovate interior of the Lower Gym (floors, walls, wall coverings, doors, hardware, signs, equipment)
Bainbridge High School :: Project Capital Costs :: April 2015 *
Summaryof
Findings
New in Lieu
PostponePatch
&Repair
Immediate Asset
PreservationOther
Considerations
100 Building $15,378,622 $27,022,727 $7,183,578 $1,269,266
300 Building $6,690,254 $653,756
$853,004
400 Building $4,124,149 $145,846
500 Building $10,756,027 $3,665,317
$3,731,304
*Estimates include “Soft” costs
Commodore Options School
Page 1
COMMODORE OPTIONS SCHOOL (K-12)1948 Original Building 20,538 GSF1949 Addition 4,381 GSF1970 Addition 13,127 GSF1978 Addition 4,274 GSF1981 Addition 13,021 GSF1948 Covered Playshed (@50%) 998 GSF
56,339 GSF
SUMMARY OF FINDINGS AND CAPITAL COSTSProject
Cost 2015
Project Cost 2017 Bid
9% Escalation
Project Cost 2018 Bid
13.5% Escalation
BUILDING FINDINGS - ACCESSIBILITY (ADA) | HEALTH | LIFE SAFETY
Install fire sprinkler system 356,965 389,092 405,155Install fire pump 203,980 222,338 231,517Pump House/Enclosure 183,582 200,104 208,366Fire service to building 40,796 44,468 46,303ADA ramp and walkway from Madison Avenue 71,393 77,818 81,031Replace galvanized domestic water piping with copper 611,940 667,015 694,552
1,040,298 1,133,925 1,180,738
693,532 755,950 787,159
508,298 554,045 576,918
611,940 667,015 694,552607,860 662,568 689,922
611,940 667,015 694,552
529,010 576,621 600,426
Provide lateral and shear support to meet current earthquake code requirements 1948/49 Wing
Structural modifications and upgrades to support program and system modernizations 1948/49 Wing
Provide lateral and shear support to meet current earthquake code requirements 1970/78/81 Bldgs
Structural modifications and upgrades to support program and system modernizations 1970/78/81 Bldgs
Architectural Patch and Repair for Abatement/Mech/Elect/Seismic 1948/51 Wing
Architectural Patch and Repair for Abatement/Mech/Elect/Seismic 1970/78/81 Bldgs
Demolish south wing (1948/49 wing)
Page 2
BUILDING FINDINGS - INFRASTRUCTURE
Replace HVAC system and controls for areas still on steam system 1,733,830 1,889,875 1,967,897Replace controls in areas still on steam system 407,960 444,676 463,035Replace all plumbing fixtures 254,975 277,923 289,397Allowance to replace underground waste mains 285,572 311,273 324,124
584,780 637,410 663,725
Building Findings - Infrastructure Subtotal $3,267,117 $3,561,158 $3,708,178
TOTAL SUMMARY OF FINDINGS
TOTAL SUMMARY OF FINDINGS $9,338,651 $10,179,130 $10,599,3692,670,800$ $2,911,172 $3,031,358
TOTAL POSTPONE, PATCH & REPAIR
TOTAL POSTPONE, PATCH & REPAIR $5,524,225 $6,021,405 $6,269,996
Total Postpone, Patch and Repair (2-3 years)
Replace suspending ceiling tiles throughout
Commodore Options School :: Project Capital Costs :: April 2015 *
Summaryof
FindingsNew in Lieu
PostponePatch
&Repair
$9,338,651 $33,097,790 $5,524,225$2,670,800
*Estimates include “Soft” Costs
Summaryof
Findings
New in Lieu
Add/Mod
PostponePatch
&Repair
Immediate Asset
PreservationOther
Considerations
Blakely$28,821,865 $38,964,667
$38,156,500$3,947,625 $1,509,452
Ordway$29,817,343 $38,891,842
$38,090,158$2,180,760$1,377,722
$4,397,809
Sakai$2,557,465 $5,325,387 $599,343
$238,657$1,566,963
Woodward$13,510,203 $3,328,237 $1,421,537 $6,780,597
Blakely, Ordway, Sakai and Woodward
Summaryof
Findings
New in Lieu
PostponePatch
&Repair
Immediate Asset
PreservationOther
Considerations
100 Building$15,378,622 $27,022,727 $7,183,578 $1,269,266
300 Building$6,690,254 $653,756
$853,004
400 Building$4,124,149 $145,846
500 Building
Commodore(North)
$10,756,027
$9,338,651 $33,097,790 $5,524,225$2,670,800
$3,665,317$3,731,304
Bainbridge High School and Commodore
Blakely $60.3M
Blakely & 100 Building Classrooms $63.2M
Blakely $38,964,667
Ordway $1,377,722
Sakai $ 238,657
Woodward $ 1,421,537
BHS 100 $13,750,000
BHS 300 $ 853,004
BHS 400 $ 145,846
BHS 500 $ 3,732,304
Commodore $ 2,670,800
TOTALS -$ 52,714,667$ 4,048,522$ 6,391,348$ -$ 63,154,537$
Immediate Asset
Preservation
Other Considerations
Postpone Patch & Repair
New In LieuSummary
of Findings
2005-2025 COST ESCALATION
Tax Rate and Assessed Value (AV) Information
Federal Way School District No. 210 1.4409 3.7540 1.2206 - 6.4155 236,000 1,514Tahoma School District No. 409 2.3675 3.2621 0.5381 - 6.1677 371,000 2,288Auburn School District No. 408 1.4205 3.8597 0.8607 - 6.1408 206,000 1,265Bremerton School District No. 100 1.3567 3.8156 0.6460 - 5.8183 132,950 (1) 774 (1)
Tukwila School District No. 406 1.7344 3.4749 0.2923 - 5.5016 189,000 1,040Kent School District No. 415 1.4065 3.6285 0.3787 - 5.4137 241,000 1,305Highline School District No. 401 1.7087 3.6789 - - 5.3877 269,000 1,449Central Kitsap School District No. 401 - 3.3125 1.9012 - 5.2137 239,775 (2) 1,250 (2)
Enumclaw School District No. 216 1.4677 3.5011 0.2441 - 5.2130 229,000 1,194Shoreline School District No. 412 1.8833 2.5592 0.3139 - 4.7563 343,000 1,631Renton School District No. 403 1.7141 2.4155 0.4634 - 4.5930 280,000 1,286Fife School District No. 417 1.2658 3.3123 - - 4.5781 247,000 1,131Northshore School District No. 417 1.9327 2.1501 0.3538 - 4.4367 557,000 2,471North Kitsap School District No. 400 1.5498 2.7996 - - 4.3494 268,780 (3) 1,169 (3)
