[{"_1":2,"_112":-5,"_113":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88,100],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6240718,"mediaKeyId","3318866-87e93ef49dfc2ec9d8e9e6b3f033b557","parentId",3318866,"title","Board hears financing plan for FMP 2.2; SAVE revenue borrowing could cover $119 million estimate","audioSeconds",1721,"startMs",842000,"endMs",2563000,"viewUrl","/Search/View?dp=1&key=3318866-87e93ef49dfc2ec9d8e9e6b3f033b557&start=842&end=2563","thumbnailUrl","https://assets.pipeline.soar.com/3318866-87e93ef49dfc2ec9d8e9e6b3f033b557/thumbnail_842000.jpg","articleUrl","/articles/6240718/Iowa/Board-hears-financing-plan-for-FMP-22-SAVE-revenue-borrowing-could-cover-119-million-estimate","mediaUrl","https://secure.pipeline.soar.com/6240718-4c24981b40ceefe05ef22587d66630ab/orig.mp4?Expires=1770978300&Signature=YSFQ9k4KVLs-NYxgOcV36F3-aT3nrvclxs98Meo-6kK9GSLan~rNyv3tOSAHmkkofmYNUmbszqMhpHR7DblA4aSPR1kJecXHym-X-Urg~h~YHvPCbzYRMuVPE~J5EgwKaZn-Oqm-6rN3X2VvQugjXfe-zbCNaiFq97ytm5zaQWePmceecxUcX8~EfEMYA13DUI0ZtLEa23aEuP3lVxryDSfCpCpB~EyIY0~bGHnBc7eHMcvtx0XTctWOk9x9yOb9K2CFDyJSTMvTLX93yRx0vzHirk1c~Zs38zbn2CalHAN4YqdLjdh85hy-PWqBpyY83gPEz4DPC5WjkxnHKXeIig__&Key-Pair-Id=KUT5TJCACFTXG","author","Iowa City School Board","date","2025-05-15T16:23:32.66Z","article","The Iowa City Community School District Board of Directors on May 13 received a presentation on financing options for Facilities Master Plan (FMP) 2.2, including how much the district could borrow against future SAVE (Secure and Advanced Vision for Education) sales-tax revenues.

District staff presented an estimated remaining need of $119,000,000 for FMP 2.2 and explained three capital funding buckets: SAVE revenue bonds, PPEL (the physical plant and equipment levy), and general obligation bonds that require a 60% public vote. \"SAVE is Secure and Advanced Vision for Education, Statewide Sales Tax,\" the district presenter said. \"And it's authorized through 02/1950.\" The presenter added that borrowing against future SAVE receipts is the primary funding strategy discussed for the projects on the FMP 2.2 list.

Why it matters: the board must weigh timing, interest-rate risk and tax-law compliance when choosing how to structure debt. Staff said existing SAVE revenue bonds carry about $147 million in principal and roughly $185 million including interest, with a roughly flat annual debt-service payment near $14.2 million through fiscal 2038. Under assumptions that keep that annual payment flat, staff estimated additional SAVE-revenue borrowing capacity of about $67 million in principal if structured to extend through fiscal 2043, rising to about $127 million in principal through fiscal 2048 (which would be roughly $160 million total obligation when interest is included). \"SAVE revenue borrowing would be sufficient to fund the entirety of FMP 2.2,\" the presenter said, while noting the estimate and assumptions are subject to change.

Details and constraints from the presentation:
- Current SAVE receipts: staff said the district expects roughly $19 million in SAVE revenue this fiscal year and that about $14.2 million of that is currently used for debt service (about 75–80% of SAVE proceeds this year). The remainder funds technology and community education programs.
- PPEL use and limits: PPEL is primarily used for life-cycle and maintenance projects, can be borrowed against, but staff said it is unlikely to be the primary funder for large FMP 2.2 needs because it is already relied on for recurring maintenance items.
- General obligation bonds: carry potentially lower interest rates but require a 60% voter approval and are levied through property taxes.
- Statutory/tax compliance: staff warned about timing and arbitrage-rebate rules that apply to tax-exempt bonds — for example, proceeds must be spent against project costs in set timeframes or the district risks rebate obligations if investments out-earn borrowing costs.

