Item Coversheet

ALAMEDA UNIFIED SCHOOL DISTRICT
BOARD AGENDA ITEM


Item Title:Presentation for the Measure I Bond Program Schedule Options for Review and Request for Approval of Measure I Series A Issuance of $90,000,000 (15 Mins/Information)
Item Type:Information on Options for Schedules/Action on Series A Bond Issuance Amount
Background:

Through a lengthy community process, Staff recommended to the Board to maintain the two comprehensive high schools.  The Board took action at the February 24, 2015 board meeting to maintain two comprehensive high schools and modernize both sites using Measure I funds.

 

At the February 24, 2015 Board meeting, given the Board action of maintaining two high schools, the Board directed staff to return to a future board meeting with options regarding the priority of projects to be included in the bond program.

 

Staff returned on March 10 with a proposed restructure of the bond program schedule of projects.  The Board directed staff to continue to look at options.

 

Staff is returning tonight with five options:

Option 1: The Board-approved schedule on January 27th

Option 2: The revised schedule presented to the Board on March 10th

Option 3: New – condenses the K-8/Charter schedule and begins the high schools planning together but staggers construction

Option 4: New – condenses the K-8/Charter schedule and staggers the high schools planning and construction

Option 5: New – returns the K-8/Charter schedule to the original plan of January 27 and staggers both the planning and construction of the high schools

 

Each of the five schedule options are included in the presentation document.

 

Schedules are approved at a certain period in time. As variables change (e.g., cost of projects either below, on, or above budget, and other unknown outside drivers impacting the overall needs of the District), on occasion the needs of the schedule may change.  The proposed schedule places the two comprehensive high schools at the beginning of the overall Measure I Bond Program while still leaving AUSD able to address the highest priorities in the District.

 

The bond financing approved at a prior board meeting authorized District staff to issue Measure I Series A in the amount of $75,000,000.  Staff is now requesting the Board take action to increase that amount to $90,000,000 and issue Series A of Measure I in the increased amount.  

 

Goals:Create a system of attractive school options
Fund:
Fund Codes: 21 Building – Bond Fund
Fiscal Analysis

Amount (Savings) (Cost):


Series A Issuance of $90,000,000.00
Department Budget:
Recommendation:This item is presented for information only.
AUSD Guiding Principle:#6 - Allocation of funds must support our vision, mission, and guiding principles.
Submitted By:Robert Clark, Ed.D., Chief Business Officer

ATTACHMENTS:
DescriptionUpload DateType
Bond Presentation - Five Options3/18/2015Presentation