Riverview School District No. 407 1.2211 2.4253 0.5582 - 4.2046 437,000 1,837Issaquah School District No. 411 1.5935 1.9535 0.5126 0.0763 4.1360 441,000 1,824Vashon Island School District No. 402 1.7150 1.7064 0.4062 - 3.8276 384,000 1,470Snoqualmie Valley School District No. 410 1.1883 2.2236 0.3945 - 3.8063 295,000 1,123South Kitsap School District No. 402 - 3.6864 - - 3.6864 217,980 (4) 804 (4)
North Mason School District No. 403 1.2847 2.2114 - - 3.4961 N/A N/A (5)
Lake Washington School District No. 414 0.8703 1.4570 0.9719 - 3.2992 570,000 1,881Bainbridge Island School District No. 303 1.2334 1.6770 0.3876 - 3.2981 486,295 (6) 1,604 (6)
Bellevue School District No. 405 1.3662 1.2049 0.5567 - 3.1278 599,000 1,874Mercer Island School District No. 400 0.8302 1.3808 0.5119 - 2.7229 900,000 2,451Seattle School District No. 1 - 1.2778 1.1131 - 2.3908 430,000 1,028Skykomish School District No. 404 - 1.8251 - - 1.8251 133,000 243
Source: King County and Kitsap County Assessor's Office
(1) City of Bremerton data
(2) Central Kitsap Unincorporated data
(3) Average of City of Poulsbo and North Kitsap Unincorporated data
(4) Average of City of Port Orchard and South Kitsap Unincorporated data
(5) Mason County Treasurer's Office data
(6) City of Bainbridge Island data
Median Residence Assessed Value ($)
Median Residence Total Levy ($)
King and Kitsap County School Districts2015 Total Tax Rates
District Bonds ($) M&O ($) Trans. ($) Total ($)Capital
Projects ($)
Capital Investment Impact on Levy Rate
Rating: Aa2 Moody's Rating
Interest Rates: Current Rates plus 150 bps
Assessed Value Increases at:
Actual 2014
Actual 2015
Issue 1 Issue 2 Issue 3 TotalBonds Issued: 6/1/16 12/1/17 12/1/18Issue Size: $21.070M $21.065M ######### $63.20MTerm (years): 19.5 20.0 20.0
Year Bond AV
Bond AV Growth
Rate M&O Levy
Tech. Levy
($000's) Prior Debt
Fed. Reimb. Pymt 2016 2017 2018
Total New Bonds
Debt Service
Fund Incr/
(Decr)
Total Bond Levy
Total School
LevyM&O Levy
Tech. Levy
Prior Debt
Fed. Reimb. Pymt 2016 2017 2018
Total New
Bonds
Debt Service
Fund Incr/
(Decr)Total
Bonds
Total School
Levy Rate Year
2000 2,391,309 N/A 4,625 - 7,510 7,510 12,135 1.96 - 3.18 3.18 5.13 20002001 2,765,808 15.66% 4,846 - 5,389 5,389 10,235 1.75 - 1.95 1.95 3.70 20012002 3,094,510 11.88% 4,959 - 8,156 8,156 13,114 1.60 - 2.64 2.64 4.24 20022003 3,594,607 16.16% 5,284 - 5,330 5,330 10,614 1.47 - 1.48 1.48 2.95 20032004 3,648,243 1.49% 5,584 - 5,300 5,300 10,884 1.53 - 1.45 1.45 2.98 20042005 3,958,862 8.51% 5,899 - 5,049 5,049 10,948 1.49 - 1.28 1.28 2.77 20052006 4,722,824 19.30% 6,199 - 5,400 5,400 11,598 1.31 - 1.14 1.14 2.46 20062007 5,628,928 19.19% 6,607 1,525 8,834 8,834 16,966 1.17 0.27 1.57 1.57 3.01 20072008 6,577,671 16.85% 7,061 1,525 7,499 7,499 16,086 1.07 0.23 1.14 1.14 2.45 20082009 6,778,093 3.05% 7,507 1,525 7,800 7,800 16,832 1.11 0.22 1.15 1.15 2.48 20092010 6,207,278 -8.42% 7,966 1,525 7,750 - 7,750 17,241 1.28 0.25 1.25 1.25 2.78 20102011 5,603,072 -9.73% 8,932 900 6,200 - - 6,200 16,032 1.59 0.16 1.11 1.11 2.86 20112012 5,349,046 -4.53% 8,732 1,325 7,100 - - 7,100 17,157 1.63 0.25 1.33 1.33 3.21 20122013 5,188,972 -2.99% 8,705 1,525 7,100 (926) - 7,100 17,330 1.68 0.29 1.37 1.37 3.34 20132014 5,199,203 0.20% 8,905 1,525 8,243 (926) - - - - 183 7,500 17,930 1.71 0.29 1.59 (0.18) - - - - 0.04 1.44 3.45 20142015 5,675,247 9.16% 9,519 2,200 8,215 (926) - - - - (289) 7,000 18,719 1.68 0.39 1.45 (0.16) - - - - (0.05) 1.23 3.30 20152016 5,731,999 1.00% 9,600 2,200 8,203 (926) - - - - 7,277 19,077 1.67 0.38 1.43 (0.16) - - - - - 1.27 3.33 20162017 5,789,319 1.00% 9,700 2,200 7,943 (926) 1,427 - - 1,427 - 8,444 20,344 1.68 0.38 1.37 (0.16) 0.25 - - 0.25 - 1.46 3.51 20172018 5,847,212 1.00% 8,000 2,200 7,960 (926) 1,652 1,645 - 3,296 10,330 20,530 1.37 0.38 1.36 (0.16) 0.28 0.28 - 0.56 - 1.77 3.51 20182019 5,905,685 1.00% 8,000 2,200 8,052 (926) 1,239 1,125 1,047 3,411 10,537 20,737 1.35 0.37 1.36 (0.16) 0.21 0.19 0.18 0.58 - 1.78 3.51 20192020 5,964,741 1.00% 8,000 2,200 8,270 (926) 1,235 1,116 1,047 3,398 10,742 20,942 1.34 0.37 1.39 (0.16) 0.21 0.19 0.18 0.57 - 1.80 3.51 20202021 6,024,389 1.00% 8,000 2,200 8,330 (918) 1,330 1,166 1,047 3,543 10,955 21,155 1.33 0.37 1.38 (0.15) 0.22 0.19 0.17 0.59 - 1.82 3.51 20212022 6,084,633 1.00% 8,000 2,200 8,204 (909) 1,546 1,275 1,047 3,868 11,162 21,362 1.31 0.36 1.35 (0.15) 0.25 0.21 0.17 0.64 - 1.83 3.51 20222023 6,145,479 1.00% 8,000 2,200 8,167 (897) 1,707 1,354 1,047 4,108 11,377 21,577 1.30 0.36 1.33 (0.15) 0.28 0.22 0.17 0.67 - 1.85 3.51 20232024 6,206,934 1.00% 8,000 2,200 8,401 (885) 1,685 1,343 1,047 4,076 11,592 21,792 1.29 0.35 1.35 (0.14) 0.27 0.22 0.17 0.66 - 1.87 3.51 20242025 6,269,003 1.00% 8,000 2,200 8,524 (873) 1,736 1,377 1,047 4,161 11,812 22,012 1.28 0.35 1.36 (0.14) 0.28 0.22 0.17 0.66 - 1.88 3.51 20252026 6,331,693 1.00% 8,000 2,200 7,313 (863) 2,693 1,843 1,047 5,583 12,034 22,234 1.26 0.35 1.15 (0.14) 0.43 0.29 0.17 0.88 - 1.90 3.51 20262027 6,395,010 1.00% 8,000 2,200 5,631 (827) 3,933 2,468 1,047 7,449 12,253 22,453 1.25 0.34 0.88 (0.13) 0.62 0.39 0.16 1.16 - 1.92 3.51 20272028 6,458,960 1.00% 8,000 2,200 2,283 (768) 3,730 3,642 3,592 10,964 12,479 22,679 1.24 0.34 0.35 (0.12) 0.58 0.56 0.56 1.70 - 1.93 3.51 20282029 6,523,550 1.00% 8,000 