Board questions focused on interest rates, bond rating and options to reduce long-term interest costs. The presenter said the district’s current long-term rating is AA and that recently issued debt structures have been backloaded (interest-only early years) which increases total interest cost; shifting more SAVE to immediate debt service or restructuring could reduce that inefficiency if the board chose to do so. When asked for a current interest-rate estimate, the presenter said he would provide updated figures at a later time.

During discussion board members noted alternatives if SAVE borrowing becomes constrained in future years: borrowing against future PPEL, pursuing a general obligation bond via voter approval, or changing the timing or scope of projects. Staff also flagged that SAVE is statutorily authorized through 02/1950 under current law and that the Legislature routinely extends SAVE when districts need runway for long-term bonding; staff said an extension around 2035 would be plausible but is not guaranteed.

What's next: staff said FMP 2.2 scope and the $119 million estimate may be refined at the next board meeting as priorities and escalators are finalized. The presentation did not include a board vote; the session was informational and part of an ongoing planning process.","mediaType","Video","parentTitle","Board of Directors Meeting - 5/13/25","oneSentenceSummary","The Iowa City Community School District Board of Directors on May 13 received a presentation on financing options for Facilities Master Plan (FMP) 2.2, including how much the district could borrow against future SAVE (Secure and Advanced Vision for Education) sales-tax revenues.","taxTitle","Iowa City Comm School District, School Districts, Iowa","taxId",15385,"location","Iowa","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6240703,"Board approves 700-series noninstructional policies and new policy primers effective July 1",81,4725000,4806000,"/Search/View?dp=1&key=3318866-87e93ef49dfc2ec9d8e9e6b3f033b557&start=4725&end=4806","https://assets.pipeline.soar.com/3318866-87e93ef49dfc2ec9d8e9e6b3f033b557/thumbnail_4725000.jpg","/articles/6240703/Iowa/Board-approves-700-series-noninstructional-policies-and-new-policy-primers-effective-July-1","https://secure.pipeline.soar.com/6240703-ceb3a5a1121f2f41fd44f193ede356c9/orig.mp4?Expires=1770978300&Signature=bJs~iajd8nDbFmaI56PGohSipNsv7QwkB5Q8hRJ1YC9jzbCHYTr3WRyTUCldV8YHkQJkYtKWN0tFI6bec2D6UQPrKKmDS5t8n336240aOBc4RKhbY6DUY1G5wjtCi92zpyGEAGdAQBGHbBYLQLG6AtV6fofgtvPKeqScQHc73K79LbYFLvUs02hKryva2qpUALWrOnv9tZUuuLJ71jh1Hd8ckV8Ie4~SmIdeNpxD42Inzf8ifI-Qf0RtuE3LiRXW6Ld-EQVMF6XCLUWQm6GS~PNDkWW3JVAPYo8x~JoTiDPcZFwyuSu-GV~6b0IHjzApTODFFcZdSvC5dgRTLgWBKA__&Key-Pair-Id=KUT5TJCACFTXG","The Iowa City Community School District Board of Directors on May 13 approved updates to the 700 policy series (noninstructional operations) and adopted policy primers slated to take effect July 1, 2025.

A director moved to approve the 700 policies as presented; the motion carried with all directors voting in favor. Later in the meeting a director moved that \"we approve policy primers as presented effective 07/01/2025,\" and the board similarly voted unanimously to adopt the primers.

Board Secretary Kim Colvin (seated as vote recorder during the meeting) called the online votes and confirmed the motions carried \"with all directors voting in favor.\" The board chair noted there were no substantive questions on the 700-series updates during committee review and called those changes \"very minor.\" The meeting record shows no amendments or roll-call dissents on either item.

