Bond Oversight Committee 2014 Bond Program
This content covers the activities of the Bond Oversight Committee regarding the 2014 Bond Program, including planning, program summaries, project statuses, comprehensive planning approaches, and the development of the Facilities Master Plan for the Bond 2018 Planning. It details key agenda items, such as project updates, communication plans, small business programs, debt service fund updates, and open feedback sessions. The Bond 2018 Planning involves evaluations of facilities utilization, construction projects, building conditions, and community engagement efforts. The Facilities Master Plan development includes assessments, educational specifications, building utilization studies, and recommendations for new buildings, boundaries, and program implementations.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Bond Oversight Committee 2014 Bond Program February 1, 2018
AGENDA 1. Welcome, Meeting Schedule Stewart Jacobson, Chair 2. Bond 2018 Planning Beth Martinez, Steve Bassett, Carolina Fuzetti 3. Program Summary Oscar Saenz Budget Indicator Zandra Becerra Program Status & Next Steps Oscar Saenz Projected Program Budget Carolina Fuzetti 4. Project Status Carolina Fuzetti Classroom Additions James Reese Career and Technology Education Center 5. Update on Other Projects (IT, Security) Long Pham, David Rider 6. Communication Plan Update Veronica Sopher 7. Small Business Program Carolina Fuzetti 8. Debt Service Fund Update Steve Bassett 9. Open Feedback from BOC Members Stewart Jacobson 2
COMPREHENSIVE APPROACH TO PLANNING Bond 2018 Planning Facilities Master Plan Recommended actions to address district s long-range facilities utilization Includes recommendations to evaluate boundaries, building additions, and/or construction of new schools Capital Plan Analysis of estimated costs to address construction of new buildings, building additions, major renovation, and major maintenance (lifecycle and deficiency) 2018 Bond Program Recommended projects selected from the comprehensive Capital Plan 3
BOND 2018 PLANNING Developing the Facilities Master Plan Facilities Assessment Performed by PBK Currently Underway, Estimated Completion by March 2018 Educational Adequacy Includes Development of FBISD Educational Specifications Building Condition Lifecycle and Deficiency Building Utilization Study Facilitated by Cooperative Strategies Begins January 2018, Estimated Completion by May 2018 30 Member Steering Committee Community Engagement Enrollment Projections Provided by PASA 4
BOND 2018 PLANNING Developing the Facilities Master Plan Consolidate Results of Facilities Assessment and Building Utilization Study Options and Recommendations Regarding: Construction of New Buildings and Additions Suggested New Boundaries Program Implementation, Expansion, and Relocation Facilities Master Planning process will not include drawing boundaries, but will include theoretical boundaries to be considered during future boundary processes 5
BOND 2018 PLANNING Developing the Capital Plan Components from the Facilities Assessment and Facilities Master Plan Identified other building construction/renovation needs Future Ready Schools Fine Arts Athletics 6