2,200 8,032 (442) 1,438 1,691 1,990 5,119 12,709 22,909 1.23 0.34 1.23 (0.07) 0.22 0.26 0.31 0.78 - 1.95 3.51 20292030 6,588,785 1.00% 8,000 2,200 486 - 1,151 1,421 1,702 4,275 4,760 14,960 1.21 0.33 0.07 - 0.17 0.22 0.26 0.65 - 0.72 2.27 20302031 6,654,673 1.00% 8,000 2,200 484 - 1,213 1,461 1,753 4,427 4,911 15,111 1.20 0.33 0.07 - 0.18 0.22 0.26 0.67 - 0.74 2.27 20312032 6,721,220 1.00% 8,000 2,200 487 - 1,252 1,518 1,809 4,579 5,066 15,266 1.19 0.33 0.07 - 0.19 0.23 0.27 0.68 - 0.75 2.27 20322033 6,788,432 1.00% 8,000 2,200 489 - 1,304 1,563 1,862 4,728 5,217 15,417 1.18 0.32 0.07 - 0.19 0.23 0.27 0.70 - 0.77 2.27 20332034 6,856,316 1.00% 8,000 2,200 - - 1,522 1,774 2,076 5,373 5,373 15,573 1.17 0.32 - - 0.22 0.26 0.30 0.78 - 0.78 2.27 20342035 6,924,880 1.00% 8,000 2,200 - - 1,567 1,834 2,124 5,526 5,526 15,726 1.16 0.32 - - 0.23 0.26 0.31 0.80 - 0.80 2.27 20352036 6,994,128 1.00% 8,000 2,200 - - - 2,693 2,988 5,681 5,681 15,881 1.14 0.31 - - - 0.39 0.43 0.81 - 0.81 2.27 20362037 7,064,070 1.00% 8,000 2,200 - - - 2,773 3,069 5,841 5,841 16,041 1.13 0.31 - - - 0.39 0.43 0.83 - 0.83 2.27 20372038 7,134,710 1.00% 8,000 2,200 - - - - 6,003 6,003 6,003 16,203 1.12 0.31 - - - - 0.84 0.84 - 0.84 2.27 20382039 7,206,058 1.00% 8,000 2,200 - - - - - - - 10,200 1.11 0.31 - - - - - - - - 1.42 20392040 7,278,118 1.00% 8,000 2,200 - - - - - - - 10,200 1.10 0.30 - - - - - - - - 1.40 2040
Total Debt Service $33,359 $35,083 $38,396 $106,838Total Interest $12,289 $14,018 $17,331 $43,638Bond Yield 4.48% 4.58% 5.01%Run Date: 5.27.15
Tax Rate Impact:Calculation Factors
Bainbridge Island School District No. 303Scenario 1: February 2016 Election, $63.2 million, 3 Sales, Wrapped Level Total School Levy Rate
0.20%
- Bond Tax Rate in 2017 = $1.46 per $1,000 AV- School Tax Rate in 2017 = $3.51 per $1,000 AV
1.00%
Assessed Value Summary ($000's) Levy Rate DetailLevy Amount Detail ($000's)
9.16%
NOTES:- QSCB/BAB reimbursements reflect 7.2% reduction- Debt Service reflects sinking funds payments for the QSCB
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
-
1.00
2.00
3.00
4.00
5.00
Projected Tax Rates - Scenario 1$63.2M Wrapped Level Total Tax Rate
Levy / $1000 Assessed Value
M&O Levy Tech Levy Existing Bonds 2016 Bonds 2017 Bonds 2018 Bonds
Rating: Aa2 Moody's Rating
Interest Rates: Current Rates plus 150 bps
Assessed Value Increases at:
Actual 2014
Actual 2015
Issue 1 Issue 2 Issue 3 TotalBonds Issued: 6/1/16 12/1/17 12/1/18Issue Size: $21.07M $21.07M $21.07M $63.20MTerm (years): 19.5 20.0 20.0
Year Bond AV
Bond AV Growth
Rate M&O Levy
Tech. Levy
($000's) Prior Debt
Fed. Reimb. Pymt 2016 2017 2018
Total New Bonds
Debt Service
Fund Incr/
(Decr)
Total Bond Levy
Total School
LevyM&O Levy
Tech. Levy
Prior Debt
Fed. Reimb. Pymt 2016 2017 2018
Total New
Bonds
Debt Service
Fund Incr/
(Decr)Total
Bonds
Total School
Levy Rate Year
2000 2,391,309 N/A 4,625 - 7,510 7,510 12,135 1.96 - 3.18 3.18 5.13 20002001 2,765,808 15.66% 4,846 - 5,389 5,389 10,235 1.75 - 1.95 1.95 3.70 20012002 3,094,510 11.88% 4,959 - 8,156 8,156 13,114 1.60 - 2.64 2.64 4.24 20022003 3,594,607 16.16% 5,284 - 5,330 5,330 10,614 1.47 - 1.48 1.48 2.95 20032004 3,648,243 1.49% 5,584 - 5,300 5,300 10,884 1.53 - 1.45 1.45 2.98 20042005 3,958,862 8.51% 5,899 - 5,049 5,049 10,948 1.49 - 1.28 1.28 2.77 20052006 4,722,824 19.30% 6,199 - 5,400 5,400 11,598 1.31 - 1.14 1.14 2.46 20062007 5,628,928 19.19% 6,607 1,525 8,834 8,834 16,966 1.17 0.27 1.57 1.57 3.01 20072008 6,577,671 16.85% 7,061 1,525 7,499 7,499 16,086 1.07 0.23 1.14 1.14 2.45 20082009 6,778,093 3.05% 7,507 1,525 7,800 7,800 16,832 1.11 0.22 1.15 1.15 2.48 20092010 6,207,278 -8.42% 7,966 1,525 7,750 - 7,750 17,241 1.28 0.25 1.25 1.25 2.78 20102011 5,603,072 -9.73% 8,932 900 6,200 - - 6,200 16,032 1.59 0.16 1.11 1.11 2.86 20112012 5,349,046 -4.53% 8,732 1,325 7,100 - - 7,100 17,157 1.63 0.25 1.33 1.33 3.21 20122013 5,188,972 -2.99% 8,705 1,525 7,100 (926) - 7,100 17,330 1.68 0.29 1.37 1.37 3.34 20132014 5,199,203 0.20% 8,905 1,525 8,243 (926) - - - - 183 7,500 17,930 1.71 0.29 1.59 (0.18) - - - - 0.04 1.44 3.45 20142015 5,675,247 9.16% 9,519 2,200 8,215 (926) - - - - (289) 7,000 18,719 1.68 0.39 1.45 (0.16) - - - - (0.05) 1.23 3.30 20152016 5,731,999 1.00% 9,600 2,200 8,203 (926) - - - - 7,277 19,077 1.67 0.38 1.43 (0.16) - - - - - 1.27 3.33 20162017 5,789,319 1.00% 9,700 2,200 7,943 (926) 1,731 - - 1,731 - 8,747 20,647 1.68 0.38 1.37 (0.16) 0.30 - - 0.30 - 1.51 3.57 20172018 5,847,212 1.00% 8,000 2,200 7,960 (926) 1,733 1,650 - 3,383 10,417 20,617 1.37 0.38 1.36 (0.16) 0.30 0.28 - 0.58 - 1.78 3.53 20182019 5,905,685 1.00% 8,000 2,200 8,052 (926) 1,732 1,654 1,650 5,036 12,161 22,361 1.35 0.37 1.36 (0.16) 0.29 0.28 0.28 0.85 - 2.06 3.79 20192020 5,964,741 1.00% 8,000 2,200 8,270 (926) 1,732 1,650 1,654 5,035 12,379 22,579 1.34 0.37 1.39 (0.16) 0.29 0.28 0.28 0.84 - 2.08 3.79 20202021 6,024,389 1.00% 8,000 2,200 8,330 (918) 1,734 1,652 1,650 5,036 12,447 22,647 1.33 0.37 1.38 (0.15) 0.29 0.27 0.27 0.84 - 2.07 3.76 20212022 6,084,633 1.00% 8,000 2,200 8,204 (909) 1,734 1,652 1,652 5,038 12,333 22,533 1.31 0.36 1.35 (0.15) 0.28 0.27 0.27 0.83 - 2.03 3.70 20222023 6,145,479 1.00% 8,000 2,200 8,167 (897) 1,735 1,649 1,652 5,037 12,306 22,506 1.30 0.36 