Kentucky School Facilities Construction Commission Overview
The School Facilities Construction Commission in Kentucky plays a crucial role in providing equitable distribution of funds for capital construction and renovation projects, as well as purchasing new technology for schools. With a history dating back to 1985, the SFCC has supported numerous school bond issues and projects amounting to billions of dollars, significantly impacting the educational infrastructure in the state. The commission offers assistance to school districts based on their unmet facility needs, striving to address the $6.1 billion total unmet school facility need in 2021.
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School Facilities Construction Commission Chelsey Couch, Executive Director Kristi Russell, Senior Financial Analyst
Kentucky School Districts Number of school districts: 171 Number of public schools: 1,477 Preschool 39 Elementary (preschool-6th grade) 657 Elementary/middle (any combination of P-6 and 6-8) 74 Middle (6-8) 202 Middle/high (any combination of 6-8 and 9-12) 179 High (9-12) 255 P-12 (any combination of P-6 and 6-8 and 9-12) 71 Number of public school students: 638,236
School Facilities Construction Commission Provides Kentucky s 171 school districts with an equitable distribution of funds (1) for capital construction and renovation projects based upon unmet facility need and (2) to purchase new technology under the Kentucky Education Technology System (KETS) program. Since inception in 1985, the SFCC has participated in nearly 2,600 school bond issues, totaling $12 billion. Of the total par amount, $3.8 billion was supported by SFCC debt service payments and $8.2 billion was supported by resources of the local school districts.
SFCC Offers of Assistance A District s unmet need is determined by: Total facility need Local available revenues Unmet facility need For 2021, Kentucky s total unmet school facility need was $6.1 billion.
Construction Apr-22 Middle School School Renovation/Addition 62,678 sqft Total: $24,650,822 $393.29/sqft Sep-22 Preschool Single Story New Construction, Site Development , Geothermal 43,675 sqft Total: $21,209,398 $485.61/sqft Dec-22 Middle School Single Story Addition, ICF Walls, NO Kitchen, Geothermal, Addition, Joist and Deck, Curtainwall 55,00 sqft Total: $24,231,530 $440.57/sqft
Bonding Scenario Interest Rates 02/2022 - 02/2023 5 4.53 4.41 Sale Date: 2/7/2023 4.33 4.5 4.07 4 Par Amount: $38,750,000 3.51 3.5 3.71 Term: 20 Years 3 2.5 2.75 SFCC Participation: $4,665,107 2 Local Participation: $34,084,893 Interest Rate: 3.97% District Portion SFCC Portion Principal $433,557.00 Interest $1,443,994.68 FY Total $1,877,551.68 Principal $141,443.00 Interest $213,705.32 FY Total $355,148.32 FY23 FY23
Special Offers of Assistance- 21 RS HB556.18 Local Area Vocational Education Centers $75,000,000 Magoffin Co $4,369,318 Christian Co $10,000,000 Bardstown Ind. $10,000,000 Johnson Co $10,000,000 Lawrence Co $9,280,350 Fayette Co $10,000,000 Knox Co $10,000,000 Trigg Co $10,000,000 Ballard Co $68,896
Special Offers of Assistance- 22 RS HB1 Bath County Bath County MS $ 7,146,500 Bellevue Ind. Grandview ES $ 12,726,200 Boyd County Cannonsburg ES $ 11,477,300 Breckinridge County Breckinridge County MS $ 14,659,900 Campbell County Grants Lick ES $ 9,073,900 Campbellsville Ind. Campbellsville MS $ 12,300,000 Carter County East Carter HS $ 27,375,000 Cumberland County Cumberland County ES $ 13,163,100 Floyd County Duff-Allen Central ES $ 10,975,500 Grant County Dry Ridge ES $ 7,283,900 Jackson County Jackson County MS $ 10,853,000 Ludlow Ind. Ludlow HS $ 23,010,000 Martin County Inez ES $ 17,475,000 Mayfield Ind. Mayfield HS $ 10,686,200 Pendleton County Phillips Sharp MS $ 8,131,300 $ 196,336,800
Special Offers of Assistance 22 RS HB1 Local Area Vocational Education Center Renovation Projects Bath County Schools $ 5,154,300 Henderson County Schools $ 3,983,600 Boone County Schools $ 4,763,200 Jefferson County Schools $ 6,811,000 Bowling Green Ind. Schools $ 8,332,300 Lewis County Schools $ 10,000,000 Boyd County Schools $ 10,000,000 Livingston County Schools $ 5,687,000 Carter County Schools $ 10,000,000 Marshall County Schools $ 9,590,200 Covington Ind. Schools $ 4,925,000 McCreary County Schools $ 3,888,400 Edmonson County Schools $ 10,000,000 Nelson County Schools $ 10,000,000 Fleming County Schools $ 9,569,200 Newport Ind. Schools $ 2,145,300 Grant County Schools $ 2,734,300 Simposon County $ 4,033,400 Grayson County Schools $ 10,000,000 Taylor County Schools $ 6,662,700 Green County Schools $ 6,738,200 Union County Schools $ 8,582,500 Hardin County Schools $ 2,032,200 $ 155,632,800
Special Offers of Assistance 22 RS HB 1 Pike County Schools, Pike County ATC $14,661,000 HB 604 Rockcastle County Schools, Rockcastle MS $4,000,000