What this means: the approved 700-series changes update noninstructional business and operations policies; the primers are new material controlling policy interpretation and will take effect July 1 unless the board reconsiders them at a future meeting. Staff indicated these items had been reviewed by the district policy committee prior to the board vote.","The Iowa City Community School District Board of Directors voted May 13 to adopt updates to the 700 policy series covering noninstructional operations and to approve policy primers, with the primers effective July 1, 2025. Votes were unanimous.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6240708,"Board closes public hearing on City High athletic director's office remodel; bids due May 15",103,696000,799000,"/Search/View?dp=1&key=3318866-87e93ef49dfc2ec9d8e9e6b3f033b557&start=696&end=799","https://assets.pipeline.soar.com/3318866-87e93ef49dfc2ec9d8e9e6b3f033b557/thumbnail_696000.jpg","/articles/6240708/Iowa/Board-closes-public-hearing-on-City-High-athletic-directors-office-remodel-bids-due-May-15","https://secure.pipeline.soar.com/6240708-edf7f5f6ac49f82c11638119719f0aca/orig.mp4?Expires=1770978300&Signature=MceXZT5fTgDZohx1j7Ki8N797hCXdrIczDv8c4uQjKK2hHkqGvmQpcUawJg4V1pUD8NONG0gclvZ53LEjB5LGJzRQPpW2UGQJ4Zg5hYnHYFcxZSBWIz-eL~T34XSTDOKMhjpuy48j06g~rllv422ucrN8SCpIc3zgsaZjnzzZKjcuptAOOamEFnKNXTmsRpDrqfx5SLEPcLx-Hz6ItN1yPNtPYSuU9zK6kEYzMhscKrXMJwCoNS3Btk7IjPTwUPiLE6xpY2lD7O1P~6GjqcJ4ViUcgr3LuS4u-ouhKffiXNhEyktDE7cgBGzYIxOFFvlA2v-R5A4gMalAZ0rY1A7cw__&Key-Pair-Id=KUT5TJCACFTXG","The Iowa City Community School District Board of Directors on May 13 held and closed a public hearing on proposed plans and specifications for the City High Athletic Director's office remodel project.

\"Now is the time and place for the public hearing on the proposed plans and specifications for the 20 25 City High Athletic Director's Office Remodel Project,\" Vice President Abraham said, noting the board set the hearing date April 22 and that notice was published in the Iowa City Press-Citizen on April 23, 2025. The district will receive bids for the project at 2 p.m. on May 15, 2025, at the Facilities Management Conference Center, 11307 South Riverside Drive, Iowa City (as stated in the hearing notice).

Vice President Abraham invited board and public questions; none were raised in the meeting, and the board chair closed the hearing. The presentation noted that notice to contractors was published \"as required by law\" in multiple statewide plan rooms and on the district website on April 23, 2025.

