MEASURE r Bond Project timeline February 13, 2018

MODERNIZATION PROJECTS SUMMARY OF SOURCES AVAILABLE TO FUND PROJECTS

NEW CONSTRUCTION PROJECTS SUMMARY OF FINANCING TO FUND PROJECTS

MEASURE R BOND PROJECTS SUMMARY COALINGA HURON Mods $4,524,979 $404,000 Mods $404,000 $1,629,761 $2,146,772 $2,325,000 New Construction $5,584,000 $5,832,000 New Construction $7,035,000 $5,832,000 Total $17,921,533 Total $17,795,979 9-12 Combined Students CTE Auto $5,017,140 All Students Board Approved: 1/30/18 Bus Barn Paving $500,000

PROJECTED TIMELINE KEY POINTS - MODERNIZATION Most Modernization projects are projected to be completed before the 2018-19 start of school year: DSA approval expected in March Bid process planned April, May Huron and Coalinga Middle School Chiller Yard Projects grouped together For Sunset and Chiller Yard projects, the procurement of the equipment will be bid early using piggyback contract; the bid will then be for installation of owner-supplied equipment. This is necessary to get the projects done before school starts. CHS Modernization will not be completed until approximately February 2019; alternate facilities will be used for the students during the construction period Huron Elementary Modernization are grouped with the Huron Academy and Huron Elementary classroom addition. The modernization project will likely span two separate summers since there is no place to temporarily house the students during the school year.

PROJECTED TIMELINE KEY POINTS – NEW CONSTRUCTION Huron Academy and Huron Elementary classroom addition will be grouped with Huron Elementary Modernization; construction estimated to begin in June 2018 and estimated completion August 2019. The CTE Academy at Coalinga (the Ag Farm), 50% funded by the CTE Facilities Grant, will start in June 2018 and be ready prior to the first day of school in August 2019. Although the Bishop and Dawson projects could also begin this summer and be ready prior to the first day of school in August 2019, we will not have the state matching funds necessary to start both of these projects, so one of them needs to have a delayed start date.

CERTIFICATES OF PARTICIPATION State matching funds will be used to pay off the COP. The timing of the payoff is not certain but the earliest possible date would be around 2021/22 Original Principal = $6,240,000 Interest only payments until 2019/20 = approximately $223,000 Starting in 2020/21, principal and interest payments are approximately $550,000 per year; last payment August 2034; no penalty for early payoff at any time.

NEW CONSTRUCTION projects action needed Determine the new construction project which will have a delayed start date until state matching funds are awarded. Approve contract with Mangini Associates for architect services related to the bus barn paving project on as-needed hourly basis, plus reimbursable expenses, for a total not to exceed $15,000. Approve Board Resolution 14/17-18 State Building Funds Application.

MEASURE R NEXT STEPS Staff will return to the Board as bids are obtained and provide updated project timelines and status reports throughout the process Staff will return to the Board in March with a bond sale proposal.