GPISD Steering Committee Recommendation We are recommending to the Board of Trustees that the Board call for a $117 million bond election to be placed on the ballot for the May 9, 2015 election

This will fund the following initiatives New Elementary School – Grades Pre-K-5 New Middle School – Grades 6-8 New Career-Tech Center and additional classrooms at G-P High School Site acquisition for future schools Capitalization of school items: athletic and stadium improvements, technology, school buses, etc.

Age of Current Facilities CampusAgeRemaining Life Intermediate501-5 Junior High501-5 High School Central Office610 (10)

Age of Current Facilities CampusAgeRemaining Life Andrews3515 Austin Clark East Cliff570 (2)

Expected Future Attendance Fiscal YearAverage Daily Attendance

Economic and Demographic Growth TPCO America Cheniere Voestalpine La Quinta project Expansion of the Port of Corpus Christi

Debt Service Existing Interest & Sinking (Long Term Debt) tax rate is 0.18 for each $100 assessed property valuation The proposed debt service rate will remain the same at $0.18 This rate will not be affected by this bond proposal

Maintaining Debt Service Rate Increased Property Valuations State assistance (will decrease with increased district wealth) Three to Five Bond Series will be sold within the next seven years

Summary Aging facilities New Schools, Career/tech programs Athletic facilities State Funding Decline More Capital improvements by debt services Strong financial position

Summary With all of this in mind, we feel that the time is now to move forward with these improvements and allow the district to maintain its leadership position in education for the coastal bend area

Questions

FAQ Frequently asked questions

Breakdown of the Bond ProjectSquare FtEstimated CostSchedule of Construction *Education Complex at old East Cliff *$4,000, New Elementary at suitable site 92,500 sf$25,000, New Middle School at current site 210,000 sf$55,000, High School Addition62,500 sf$16,500, Ac. Site$1,000, Total$101,500,000 -$4,000,000 $97,500,000 Capitalization Item+$19,500,000 Total Bond$117,000,000

5 Year Capitalization Items ItemsAmount Athletic Uniforms$97,200 Band Instruments HS$387,000 Band Instruments JH$198,000 Video Technical$300,000 Health sciences$69,000 Secondary Music$151,200 Elementary Music$49,000 Theater$28,800 Technology$3,400,000 School Buses$1,452,000 Service Vehicles$150,000 HVAC Equipment$255,000 Furniture New Campuses$4,875,000 Maintenance Projects (short term, Athletics Restrooms, Concession Stands and Ticket booth) $8,087,600 Total$19,500,000

Expected Revenue and Recapture Fiscal YearEstimated RevenuesRecapture Amount 2013$30,914,55$0 2014$34,846,027$0 2015$32,658,486$0 2020$45,517,709($393,974) ,463,820($9,468,667) 2035$53,329,504($23,020,634)

Building New vs. Renovating The District asked DBR Engineering to estimate MEP improvements which would be required to extend the usable life of each campus by years

Building New vs. Renovating Average renovation cost 67% of new construction cost (per s.f.)* Average life expectancy of renovated campuses is 50% of new construction* *Specific calculations are available upon request

Reasons for Bond Recommendation Cost of building new vs. renovation Age of current facilities Expected future enrollment growth Expected increase in property tax values which should allow current tax rate to stay the same Multiple Series Bond