Nelson County hears RSA advisor on $54M bonding capacity, readies LPC and selects Studio Kramer as architect

Nelson County school leaders and an outside fiscal adviser reviewed district facility funding on Feb. 4, hearing that the district’s immediate bonding capacity is about $54 million and that conservative revenue-growth scenarios could push project capacity into the tens of millions more over time.

Lincoln Feiner, partner at RSA Advisors, told the Board the snapshot bonding capacity — calculated with no assumed property-value growth beyond current collections — is “$54,000,000” and explained two forces that can increase borrowing capacity over time: revenue growth (property-value collections and capital outlay allocations) and calendar roll‑off of existing bond debt. Feiner said a conservative forward-growth assumption of 3.5% would show materially larger borrowing capacity over a 20-year planning horizon.

Feiner explained the capital outlay formula and the state equalization mechanism that targets a facilities funding benchmark (approximately $605.50 per student in the current biennium) and described how state “equalization” dollars can act as a backstop when local collections do not meet that benchmark.

Feiner urged the board to use the local planning committee (LPC) process to document all unmet facility need, noting that the Schools Facilities Construction Commission (SFCC) evaluates facility plans partly by comparing a district’s unmet need against its bonding capacity. “The larger the unmet need you can put on your facility plan, the larger piece of pie you would get,” Feiner said, adding that shovel-ready projects and clear unmet-need statements are key to competing for state assistance.

Board members discussed timing: the Kentucky Department of Education reviews facility-plan drafts in February and the legislature considers facility funding in January 2026; the district must meet internal LPC deadlines to be included in that cycle. The board emphasized the strategic value of documenting needs even if local bonding capacity appears sufficient.

On a related action, the Board voted to approve Studio Kramer as the district’s 2025 local planning committee architect. A motion to approve Studio Kramer was made and seconded during the meeting; the board chair called for the vote and members responded “Aye.” The motion passed; the meeting record shows no roll-call tally of individual votes.

Studio Kramer representatives and district staff explained the architect’s LPC role: updating base floor plans and preparing the inventory and condition report, assembling draft facility-plan documents for KDE review, and producing scenario graphics to help the LPC visualize options. The board noted Studio Kramer’s recent involvement in local projects and agreed the firm’s familiarity with district buildings would be useful for the LPC.

RSA and district staff also discussed the district’s urgent-need positioning with SFCC and advised that, to be eligible for state assistance, districts typically must show unmet need exceeding local bonding capacity and have projects that are reasonably ready to move forward. Feiner said that project phasing and multi-year construction timelines are common and that the board should consider both short- and long-term plans when shaping the LPC’s recommendation.

A brief vote to adjourn followed later in the meeting and carried on a voice vote.