1.33 (0.15) 0.28 0.27 0.27 0.82 - 2.00 3.66 20232024 6,206,934 1.00% 8,000 2,200 8,401 (885) 1,733 1,654 1,649 5,037 12,552 22,752 1.29 0.35 1.35 (0.14) 0.28 0.27 0.27 0.81 - 2.02 3.67 20242025 6,269,003 1.00% 8,000 2,200 8,524 (873) 1,733 1,651 1,654 5,038 12,689 22,889 1.28 0.35 1.36 (0.14) 0.28 0.26 0.26 0.80 - 2.02 3.65 20252026 6,331,693 1.00% 8,000 2,200 7,313 (863) 1,735 1,654 1,651 5,040 11,490 21,690 1.26 0.35 1.15 (0.14) 0.27 0.26 0.26 0.80 - 1.81 3.43 20262027 6,395,010 1.00% 8,000 2,200 5,631 (827) 1,732 1,650 1,654 5,037 9,840 20,040 1.25 0.34 0.88 (0.13) 0.27 0.26 0.26 0.79 - 1.54 3.13 20272028 6,458,960 1.00% 8,000 2,200 2,283 (768) 1,731 1,652 1,650 5,033 6,548 16,748 1.24 0.34 0.35 (0.12) 0.27 0.26 0.26 0.78 - 1.01 2.59 20282029 6,523,550 1.00% 8,000 2,200 8,032 (442) 1,735 1,650 1,652 5,037 12,627 22,827 1.23 0.34 1.23 (0.07) 0.27 0.25 0.25 0.77 - 1.94 3.50 20292030 6,588,785 1.00% 8,000 2,200 486 - 1,734 1,650 1,650 5,034 5,520 15,720 1.21 0.33 0.07 - 0.26 0.25 0.25 0.76 - 0.84 2.39 20302031 6,654,673 1.00% 8,000 2,200 484 - 1,733 1,650 1,650 5,033 5,517 15,717 1.20 0.33 0.07 - 0.26 0.25 0.25 0.76 - 0.83 2.36 20312032 6,721,220 1.00% 8,000 2,200 487 - 1,730 1,650 1,650 5,030 5,517 15,717 1.19 0.33 0.07 - 0.26 0.25 0.25 0.75 - 0.82 2.34 20322033 6,788,432 1.00% 8,000 2,200 489 - 1,731 1,654 1,650 5,035 5,524 15,724 1.18 0.32 0.07 - 0.26 0.24 0.24 0.74 - 0.81 2.32 20332034 6,856,316 1.00% 8,000 2,200 - - 1,730 1,651 1,654 5,035 5,035 15,235 1.17 0.32 - - 0.25 0.24 0.24 0.73 - 0.73 2.22 20342035 6,924,880 1.00% 8,000 2,200 - - 1,730 1,652 1,651 5,033 5,033 15,233 1.16 0.32 - - 0.25 0.24 0.24 0.73 - 0.73 2.20 20352036 6,994,128 1.00% 8,000 2,200 - - - 1,654 1,652 3,306 3,306 13,506 1.14 0.31 - - - 0.24 0.24 0.47 - 0.47 1.93 20362037 7,064,070 1.00% 8,000 2,200 - - - 1,652 1,654 3,306 3,306 13,506 1.13 0.31 - - - 0.23 0.23 0.47 - 0.47 1.91 20372038 7,134,710 1.00% 8,000 2,200 - - - - 1,652 1,652 1,652 11,852 1.12 0.31 - - - - 0.23 0.23 - 0.23 1.66 20382039 7,206,058 1.00% 8,000 2,200 - - - - - - - 10,200 1.11 0.31 - - - - - - - - 1.42 20392040 7,278,118 1.00% 8,000 2,200 - - - - - - - 10,200 1.10 0.30 - - - - - - - - 1.40 2040
Total Debt Service $32,917 $33,031 $33,031 $98,979Total Interest $11,847 $11,966 $11,966 $35,779 3.79 Bond Yield 4.37% 4.35% 4.22% 0.46 Run Date: 5.27.15 2.59
- School Tax Rate in 2017 = $3.57 per $1,000 AV
Bainbridge Island School District No. 303Scenario 2: February 2016 Election, $63.2 million, 3 Sales, Level Debt Service
Calculation Factors Tax Rate Impact:- Bond Tax Rate in 2017 = $1.51 per $1,000 AV
0.20%
9.16%
1.00%
Assessed Value Summary ($000's) Levy Amount Detail ($000's) Levy Rate Detail
NOTES:- QSCB/BAB reimbursements reflect 7.2% reduction- Debt Service reflects sinking funds payments for the QSCB
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
-
1.00
2.00
3.00
4.00
5.00
Projected Tax Rates - Scenario 2$63.2M Level Debt Service
Levy / $1000 Assessed Value
Existing Bonds 2016 Bonds 2017 Bonds 2018 Bonds M&O Levy Tech Levy
Rating: Aa2 Moody's Rating
Interest Rates: Current Rates plus 150 bps
Assessed Value Increases at:
Actual 2014
Actual 2015
Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Issue 6 TotalBonds Issued: 6/1/16 12/1/17 12/1/18 6/1/2019 12/1/2021 12/1/2023Issue Size: $21.070M $21.065M ######### $33.805M $33.805M $33.800M $164.61MTerm (years): 19.5 20.0 20.0 19.5 20.0 20.0
Year Bond AV
Bond AV Growth
Rate M&O Levy
Tech. Levy
($000's) Prior Debt
Fed. Reimb. Pymt 2016 2017 2018 2019 2021 2023
Total New Bonds
Debt Service
Fund Incr/
(Decr)
Total Bond Levy
Total School
LevyM&O Levy
Tech. Levy
Prior Debt
Fed. Reimb. Pymt 2016 2017 2018 2019 2021 2023
Total New
Bonds
Debt Service
Fund Incr/
(Decr)Total
Bonds
Total School
Levy Rate Year
2000 2,391,309 N/A 4,625 - 7,510 7,510 12,135 1.96 - 3.18 3.18 5.13 20002001 2,765,808 15.66% 4,846 - 5,389 5,389 10,235 1.75 - 1.95 1.95 3.70 20012002 3,094,510 11.88% 4,959 - 8,156 8,156 13,114 1.60 - 2.64 2.64 4.24 20022003 3,594,607 16.16% 5,284 - 5,330 5,330 10,614 1.47 - 1.48 1.48 2.95 20032004 3,648,243 1.49% 5,584 - 5,300 5,300 10,884 1.53 - 1.45 1.45 2.98 20042005 3,958,862 8.51% 5,899 - 5,049 5,049 10,948 1.49 - 1.28 1.28 2.77 20052006 4,722,824 19.30% 6,199 - 5,400 5,400 11,598 1.31 - 1.14 1.14 2.46 20062007 5,628,928 19.19% 6,607 1,525 8,834 8,834 16,966 1.17 0.27 1.57 1.57 3.01 20072008 6,577,671 16.85% 7,061 1,525 7,499 7,499 16,086 1.07 0.23 1.14 1.14 2.45 20082009 6,778,093 3.05% 7,507 1,525 7,800 7,800 16,832 1.11 0.22 1.15 1.15 2.48 20092010 6,207,278 -8.42% 7,966 1,525 7,750 - 7,750 17,241 1.28 0.25 1.25 1.25 2.78 20102011 5,603,072 -9.73% 8,932 900 6,200 - - 6,200 16,032 1.59 0.16 1.11 1.11 2.86 20112012 5,349,046 -4.53% 8,732 1,325 7,100 - - 7,100 17,157 1.63 0.25 1.33 1.33 3.21 20122013 5,188,972 -2.99% 8,705 1,525 7,100 (926) - 7,100 17,330 1.68 0.29 1.37 1.37 3.34 20132014 5,199,203 0.20% 8,905 1,525 8,243 (926) - - - - - - - 183 7,500 17,930 1.71 0.29 1.59 (0.18) - - - - - - - 0.04 1.44 3.45 20142015 5,675,247 9.16% 9,519 2,200 8,215 (926) - - - - - - - (289) 7,000 18,719 1.68 0.39 1.45 (0.16) - - - - - - - (0.05) 1.23 3.30 20152016 5,731,999 1.00% 9,600 2,200 8,203 (926) - - - - - - - 7,277 19,077 1.67 0.38 1.43 (0.16) - - - - - - - - 