Portola Middle School and Gompers/Leadership Public Schools OPSC Funding Status Update

Portola Middle School Estimated State Funding -- $14.3M – Seismic and modernization requests – No bonding authority reserved; seismic conceptual approval on 3/23/11 Funding requests submitted upon CDE/DSA approval – Approvals anticipated 1-2 weeks (maybe sooner) – Preparing submittal in anticipation of agency approvals

Gompers/LPS LPS – Current estimated State funding $13.4M includes January 2012 construction cost index adjustment of 3.76% Includes $3M loan component Preliminary apportionment on 5/28/08; bond authority reserved up to maximum of $15.3M – Funding requests submitted upon CDE/DSA approval Approvals anticipated end of February Applicant switch has been submitted Preparing submittal in anticipation of agency approvals Strategize timing of submittal to maximize funding; balance with availability of funds for Gompers

Gompers/LPS LPS – Advanced fund release option -- $2.4M Requires update to Charter financial soundness (received on 1/25/12) Requires executed Charter School Agreements which the District and LPS are working to finalize Submittal deadline is 5/2/12

Gompers/LPS Gompers – Estimated State Funding -- $1.8M Modernization request – Funding requests submitted upon CDE/DSA approval Approvals anticipated by end of February (same plan set as LPS) Preparing submittal in anticipation of agency approvals in coordination with LPS funding request

Other Funding Updates De Anza HS – Fund Released to District -- $13.3M Warrant issued on 2/2/12 Richmond HS and Nystrom ES – Unfunded approvals Richmond -- $11.5M Nystrom – $747K – Submitted to participate in current priority in funding round – State GO Bond sales scheduled for March and April 2012 Amounts and school facility share of sale to be determined Kennedy HS – Submitted to OPSC -- $6.1M

Thank you!