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Teacher-housing project delayed after PSFA project-manager change; bond scenarios expected in July
Summary
District staff reported the teacher-housing project was delayed after PSFA reassigned the project manager; demolition is ready pending PSFA contract issuance and Stifel will present bond scenarios with an updated local-match projection (staff cited about 6.7%).
District staff told the board that the teacher-housing project experienced a two-week delay after the Public School Facilities Authority reassigned the project manager on May 31. Administrator (Speaker 1) said David Chavez (PSFA project manager in Roswell) has the district's files and staff will meet with him to move the contract process forward.
"We have the demo person ready to come on ground once PSFA issues the contract," the administrator said, adding the contractor could be on site "within 72 hours" of contract issuance. Staff said demolition is the next step and the project then moves into site work and placement of prefab homes; the district is trying to accelerate the demo phase so housing is in place before many staff depart.
Financial planning: staff said the district will meet with Stifel (financial advisor) in July to review bond scenarios and local-match projections. The administrator reported a local-match figure of about 6.7% (down from a previously referenced 10% as the planning model changed) and said staff would bring an outline of scenarios to the July meeting so the board can consider whether to proceed with bonding.
Next steps: staff will meet with the PSFA project manager to confirm contract timing, update the board by Friday on contract status, and present bond-financing scenarios and a written outline in July.