1.27 3.33 20162017 5,789,319 1.00% 9,700 2,200 7,943 (926) 4,235 - - - - - 4,235 - 11,252 23,152 1.68 0.38 1.37 (0.16) 0.73 - - - - - 0.73 - 1.94 4.00 20172018 5,847,212 1.00% 8,000 2,200 7,960 (926) 2,987 3,159 - - - - 6,146 13,180 23,380 1.37 0.38 1.36 (0.16) 0.51 0.54 - - - - 1.05 - 2.25 4.00 20182019 5,905,685 1.00% 8,000 2,200 8,052 (926) 1,936 2,115 2,230 - - - 6,281 13,407 23,607 1.35 0.37 1.36 (0.16) 0.33 0.36 0.38 - - - 1.06 - 2.27 4.00 20192020 5,964,741 1.00% 8,000 2,200 8,270 (926) 1,056 890 1,003 3,361 - - 6,310 13,654 23,854 1.34 0.37 1.39 (0.16) 0.18 0.15 0.17 0.56 - - 1.06 - 2.29 4.00 20202021 6,024,389 1.00% 8,000 2,200 8,330 (918) 1,285 890 1,003 3,298 - - 6,476 13,887 24,087 1.33 0.37 1.38 (0.15) 0.21 0.15 0.17 0.55 - - 1.07 - 2.31 4.00 20212022 6,084,633 1.00% 8,000 2,200 8,204 (909) 920 890 1,003 2,208 1,821 - 6,842 14,137 24,337 1.31 0.36 1.35 (0.15) 0.15 0.15 0.16 0.36 0.30 - 1.12 - 2.32 4.00 20222023 6,145,479 1.00% 8,000 2,200 8,167 (897) 971 890 1,003 2,371 1,871 - 7,106 14,375 24,575 1.30 0.36 1.33 (0.15) 0.16 0.14 0.16 0.39 0.30 - 1.16 - 2.34 4.00 20232024 6,206,934 1.00% 8,000 2,200 8,401 (885) 659 890 1,003 1,432 1,553 1,592 7,129 14,645 24,845 1.29 0.35 1.35 (0.14) 0.11 0.14 0.16 0.23 0.25 0.26 1.15 - 2.36 4.00 20242025 6,269,003 1.00% 8,000 2,200 8,524 (873) 659 890 1,003 1,447 1,613 1,607 7,219 14,871 25,071 1.28 0.35 1.36 (0.14) 0.11 0.14 0.16 0.23 0.26 0.26 1.15 - 2.37 4.00 20252026 6,331,693 1.00% 8,000 2,200 7,313 (863) 839 890 1,003 1,686 2,406 1,847 8,672 15,122 25,322 1.26 0.35 1.15 (0.14) 0.13 0.14 0.16 0.27 0.38 0.29 1.37 - 2.39 4.00 20262027 6,395,010 1.00% 8,000 2,200 5,631 (827) 1,227 890 1,003 2,007 3,277 2,169 10,572 15,376 25,576 1.25 0.34 0.88 (0.13) 0.19 0.14 0.16 0.31 0.51 0.34 1.65 - 2.40 4.00 20272028 6,458,960 1.00% 8,000 2,200 2,283 (768) 1,810 1,285 1,003 3,818 3,433 2,765 14,115 15,630 25,830 1.24 0.34 0.35 (0.12) 0.28 0.20 0.16 0.59 0.53 0.43 2.19 - 2.42 4.00 20282029 6,523,550 1.00% 8,000 2,200 8,032 (442) 839 1,142 1,003 1,582 1,932 1,805 8,302 15,892 26,092 1.23 0.34 1.23 (0.07) 0.13 0.17 0.15 0.24 0.30 0.28 1.27 - 2.44 4.00 20292030 6,588,785 1.00% 8,000 2,200 486 - 2,066 2,364 1,258 2,804 4,135 3,039 15,666 16,152 26,352 1.21 0.33 0.07 - 0.31 0.36 0.19 0.43 0.63 0.46 2.38 - 2.45 4.00 20302031 6,654,673 1.00% 8,000 2,200 484 - 2,104 2,405 2,626 2,835 2,869 3,091 15,930 16,414 26,614 1.20 0.33 0.07 - 0.32 0.36 0.39 0.43 0.43 0.46 2.39 - 2.47 4.00 20312032 6,721,220 1.00% 8,000 2,200 487 - 2,143 2,458 2,651 2,883 2,917 3,140 16,193 16,679 26,879 1.19 0.33 0.07 - 0.32 0.37 0.39 0.43 0.43 0.47 2.41 - 2.48 4.00 20322033 6,788,432 1.00% 8,000 2,200 489 - 2,194 2,491 2,699 2,922 2,962 3,192 16,460 16,949 27,149 1.18 0.32 0.07 - 0.32 0.37 0.40 0.43 0.44 0.47 2.42 - 2.50 4.00 20332034 6,856,316 1.00% 8,000 2,200 - - 2,313 2,620 2,820 3,049 3,089 3,329 17,220 17,220 27,420 1.17 0.32 - - 0.34 0.38 0.41 0.44 0.45 0.49 2.51 - 2.51 4.00 20342035 6,924,880 1.00% 8,000 2,200 - - 2,361 2,653 2,864 5,335 3,146 1,138 17,497 17,497 27,697 1.16 0.32 - - 0.34 0.38 0.41 0.77 0.45 0.16 2.53 - 2.53 4.00 20352036 6,994,128 1.00% 8,000 2,200 - - - 3,184 3,390 3,512 3,670 4,018 17,774 17,774 27,974 1.14 0.31 - - - 0.46 0.48 0.50 0.52 0.57 2.54 - 2.54 4.00 20362037 7,064,070 1.00% 8,000 2,200 - - - 3,236 3,443 3,565 3,726 4,082 18,052 18,052 28,252 1.13 0.31 - - - 0.46 0.49 0.50 0.53 0.58 2.56 - 2.56 4.00 20372038 7,134,710 1.00% 8,000 2,200 - - - - 4,325 6,888 4,607 2,516 18,336 18,336 28,536 1.12 0.31 - - - - 0.61 0.97 0.65 0.35 2.57 - 2.57 4.00 20382039 7,206,058 1.00% 8,000 2,200 - - - - - - 2,007 2,493 4,500 4,500 14,700 1.11 0.31 - - - - - - 0.28 0.35 0.62 - 0.62 2.04 20392040 7,278,118 1.00% 8,000 2,200 - - - - - - 2,084 2,564 4,648 4,648 14,848 1.10 0.30 - - - - - - 0.29 0.35 0.64 - 0.64 2.04 20402041 7,350,899 1.00% 8,000 2,200 - - - - - - 2,157 2,638 4,795 4,795 14,995 1.09 0.30 - - - - - - 0.29 0.36 0.65 - 0.65 2.04 20412042 7,424,408 1.00% 8,000 2,200 - - - - - - - 4,943 4,943 4,943 15,143 1.08 0.30 - - - - - - - 0.67 0.67 - 0.67 2.04 20422043 7,498,652 1.00% 8,000 2,200 - - - - - - - 5,093 5,093 5,093 15,293 1.07 0.29 - - - - - - - 0.68 0.68 - 0.68 2.04 20432044 7,573,639 1.00% 8,000 2,200 - - - - - - - - - - 10,200 1.06 0.29 - - - - - - - - - - - 1.35 2044
Total Debt Service $32,605 $36,229 $38,341 $57,003 $55,275 $57,059 $276,511Total Interest $11,535 $15,164 $17,276 $23,198 $21,470 $23,259 $111,901Bond Yield 4.38% 4.79% 5.05% 4.33% 4.79% 4.85%Run Date: 5.27.15
- School Tax Rate in 2017 = $4 per $1,000 AV
Bainbridge Island School District No. 303Scenario 3: February 2016 Election, $63.2 million, 3 Sales, February 2019 Election, $101.41 million, 3 Sales, Wrapped Level Levy Rate
Calculation Factors Tax Rate Impact:- Bond Tax Rate in 2017 = $1.94 per $1,000 AV
0.20%
9.16%
1.00%
Assessed Value Summary ($000's) Levy Amount Detail ($000's) Levy Rate Detail
NOTES:- QSCB/BAB reimbursements reflect 7.2% reduction- Debt Service reflects sinking funds payments for the QSCB
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
2040
2041
2042
2043
-
1.00
2.00
3.00
4.00
5.00
Projected Tax Rates - Scenario 3$164.6M Wrapped Level Tax Rate
Levy / $1000 Assessed Value
