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Gatesville ISD architect presents $22.93M bond package estimate; financial advisor says up to $26M possible without raising tax rate
Summary
Architect Brent Winkler and the district presented a $22.93 million ballpark bond package including junior high additions, a field house and auditorium renovation; financial advisor Brian Grubbs said borrowing up to $26 million may be feasible without a tax-rate increase; trustees discussed timing and a pending bill that could force November-only bond elections.
Trustees heard a facilities and bond planning update that reworked previous cost estimates and offered a possible pathway to fund a large slate of projects without raising the district's tax rate.
Architect Brent Winkler (presented in the meeting) provided updated ballpark estimates that were substantially lower than an earlier estimate the board had received. The illustrative package totaled about $22,930,000 and included: a new junior high band/choir/theater ($4.2 million), connecting the junior high to the Mary Bishop gym ($1.8 million), a complete auditorium renovation ($750,000), a new field house behind the stadium ($7.7 million), adding sixth grade classroom capacity ($4.1 million), a new library ($2.0 million), restroom ADA upgrades ($405,000), and a front parking expansion ($375,000), plus athletic field and seating upgrades.
Brian Grubbs, the district's financial advisor (mentioned in the presentation), told the board the district could borrow up to $26 million without raising the tax rate, giving the district flexibility to pursue a substantial portion of the master plan. Board members discussed staging work to avoid a "portable city" construction scenario and said interior work could be staged to minimize disruption.
Presenters warned of a pending state bill that would eliminate May bond elections and move all bond votes to November; trustees and staff said such a change could compress bond timing and have financial and political consequences. District staff said local architectural and builder relationships may result in more competitive pricing and that the board is not planning an immediate vote on a bond proposition at the meeting.
Next steps: staff and the architect will continue cost refinement, evaluate timing, and bring a formal bond proposal for trustee consideration. Trustees asked staff to watch state legislation that could affect the timing of a bond election.
