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Board reviews $8.3 million capital plan and discusses refinancing to fund projects
Summary
Administrators presented a multi‑year facilities plan (chillers, roofs, boilers, stucco repairs and paving) with an estimated two‑year cost of about $8.3 million and said they may seek additional borrowing tied to a possible refinancing of 2019 bonds to capture savings.
District administrators presented a multi‑year capital plan on June 15 focused on elementary buildings, with projects staggered over the summers of 2027 and 2028.
Dr. Angelo said many systems—chillers, roofs and boilers—date from 2002–03 and are nearing or beyond typical service lives. "Our estimated cost for the next 2 years are at, $8,300,000," he said. Facilities staff recommended prioritizing Eisenhower first for chiller replacement and noted Baker requires boiler replacement.
Dan Schneider, a facilities staff member, described industry guidance that chillers are typically serviceable for about 20 years and said the district's chillers are "beginning to nickel and dime us," urging early replacement to avoid emergency repairs.
The administration explained this package could be funded either from fund balance for one‑time costs or by borrowing if market conditions allow. Mr. Burchill said the district hopes to refinance 2019 bonds to capture debt service savings and potentially borrow additional funds at the time of that transaction; any refinancing and additional borrowing would require board authorization and market cooperation.
The board requested an RFP for an architect of record (responses due end of July) and discussed scheduling, procurement, and contingencies including 10% cost contingencies for bids in operations projects.
Next steps identified: continue design work, complete architect selection, evaluate market for potential refinancing, and return to the board for authorization before proceeding with borrowing.