Existing Bonds 2016 Bonds 2017 Bonds 2018 Bonds M&O LevyTech Levy 2019 Bonds 2021 Bonds 2023 Bonds
Rating: Aa2 Moody's Rating
Interest Rates: Current Rates plus 150 bps
Assessed Value Increases at:
Actual 2014
Actual 2015
Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Issue 6 TotalBonds Issued: 6/1/16 12/1/17 12/1/18 6/1/2019 12/1/2021 12/1/2023Issue Size: $21.070M $21.065M ######### $33.805M $33.805M $33.800M $164.61MTerm (years): 19.5 20.0 20.0 19.5 20.0 20.0
Year Bond AV
Bond AV Growth
Rate M&O Levy
Tech. Levy
($000's) Prior Debt
Fed. Reimb. Pymt 2016 2017 2018 2019 2021 2023
Total New Bonds
Debt Service
Fund Incr/
(Decr)
Total Bond Levy
Total School
LevyM&O Levy
Tech. Levy
Prior Debt
Fed. Reimb. Pymt 2016 2017 2018 2019 2021 2023
Total New
Bonds
Debt Service
Fund Incr/
(Decr)Total
Bonds
Total School
Levy Rate Year
2000 2,391,309 N/A 4,625 - 7,510 7,510 12,135 1.96 - 3.18 3.18 5.13 20002001 2,765,808 15.66% 4,846 - 5,389 5,389 10,235 1.75 - 1.95 1.95 3.70 20012002 3,094,510 11.88% 4,959 - 8,156 8,156 13,114 1.60 - 2.64 2.64 4.24 20022003 3,594,607 16.16% 5,284 - 5,330 5,330 10,614 1.47 - 1.48 1.48 2.95 20032004 3,648,243 1.49% 5,584 - 5,300 5,300 10,884 1.53 - 1.45 1.45 2.98 20042005 3,958,862 8.51% 5,899 - 5,049 5,049 10,948 1.49 - 1.28 1.28 2.77 20052006 4,722,824 19.30% 6,199 - 5,400 5,400 11,598 1.31 - 1.14 1.14 2.46 20062007 5,628,928 19.19% 6,607 1,525 8,834 8,834 16,966 1.17 0.27 1.57 1.57 3.01 20072008 6,577,671 16.85% 7,061 1,525 7,499 7,499 16,086 1.07 0.23 1.14 1.14 2.45 20082009 6,778,093 3.05% 7,507 1,525 7,800 7,800 16,832 1.11 0.22 1.15 1.15 2.48 20092010 6,207,278 -8.42% 7,966 1,525 7,750 - 7,750 17,241 1.28 0.25 1.25 1.25 2.78 20102011 5,603,072 -9.73% 8,932 900 6,200 - - 6,200 16,032 1.59 0.16 1.11 1.11 2.86 20112012 5,349,046 -4.53% 8,732 1,325 7,100 - - 7,100 17,157 1.63 0.25 1.33 1.33 3.21 20122013 5,188,972 -2.99% 8,705 1,525 7,100 (926) - 7,100 17,330 1.68 0.29 1.37 1.37 3.34 20132014 5,199,203 0.20% 8,905 1,525 8,243 (926) - - - - - - - 183 7,500 17,930 1.71 0.29 1.59 (0.18) - - - - - - - 0.04 1.44 3.45 20142015 5,675,247 9.16% 9,519 2,200 8,215 (926) - - - - - - - (289) 7,000 18,719 1.68 0.39 1.45 (0.16) - - - - - - - (0.05) 1.23 3.30 20152016 5,731,999 1.00% 9,600 2,200 8,203 (926) - - - - - - - 7,277 19,077 1.67 0.38 1.43 (0.16) - - - - - - - - 1.27 3.33 20162017 5,789,319 1.00% 9,700 2,200 7,943 (926) 1,731 - - - - - 1,731 - 8,747 20,647 1.68 0.38 1.37 (0.16) 0.30 - - - - - 0.30 - 1.51 3.57 20172018 5,847,212 1.00% 8,000 2,200 7,960 (926) 1,733 1,650 - - - - 3,383 10,417 20,617 1.37 0.38 1.36 (0.16) 0.30 0.28 - - - - 0.58 - 1.78 3.53 20182019 5,905,685 1.00% 8,000 2,200 8,052 (926) 1,732 1,654 1,650 - - - 5,036 12,161 22,361 1.35 0.37 1.36 (0.16) 0.29 0.28 0.28 - - - 0.85 - 2.06 3.79 20192020 5,964,741 1.00% 8,000 2,200 8,270 (926) 1,732 1,650 1,654 2,781 - - 7,816 15,160 25,360 1.34 0.37 1.39 (0.16) 0.29 0.28 0.28 0.47 - - 1.31 - 2.54 4.25 20202021 6,024,389 1.00% 8,000 2,200 8,330 (918) 1,734 1,652 1,650 2,780 - - 7,816 15,227 25,427 1.33 0.37 1.38 (0.15) 0.29 0.27 0.27 0.46 - - 1.30 - 2.53 4.22 20212022 6,084,633 1.00% 8,000 2,200 8,204 (909) 1,734 1,652 1,652 2,781 2,649 - 10,468 17,763 27,963 1.31 0.36 1.35 (0.15) 0.28 0.27 0.27 0.46 0.44 - 1.72 - 2.92 4.60 20222023 6,145,479 1.00% 8,000 2,200 8,167 (897) 1,735 1,649 1,652 2,780 2,649 - 10,466 17,735 27,935 1.30 0.36 1.33 (0.15) 0.28 0.27 0.27 0.45 0.43 - 1.70 - 2.89 4.55 20232024 6,206,934 1.00% 8,000 2,200 8,401 (885) 1,733 1,654 1,649 2,781 2,653 2,649 13,120 20,635 30,835 1.29 0.35 1.35 (0.14) 0.28 0.27 0.27 0.45 0.43 0.43 2.11 - 3.32 4.97 20242025 6,269,003 1.00% 8,000 2,200 8,524 (873) 1,733 1,651 1,654 2,777 2,651 2,648 13,115 20,766 30,966 1.28 0.35 1.36 (0.14) 0.28 0.26 0.26 0.44 0.42 0.42 2.09 - 3.31 4.94 20252026 6,331,693 1.00% 8,000 2,200 7,313 (863) 1,735 1,654 1,651 2,778 2,651 2,653 13,122 19,572 29,772 1.26 0.35 1.15 (0.14) 0.27 0.26 0.26 0.44 0.42 0.42 2.07 - 3.09 4.70 20262027 6,395,010 1.00% 8,000 2,200 5,631 (827) 1,732 1,650 1,654 2,779 2,652 2,651 13,119 17,923 28,123 1.25 0.34 0.88 (0.13) 0.27 0.26 0.26 0.43 0.41 0.41 2.05 - 2.80 4.40 20272028 6,458,960 1.00% 8,000 2,200 2,283 (768) 1,731 1,652 1,650 2,780 2,648 2,651 13,112 14,627 24,827 1.24 0.34 0.35 (0.12) 0.27 0.26 0.26 0.43 0.41 0.41 2.03 - 2.26 3.84 20282029 6,523,550 1.00% 8,000 2,200 8,032 (442) 1,735 1,650 1,652 2,781 2,650 2,652 13,119 20,709 30,909 1.23 0.34 1.23 (0.07) 0.27 0.25 0.25 0.43 0.41 0.41 2.01 - 3.17 4.74 20292030 6,588,785 1.00% 8,000 2,200 486 - 1,734 1,650 1,650 2,780 2,651 2,648 13,113 13,599 23,799 1.21 0.33 0.07 - 0.26 0.25 0.25 0.42 0.40 0.40 1.99 - 2.06 3.61 20302031 6,654,673 1.00% 8,000 2,200 484 - 1,733 1,650 1,650 2,782 2,648 2,649 13,113 13,597 23,797 1.20 0.33 0.07 - 0.26 0.25 0.25 0.42 0.40 0.40 1.97 - 2.04 3.58 20312032 6,721,220 1.00% 8,000 2,200 487 - 1,730 1,650 1,650 2,782 2,650 2,651 13,113 13,600 23,800 1.19 0.33 0.07 - 0.26 0.25 0.25 0.41 0.39 0.39 1.95 - 2.02 3.54 20322033 6,788,432 1.00% 8,000 2,200 489 - 1,731 1,654 1,650 2,780 2,650 2,648 13,112 13,601 23,801 1.18 0.32 0.07 - 0.26 0.24 0.24 0.41 0.39 0.39 1.93 - 2.00 3.51 20332034 6,856,316 1.00% 8,000 2,200 - - 1,730 1,651 1,654 2,777 2,648 2,649 13,109 13,109 23,309 1.17 0.32 - - 0.25 0.24 0.24 0.41 0.39 0.39 1.91 - 