No award decision or contract was made at the meeting; the public bidding process remains open and bids will be evaluated after the May 15 submission deadline.","The board held and closed a public hearing May 13 on plans and specifications for the City High Athletic Director's office remodel. Notice was published April 23, and the district will receive bids at 2 p.m. May 15 at the Facilities Management Conference Center.",{"_33":101,"_35":36,"_37":38,"_39":102,"_41":103,"_43":104,"_45":105,"_47":106,"_49":107,"_51":108,"_53":109,"_55":56,"_57":58,"_59":110,"_61":62,"_63":64,"_65":111,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6240713,"Consultant: district has roughly 7,300 excess seats; elementary, middle and high schools below ideal utilization",2154,2547000,4701000,"/Search/View?dp=1&key=3318866-87e93ef49dfc2ec9d8e9e6b3f033b557&start=2547&end=4701","https://assets.pipeline.soar.com/3318866-87e93ef49dfc2ec9d8e9e6b3f033b557/thumbnail_2547000.jpg","/articles/6240713/Iowa/Consultant-district-has-roughly-7300-excess-seats-elementary-middle-and-high-schools-below-ideal-utilization","https://secure.pipeline.soar.com/6240713-471e11366e433005ab7498ab3d8b35df/orig.mp4?Expires=1770978300&Signature=Z7Z8rqzhIZEDA76e-SrRQm41x2yk4NkiKacazSDCymTd0Hk~M1ePe1jCe~59S6w5jvBzQ3s2AtpZ8QAfStIDh5y88zb-4nhfaY5vdaRqz7~c2kt8msxsC5uIQ~5wAHtuvf5xFaRoBMRJOOYesigrsnGEh7T7CnHciXCmL71yxpEtM8yjVA1RYDT5wbRrHlSGKXGOUuOgHQr9OlAA4bafSaoE0FA7L~EOwwl6wa17UWNEM8-Pv4Pp1DLqT0W0UJ~I6XcdcMVEo4VE9UkAZDL1Z7yxgdka6JblQcgXx5K89p~PspuWjuw-d2eiOhFkCIrYkzQq2w7idH~rrTwn5dMaTg__&Key-Pair-Id=KUT5TJCACFTXG","The Iowa City Community School District board on May 13 received a capacity and feasibility presentation that combined facility use with enrollment projections. A consultant told the board the data show roughly 7,300 excess seats districtwide under current program-use assumptions.

\"This capacity report, utilization report is a complement to [the enrollment projections],\" the consultant said, explaining the distinction between design capacity (how a building was intended to be used) and program or use capacity (how the building is being used today, including support rooms and scheduling). The presentation used a five- to ten-year projection horizon to calculate utilization under current scheduling.

Key findings presented to the board:
- Districtwide program capacity is about 13,755 seats with roughly 21,000 seats currently filled, leaving approximately 7,300 seats of excess capacity across the district.
- Elementary program utilization averaged about 62% (approximately 1,400 surplus elementary seats), middle schools averaged about 67% (roughly 1,600 surplus middle-school seats), and high schools averaged about 68% (about 2,200 surplus seats among traditional high schools), under the consultants’ scheduling and load assumptions.
- Scheduling factors used in the analysis: 88% for middle schools and 86% for high schools to account for rooms not used 100% of the day; elementary rooms are treated differently because core classrooms stay with a single teacher.

The consultant walked directors through examples showing how design capacity (total classroom-type spaces) can differ from program capacity when nine spaces in an elementary building are used for interventions or counseling instead of core classrooms. For example, Garner Elementary was presented as designed for 28 classroom spaces (design capacity roughly 784 under the consultant’s load factors) but in actual use had 19 core classrooms and nine support rooms for a program capacity of about 548 and a corresponding utilization near 46% under projected enrollment assumptions.

Directors pressed on whether preschool was included (the presenter said she would verify) and whether support rooms included special-education spaces (the presenter confirmed that many yellow-coded support rooms represent pull-out programs and special-education use). Board members and staff discussed whether lower utilization reflects class-size choices, the presence of more support spaces, or both; staff replied it is a combination of smaller class sizes in some buildings and use of rooms for support services.

The presentation did not recommend closures or automatic actions; the consultant and superintendent framed the report as a data set to inform choices about where the district might invest, consolidate resources, or seek community input. The board discussed next steps for community engagement and said staff would return with refined scenarios and more detailed FMP 2.2 costing.","A capacity and utilization study presented May 13 found the Iowa City Community School District has about 7,300 excess seats across its buildings and program-use rates below typical targets — roughly 62% at elementary, 67% at middle and 68% at high schools — based on current scheduling and load-factor assumptions.","actionData","errors"]

Article not found

Board hears financing plan for FMP 2.2; SAVE revenue borrowing could cover $119 million estimate

Board approves 700-series noninstructional policies and new policy primers effective July 1

Board closes public hearing on City High athletic director's office remodel; bids due May 15

Consultant: district has roughly 7,300 excess seats; elementary, middle and high schools below ideal utilization