HS ADDN BOND

School District 834
(Official Publication)
DESCRIPTION OF PROPOSED SCHOOL CONSTRUCTION PROJECT
The Stillwater Independent District 834 is proposing a bond referendum on May 12, 2015 to finance a large high school addition and site improvements, a new 500 student elementary school and other facility and site improvements districtwide. The largest project component is a 72,500 square foot addition to the Stillwater High School that will accommodate the relocation of the 9th grade from the middle schools and provide additional space for 10 – 12th grade programming. Other proposed projects include: renovations at both middle schools; renovations, including some additions, on the elementary schools; the construction of a new transportation facility and playground / athletic field upgrades.
The total cost of the proposed projects, including bond issuance and capitalized interest is $106,530,000. The district plans to utilize $9,030,000 in proceeds from the sale of the Valley Crossing to fund a portion of the projects. The remaining amount will be financed by the issuance of $97,500,000 in general obligation bonds. The projects would be scheduled for completion in the 2016 – 2017 calendar years. Cost estimates by project type/location are as follows:
High School
* Additions
* Gymnasium 72,500 Square Feet $13,050,000
* 9th Grade 45,000 Square Feet $8,820,000
* Circulation Space 14,000 Square Feet $2,758,000
* 10-12th Science 10,000 Square Feet $2,500,000
* Cafeteria 7,500 Square Feet $1,575,000
* Renovations 27,500 Square Feet $5,687,500
* Site Improvements $2,200,000
* Fees / FF&E $9,094,936
* Contingency $1,829,525
$47,514,961
New Elementary School
* Construction 76,000 Square Feet $14,440,000
* Site Acquisition approx. 20 acres $3,000,000
* Fees / FF&E $4,519,818
* Contingency $523,200
$25,383,018
Athletic Upgrades
* Stadium Improvements $2,890,000
* Tennis Court Relocation $1,100,000
* Practice Fields $2,005,000
* Fees / FF&E / Contingencies $1,772,722
$7,767,722
Oak-Land Junior High
* Science Classroom Addition 1,600 Square feet $480,000
* HVAC Upgrades $1,400,000
* Renovations $175,000
* Site Improvements $245,000
* Fees / FF&E / Contingency $680,364
$2,980,364
Stillwater Junior High
* HVAC Upgrades $2,500,000
* Fees / FF&E / Contingency $739,512
$3,239,512
Afton-Lakeland Elementary School
* HVAC Upgrades $1,100,000
* Playground Improvements $101,000
* Renovations $25,000
* Fees / FF&E / Contingency $438,172
$1,664,172
Anderson Elementary
* Playground Improvements $101,000
* Renovations $25,000
* Fees / FF&E / Contingency $45,019
$171,019
Lake Elmo Elementary
* Playground Improvements $101,000
* HVAC Upgrades $1,350,00
* Renovations $1,150,000
* Fees / FF&E / Contingency $930,597
$3,531,597
Lilly Lake Elementary
* HVAC Upgrades $1,350,000
* Playground Improvements $101,000
* Renovations $25,000
* Fees / FF&E / Contingency $527,522
$2,003,522
Marine Elementary
* Playground Improvements $101,000
* Renovations $25,000
* Fees / FF&E / Contingency $45,019
$171,019
Oak Park Elementary
* HVAC Upgrades $1,100,000
* Playground Improvements $101,000
* Renovations $25,000
* Fees / FF&E / Contingency $438,042
$1,664,042
Rutherford Elementary
* Playground Improvements $101,000
* Fees / FF&E / Contingency $36,086
$137,086
Stonebridge Elementary
* Playground Improvements $101,000
* Renovations $25,000
* Fees / FF&E / Contingency $45,019
$171,019
Withrow Elementary
* Playground Improvements $101,000
* Renovations $25,000
* Fees / FF&E / Contingency $45,019
$171,019
Bus Terminal
* Construction $3,500,000

Bond Issuance Costs
* Capitalized Interest $5,317,281
* Bond Issuance $1,142,647
$6,459,928
If the bond referendum is successful and bonds are sold, the debt service on the bonds will be eligible for debt service equalization under Minn. Stat. 123B.53, subd. 3, if the bond schedule is approved. The amount of debt service equalization aid, if any, the district receives is determined annually and is dependent upon property wealth, student population, and other statutory requirements.
The school board believes they will have sufficient resources to fund the increase in costs associated with the proposed facility expansion and that the proposed projects are in the best interest of the district.
REVIEW AND COMMENT STATEMENT
Based upon the departments analysis of the school districts required documentation and other pertinent information from sources of the Minnesota Department of Education, the Commissioner of Education provides a positive review and comment.
ADDITIONAL INFORMATION IS AVAILABLE
Persons desiring additional information regarding this proposal should contact the school district superintendents office.
/s/ Brenda Cassellius
Dr. Brenda Cassellius
Commissioner
March 18, 2015
4/1-4/8/15, 3SG, HS Addn Bond Referendum, 370800

Comments Closed