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