1.91 3.40 20342035 6,924,880 1.00% 8,000 2,200 - - 1,730 1,652 1,651 2,778 2,651 2,649 13,111 13,111 23,311 1.16 0.32 - - 0.25 0.24 0.24 0.40 0.38 0.38 1.89 - 1.89 3.37 20352036 6,994,128 1.00% 8,000 2,200 - - - 1,654 1,652 2,778 2,652 2,648 11,384 11,384 21,584 1.14 0.31 - - - 0.24 0.24 0.40 0.38 0.38 1.63 - 1.63 3.09 20362037 7,064,070 1.00% 8,000 2,200 - - - 1,652 1,654 2,780 2,648 2,650 11,385 11,385 21,585 1.13 0.31 - - - 0.23 0.23 0.39 0.37 0.38 1.61 - 1.61 3.06 20372038 7,134,710 1.00% 8,000 2,200 - - - - 1,652 2,781 2,653 2,652 9,738 9,738 19,938 1.12 0.31 - - - - 0.23 0.39 0.37 0.37 1.36 - 1.36 2.79 20382039 7,206,058 1.00% 8,000 2,200 - - - - - - 2,652 2,648 5,300 5,300 15,500 1.11 0.31 - - - - - - 0.37 0.37 0.74 - 0.74 2.15 20392040 7,278,118 1.00% 8,000 2,200 - - - - - - 2,650 2,648 5,298 5,298 15,498 1.10 0.30 - - - - - - 0.36 0.36 0.73 - 0.73 2.13 20402041 7,350,899 1.00% 8,000 2,200 - - - - - - 2,652 2,652 5,303 5,303 15,503 1.09 0.30 - - - - - - 0.36 0.36 0.72 - 0.72 2.11 20412042 7,424,408 1.00% 8,000 2,200 - - - - - - - 2,650 2,650 2,650 12,850 1.08 0.30 - - - - - - - 0.36 0.36 - 0.36 1.73 20422043 7,498,652 1.00% 8,000 2,200 - - - - - - - 2,652 2,652 2,652 12,852 1.07 0.29 - - - - - - - 0.35 0.35 - 0.35 1.71 20432044 7,573,639 1.00% 8,000 2,200 - - - - - - - - - - 10,200 1.06 0.29 - - - - - - - - - - - 1.35 2044
Total Debt Service $32,917 $33,031 $33,031 $52,816 $53,008 $52,999 $257,802Total Interest $11,847 $11,966 $11,966 $19,011 $19,203 $19,199 $93,192Bond Yield 4.37% 4.35% 4.22% 4.04% 4.73% 4.73%Run Date: 5.27.15
- School Tax Rate in 2017 = $3.57 per $1,000 AV
Bainbridge Island School District No. 303Scenario 4: February 2016 Election, $63.2 million, 3 Sales, February 2019 Election, $101.41 million, 3 Sales, Level Debt Service
Calculation Factors Tax Rate Impact:- Bond Tax Rate in 2017 = $1.51 per $1,000 AV
0.20%
9.16%
1.00%
Assessed Value Summary ($000's) Levy Amount Detail ($000's) Levy Rate Detail
NOTES:- QSCB/BAB reimbursements reflect 7.2% reduction- Debt Service reflects sinking funds payments for the QSCB
59
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
2040
2041
2042
2043
-
1.00
2.00
3.00
4.00
5.00
Projected Tax Rates - Scenario 4$164.6M Level Debt ServiceLevy / $1000 Assessed Value
Existing Bonds 2016 Bonds 2017 Bonds 2018 Bonds M&O LevyTech Levy 2019 Bonds 2021 Bonds 2023 Bonds
60
Rating: Aa2 Moody's Rating
Interest Rates: Current Rates plus 150 bps
Assessed Value Increases at:
Actual 2014
Actual 2015
Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Issue 6 TotalBonds Issued: 6/1/16 12/1/17 12/1/18 6/1/2019 12/1/2021 12/1/2023Issue Size: $21.070M $21.065M ######### $33.805M $33.805M $33.800M $164.61MTerm (years): 19.5 20.0 20.0 19.5 20.0 20.0
Year Bond AV
Bond AV Growth
Rate M&O Levy
Tech. Levy
($000's) Prior Debt
Fed. Reimb. Pymt 2016 2017 2018 2019 2021 2023
Total New Bonds
Debt Service
Fund Incr/
(Decr)
Total Bond Levy
Total School
LevyM&O Levy
Tech. Levy
Prior Debt
Fed. Reimb. Pymt 2016 2017 2018 2019 2021 2023
Total New
Bonds
Debt Service
Fund Incr/
(Decr)Total
Bonds
Total School
Levy Rate Year
2000 2,391,309 N/A 4,625 - 7,510 7,510 12,135 1.96 - 3.18 3.18 5.13 20002001 2,765,808 15.66% 4,846 - 5,389 5,389 10,235 1.75 - 1.95 1.95 3.70 20012002 3,094,510 11.88% 4,959 - 8,156 8,156 13,114 1.60 - 2.64 2.64 4.24 20022003 3,594,607 16.16% 5,284 - 5,330 5,330 10,614 1.47 - 1.48 1.48 2.95 20032004 3,648,243 1.49% 5,584 - 5,300 5,300 10,884 1.53 - 1.45 1.45 2.98 20042005 3,958,862 8.51% 5,899 - 5,049 5,049 10,948 1.49 - 1.28 1.28 2.77 20052006 4,722,824 19.30% 6,199 - 5,400 5,400 11,598 1.31 - 1.14 1.14 2.46 20062007 5,628,928 19.19% 6,607 1,525 8,834 8,834 16,966 1.17 0.27 1.57 1.57 3.01 20072008 6,577,671 16.85% 7,061 1,525 7,499 7,499 16,086 1.07 0.23 1.14 1.14 2.45 20082009 6,778,093 3.05% 7,507 1,525 7,800 7,800 16,832 1.11 0.22 1.15 1.15 2.48 20092010 6,207,278 -8.42% 7,966 1,525 7,750 - 7,750 17,241 1.28 0.25 1.25 1.25 2.78 20102011 5,603,072 -9.73% 8,932 900 6,200 - - 6,200 16,032 1.59 0.16 1.11 1.11 2.86 20112012 5,349,046 -4.53% 8,732 1,325 7,100 - - 7,100 17,157 1.63 0.25 1.33 1.33 3.21 20122013 5,188,972 -2.99% 8,705 1,525 7,100 (926) - 7,100 17,330 1.68 0.29 1.37 1.37 3.34 20132014 5,199,203 0.20% 8,905 1,525 8,243 (926) - - - - - - - 183 7,500 17,930 1.71 0.29 1.59 (0.18) - - - - - - - 0.04 1.44 3.45 20142015 5,675,247 9.16% 9,519 2,200 8,215 (926) - - - - - - - (289) 7,000 18,719 1.68 0.39 1.45 (0.16) - - - - - - - (0.05) 1.23 3.30 20152016 5,731,999 1.00% 9,600 2,200 8,203 (926) - - - - - - - 7,277 19,077 1.67 0.38 1.43 (0.16) - - - - - - - - 1.27 3.33 20162017 5,789,319 1.00% 9,700 2,200 7,943 (926) 1,401 - - - - - 1,401 - 8,418 20,318 1.68 0.38 1.37 (0.16) 0.24 - - - - - 0.24 - 1.45 3.51 20172018 5,847,212 1.00% 8,000 2,200 7,960 (926) 2,234 1,048 - - - - 3,283 10,317 20,517 1.37 0.38 1.36 (0.16) 0.38 0.18 - - - - 0.56 - 1.76 3.51 20182019 5,905,685 1.00% 8,000 2,200 8,052 (926) 1,286 1,048 1,065 - - - 3,399 10,524 20,724 1.35 0.37 1.36 (0.16) 0.22 0.18 0.18 - - - 0.58 - 1.78 3.51 20192020 5,964,741 1.00% 8,000 2,200 8,270 (926) 2,239 1,048 1,065 2,789 - - 7,142 14,485 24,685 1.34 0.37 1.39 (0.16) 0.38 0.18 0.18 0.47 - - 1.20 - 2.43 4.14 20202021 6,024,389 1.00% 8,000 2,200 8,330 (918) 