Bond cost by category
High School, Seismic & Access • $1.10 per $1000 of assessed value
Educational facility upgrades
Upgrade grades 6-8 science classrooms with sinks and electrical outlets at as many as 38 schools.
$69.5M Seismic and other building upgrades
Seismic strengthening at as many as 26 schools. Replace and seismically brace roofs at as many as 14 schools. Replace roofs at as many as 8 schools. Upgrade accessibility to educational programs at as many as 33 schools.
$233M Full modernizations or replacement
These schools are identified as potential modernizations or replacement:
- High schools with high seismic risk .
- High schools with major access upgrades needed.
- Faubion = capital partnership with Concordia University.
3 high schools Grant $95M Franklin $85M Roosevelt $70M 1 K-8 Faubion $28M $45M Debt repayment Rosa Parks K-8. Boiler conversions, prior roof replacements and other financed capital projects. $84.5M Program costs
Required reserves, materials and labor cost escalation, bond issuance costs and site upgrades and transportation to buildings where students attend school while their school is renovated. Master planning for 6 high schools ($1.5 million).
Total Bond Program
Estimated rate: $1.10/$1,000 of assessed value over 8 years, $0.30 over an additional 12 years.