BOND 2018 PLANNING Bond Oversight Committee Meeting #5 and BOT Presentation #1 for Bond Planning June 2018 Safety & Security Master Plan Presentation to BOC and BOT February 2018 Bond Oversight Committee Meeting #3 and Facilities Master Plan Presentation (Part 1) to BOC and BOT April 2018 Form Bond Oversight Committee December 2017 Bond Election November 2018 Bond Oversight Committee Meeting #1 February 2018 Bond Oversight Committee Meeting #2 and Technology Master Plan Presentation to BOC and BOT March 2018 Bond Oversight Committee Meeting #4 and Facilities Master Plan Presentation (Part 2) to BOC and BOT May 2018 BOT Presentation #2 for Bond Planning July 2018 Community Engagement #2, Steering Committee #4 and #5, and Board Update April 2018 Steering Committee #2 and Community Engagement #1: Educational Framework February 2018 Building Utilization Study November/ December 2017 Steering Committee Meeting #3 and Board Update March 2018 Facilities Master Plan Update to the Board May 2018 Educational Futures Conference and Steering Committee #1 January 2018 7
BOND 2018 PLANNING Reimbursement Resolution Projects New Construction & Classroom Additions ES 51 Design Fees - HVAC Systems (including air handlers) Multiple Campuses Facility Enhancements - Hall Stadium Structural Issues - Mercer Stadium Light Standard Upgrades 8
BOND 2018 PLANNING PROGRAM MANAGEMENT 9
PROGRAM SUMMARY BUDGET INDICATOR As of December 2017 Total Bond: $484.2M $480M $400M Committed: $381.4M (78.8%) Cost to Date: $314.6M (65.0%) $300M Total Bond = $484.2M (100%) Committed = $381.4M (78.8%) $200M Cost To Date = $314.6M (65.0%) $100M 10
PROGRAM STATUS Overall Bond Program Approximately 79% Complete 100% Phase I 90% Phase II 80% Phase III Phase I Approximately 93% Complete 21 campuses are under construction 8 campuses are closing out and under warranty 70% 60% 50% Phase II Approximately 71% Complete 36 campuses are under construction 40% 30% 20% Phase III Approximately 10% Complete 29 campuses are being negotiated 7 campuses are under construction 1 campus is complete 10% 0% % Complete Note Phases Percent complete is based on cost to date 11
PROGRAM NEXT STEPS Phase I Close out all of the work Continue warranty period PHASE DESIGN CONSTRUCTION CLOSE/ WNTY SD DD CD BID CONST Phase II Complete construction phase Continue closing the projects I II Phase III Bid and award remaining bid packages Continue construction III LEGEND Complete In progress Next step 12
PROJECTED PROGRAM BUDGET Item Total Current Commitments/ Approved Change Orders $381.4M (A) Estimates/ Pending Change Orders* $87.3M (B) Total Projected Budget** $468.7M (C)=(A) + (B) 2014 Bond Budget $484.2M (D) Projected Bond Program Balance*** (E)=(D) - (C) $15.5M Notes: Data as of 12/31/2017 * Projected estimate to complete (based on estimates and pending commitments) ** Phase I and II total project budget excludes construction contingency balances ***Phase III total projected budget includes all construction contingency for projects that have not started construction 13
CLASSROOM ADDITIONS Activation Start Activation Complete RWS Architects, Inc. Teal Construction Company Cornerstone ES Schiff ES Complete Complete Complete Complete VLK Architects Bass Construction Co., Inc. Oyster Creek ES Sienna Crossing ES Complete Complete Complete Complete Cre8 Architects Teal Construction Company Holley ES Scanlan Oaks ES Feb 5 Feb 12 Complete Complete 14
NEW CONSTRUCTION Stantec Architects - Architect Bartlett Cocke, L.P. - General Contractor James Reese Career and Technical Education Center 15
James Reese Career and Technical Education Center CTE Center Groundbreaking ceremony was held on 11/8/17 Drill pier installation in progress Storm and sanitary underground piping installation in progress 16
TECHNOLOGY & SECURITY CAMERA UPDATE 17