2,951 1,048 1,065 2,258 - - 7,322 14,734 24,934 1.33 0.37 1.38 (0.15) 0.49 0.17 0.18 0.37 - - 1.22 - 2.45 4.14 20212022 6,084,633 1.00% 8,000 2,200 8,204 (909) 1,425 1,048 1,065 1,880 2,275 - 7,693 14,988 25,188 1.31 0.36 1.35 (0.15) 0.23 0.17 0.18 0.31 0.37 - 1.26 - 2.46 4.14 20222023 6,145,479 1.00% 8,000 2,200 8,167 (897) 1,156 1,048 1,065 1,935 2,764 - 7,968 15,237 25,437 1.30 0.36 1.33 (0.15) 0.19 0.17 0.17 0.31 0.45 - 1.30 - 2.48 4.14 20232024 6,206,934 1.00% 8,000 2,200 8,401 (885) 815 1,048 1,065 1,846 1,587 1,618 7,980 15,496 25,696 1.29 0.35 1.35 (0.14) 0.13 0.17 0.17 0.30 0.26 0.26 1.29 - 2.50 4.14 20242025 6,269,003 1.00% 8,000 2,200 8,524 (873) 837 1,053 1,065 1,710 1,815 1,618 8,098 15,749 25,949 1.28 0.35 1.36 (0.14) 0.13 0.17 0.17 0.27 0.29 0.26 1.29 - 2.51 4.14 20252026 6,331,693 1.00% 8,000 2,200 7,313 (863) 1,078 1,398 1,065 1,847 2,554 1,618 9,560 16,010 26,210 1.26 0.35 1.15 (0.14) 0.17 0.22 0.17 0.29 0.40 0.26 1.51 - 2.53 4.14 20262027 6,395,010 1.00% 8,000 2,200 5,631 (827) 1,392 1,714 1,065 3,549 2,133 1,618 11,470 16,274 26,474 1.25 0.34 0.88 (0.13) 0.22 0.27 0.17 0.55 0.33 0.25 1.79 - 2.54 4.14 20272028 6,458,960 1.00% 8,000 2,200 2,283 (768) 1,981 2,304 1,065 5,325 2,728 1,618 15,020 16,536 26,736 1.24 0.34 0.35 (0.12) 0.31 0.36 0.16 0.82 0.42 0.25 2.33 - 2.56 4.14 20282029 6,523,550 1.00% 8,000 2,200 8,032 (442) 1,009 1,334 1,065 2,426 1,762 1,618 9,214 16,804 27,004 1.23 0.34 1.23 (0.07) 0.15 0.20 0.16 0.37 0.27 0.25 1.41 - 2.58 4.14 20292030 6,588,785 1.00% 8,000 2,200 486 - 2,235 2,556 1,065 3,859 3,951 2,923 16,588 17,074 27,274 1.21 0.33 0.07 - 0.34 0.39 0.16 0.59 0.60 0.44 2.52 - 2.59 4.14 20302031 6,654,673 1.00% 8,000 2,200 484 - 2,283 2,601 2,790 2,846 3,003 3,343 16,864 17,348 27,548 1.20 0.33 0.07 - 0.34 0.39 0.42 0.43 0.45 0.50 2.53 - 2.61 4.14 20312032 6,721,220 1.00% 8,000 2,200 487 - 2,315 2,663 2,865 2,851 3,050 3,391 17,135 17,622 27,822 1.19 0.33 0.07 - 0.34 0.40 0.43 0.42 0.45 0.50 2.55 - 2.62 4.14 20322033 6,788,432 1.00% 8,000 2,200 489 - 2,374 2,688 2,906 2,898 3,099 3,447 17,412 17,900 28,100 1.18 0.32 0.07 - 0.35 0.40 0.43 0.43 0.46 0.51 2.56 - 2.64 4.14 20332034 6,856,316 1.00% 8,000 2,200 - - 2,495 2,810 3,035 3,028 3,228 3,588 18,183 18,183 28,383 1.17 0.32 - - 0.36 0.41 0.44 0.44 0.47 0.52 2.65 - 2.65 4.14 20342035 6,924,880 1.00% 8,000 2,200 - - 2,534 2,855 3,081 3,076 3,288 3,634 18,468 18,468 28,668 1.16 0.32 - - 0.37 0.41 0.44 0.44 0.47 0.52 2.67 - 2.67 4.14 20352036 6,994,128 1.00% 8,000 2,200 - - - 3,422 3,643 3,639 3,844 4,205 18,752 18,752 28,952 1.14 0.31 - - - 0.49 0.52 0.52 0.55 0.60 2.68 - 2.68 4.14 20362037 7,064,070 1.00% 8,000 2,200 - - - 3,478 3,695 3,691 3,909 4,268 19,041 19,041 29,241 1.13 0.31 - - - 0.49 0.52 0.52 0.55 0.60 2.70 - 2.70 4.14 20372038 7,134,710 1.00% 8,000 2,200 - - - - 4,645 4,632 4,849 5,211 19,338 19,338 29,538 1.12 0.31 - - - - 0.65 0.65 0.68 0.73 2.71 - 2.71 4.14 20382039 7,206,058 1.00% 8,000 2,200 - - - - - - 1,493 1,851 3,344 3,344 13,544 1.11 0.31 - - - - - - 0.21 0.26 0.46 - 0.46 1.88 20392040 7,278,118 1.00% 8,000 2,200 - - - - - - 1,558 1,924 3,482 3,482 13,682 1.10 0.30 - - - - - - 0.21 0.26 0.48 - 0.48 1.88 20402041 7,350,899 1.00% 8,000 2,200 - - - - - - 1,620 1,997 3,618 3,618 13,818 1.09 0.30 - - - - - - 0.22 0.27 0.49 - 0.49 1.88 20412042 7,424,408 1.00% 8,000 2,200 - - - - - - - 3,753 3,753 3,753 13,953 1.08 0.30 - - - - - - - 0.51 0.51 - 0.51 1.88 20422043 7,498,652 1.00% 8,000 2,200 - - - - - - - 3,893 3,893 3,893 14,093 1.07 0.29 - - - - - - - 0.52 0.52 - 0.52 1.88 20432044 7,573,639 1.00% 8,000 2,200 - - - - - - - - - - 10,200 1.06 0.29 - - - - - - - - - - - 1.35 2044
Total Debt Service $34,042 $38,212 $39,440 $56,086 $54,509 $57,133 $279,422Total Interest $12,972 $17,147 $18,375 $22,281 $20,704 $23,333 $114,812Bond Yield 4.44% 5.01% 5.07% 4.33% 4.78% 4.86%Run Date: 5.27.15
0.20%
9.16%
1.00%
Assessed Value Summary ($000's) Levy Amount Detail ($000's) Levy Rate Detail
- School Tax Rate in 2017 = $3.51 per $1,000 AV
Bainbridge Island School District No. 303Scenario 5: February 2016 Election, $63.2 million, 3 Sales, February 2019 Election, $101.41 million, 3 Sales, Wrapped Level Levy Rate, Initial rate 3.51
Calculation Factors Tax Rate Impact:- Bond Tax Rate in 2017 = $1.45 per $1,000 AV
NOTES:- QSCB/BAB reimbursements reflect 7.2% reduction- Debt Service reflects sinking funds payments for the QSCB
61
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
2040
2041
2042
2043
-
1.00
2.00
3.00
4.00
5.00
Projected Tax Rates - Scenario 5$164.6M Wrapped Level Tax Rate with Step-Up
Levy / $1000 Assessed Value
Existing Bonds 2016 Bonds 2017 Bonds 2018 Bonds M&O Levy Tech Levy 2019 Bonds 2021 Bonds 2023 Bonds
DISCUSSION :: Next Steps
Next Steps:: Blakely Educational Specifications:: D-1 State Match:: BHS 100 Building Classrooms - $7.2M (PP&R)
Educational SpecificationsProgram (Special Education, Learning Strategies, Drafting,
Composite Engineering, Wood Tech, Art, FASCE)Adjacencies/SitePerforming Arts (Guitar, Choir, Drama)
:: Central campus assessment:: Ordway and Commodore
Interim Functional Equity:: Communication:: Community involvement:: Tax implications:: Board decision-October/February
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