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District hears Measure P update; board approves architect contract for Lema modernization
Summary
Municipal adviser CFW said the district could issue more Measure P bonds as assessed values rise; the board approved a $595,500 architectural services contract for Lema Elementary modernization and discussed timing for a potential additional issuance.
The board received a detailed update on Measure P and the district’s capital program from municipal adviser Coal, Forest & Winters (CFW) and Associate Superintendent Evans on Oct. 16.
Emilio Flores of CFW reviewed the bond program approved by voters in 2022 (authorizing up to $236 million). He said the district has already issued a first series of about $67.7 million and that assessed‑valuation growth and scheduled debt repayments leave usable capacity. Flores said, based on assessed‑valuation and statutory bonding ratios, an additional issuance in the range of the low tens of millions is plausible and that staff expect to return with a specific timeline in the near term. He also warned that the district’s credit rating (double A3 with a negative outlook) and interest‑rate trends will affect pricing and capacity.
Separately, Associate Superintendent Evans presented action item 9.1: a contract with ADIS Architects to prepare construction documents and DSA submission for Lema Elementary’s Phase‑1 modernization (HVAC, roof and exterior work). The contract fee is $595,500; estimated construction is $5.8 million and the total project cost including soft costs is approximately $7.25 million, to be financed from Measure P funds. The board moved, seconded and approved the ADIS contract by roll call (Member Torres, Vice President Abear, President Yu recorded 'I').
Board members asked for clearer online project tracking and updates to the Measure P webpage so the community can see completed projects and those in progress. Staff said they will provide a project schedule and an updated outreach page as the bond program continues.
Ending: Staff will return with a timeline and specific issuance parameters in months ahead; the board approved the Lema architect contract to keep the modernization schedule on track.