TECHNOLOGY & SECURITY CAMERA UPDATE Wireless: ES campuses cabling: Phase 1(20/20), Phase 2/3 merged (23/25) Phase 1 remaining campuses: completed All ES campuses have power All campuses equipment has been ordered Phase 2 has 3 campuses left Phase 3 has 10 campuses left Colony Bend ES is on hold awaiting build out of an IT equipment room Seguin ES is on hold awaiting build out of campus Estimated completion: the end of summer 2018 Security Cameras: Cameras completed at all Phase 1 campus Cameras are being installed in Phase 2 campuses; estimated completion in May Phase 3 campuses will be installed beginning of summer and complete by the end of summer 2018 Storage 3 Petabytes (3,000 TB) storage is online It is estimated that 1-2 more PB will be needed for future video requirement 18
TECHNOLOGY & SECURITY CAMERA UPDATE 931 - 990 - DSTW WAN Cabling/Fiber 991 - DSTW Wireless Cabling/Fiber 992 - DSTW - WAN Contingency 993 - DSTW - Wireless Contingency 994 - DSTW - WAN Network Electronics 995 - DSTW - Wireless Electronics Infrastructure Cameras Total % of Budget Total Exp & Enc Amended Budget 90.5% 127.1% $4,484,902 $3,528,000 88.5% 5.8% 58.8% $965,480 $1,640,902 50.5% 84.2% 76.2% $5,035,878 $5,564,336 $3,501,581 $3,955,799 $74,248 $1,280,124 $6,305,092 $12,473,570 $13,934,378 $16,555,452 $34,301,559 $44,998,183 19
COMMUNICATIONS PLAN UPDATE Continued monthly status reports on www.fortbendisd.com/2014bond. Two-page feature on FBISD CTE programs and groundbreaking for the James Reese Career and Technical Education Center published in the January edition of the FBISD News Magazine, mailed to approximately 141,000 District addresses Publicity photos to celebrate new classroom additions at elementary campuses 20
SMALL BUSINESSINITIATIVE FBISD Small Business Enterprise Coordinator recognized as "R. A. Wiltz Minority Business Advocate of the Year Award" by Greater Houston Business Procurement Forum Committee. Fort Bend ISD Small BusinessEnterprise programresults: January 2018: Out of $277.5M approved construction budgets, $67.1M arefor SBE contractors (24%) Multiple events held on site to educate vendors on the process October 2017: Out of $259.8M in approved construction budgets, $58.1 are for SBE contractors (22%) Participation in various small business & chamber events throughout the metro area Board goal is 25% 21
DEBT SERVICE FUND UPDATE Summary of Outstanding Debt (As of 12-31-2017) Summary Statistics Principal Composition Total Outstanding Principal 944,361,940 $ 4.96% Total Fixed Rate Total Variable Rate 776,556,940 167,805,000 82.23% 17.77% 22.96% 32.98% Total Interest Payments 491,960,646 Callable Principal (%) 67.02% Percent of Principal Retired 39.10% w/in 5 years 23.91% w/in 10 years 54.13% Noncallable w/in 15 years 80.71% 32.98% Callable & Advance Refundable w/in 20 years 93.32% 39.10% Callable & Partially Advance Refundable w/in 25 years 100.00% 22.96% Callable & Non-Advance Refundable Final Maturity 8/15/2042 4.96% Underlying Ratings Voted Authorization Fitch AA+ Date Amount Issued Balance S&P AA+ 11/6/2007 428,000,000 $ 399,000,000 $ 29,000,000 $ 11/4/2014 484,000,000 $ 912,000,000 $ 260,000,000 $ 659,000,000 $ 224,000,000 $ 253,000,000 $ 22
DEBT SERVICE FUND UPDATE Variable Rate Debt - 17.77% of Total Debt Series 2015A $33,155,000 (2014 Bond) Due 8/01/18 (remarketed 8/01/16) Board approved $11 million pay down from DSF fund balance Series 2015B $40,395,000 (2014 Bond) Due 8/01/19 (remarketed 8/01/17) Series 2017C $45,000,000 (2007 & 2014 Bonds) Commercial Paper Refunding (Green) Due 8/01/20 Series 2017D $50,000,000 (2007 & 2014 Bonds) Commercial Paper Refunding Due 8/01/21 23
DEBT SERVICE FUND UPDATE 2018 Planned Transactions (through August) CTE Center $60 million taxable Refunding Commercial Paper $100 million (currently $40 million in place) Remarketing Series 2015A $33.1 million less $11 million (due to mature in 2022) Current Refunding 2008 bonds Timing based on district cash flows, market conditions, and balancing combining vs. underwriter management 24
Bond Oversight Committee 2014 Bond program
