January 3, 2017
Issue 1 PDF
Issue 1 (en Espanol)
The Board of Education is pleased to announce that the issuance of the Series 2016 General Obligation Bonds that were approved by voters in November was successful!
The 20 year financing locked in a True Interest Cost of 3.75% and the associated tax impacts are in line with what was communicated to voters during the course of the election. The bonds were priced with a 10 year optional call which will allow for refinancing or early payoff if circumstances are appropriate in the future.
The District’s investment grade underlying rating improved to A3 in spite of Oil & Gas valuation fluctuations due to strong financial management cited by Moody’s Investor Services. The District also used the State Intercept credit rating of Aa2 and bond insurance that provided a second rating of AA. This all helped to secure a successful bond sale and a lower interest rate.
The Bond Election encompasses multiple capital construction projects at all district schools. In working with the District’s Owner’s Representatives, Architects, and General Contractors, the general timeline for completion of all projects will provide for student access by the beginning of the 2018-2019 school year. Each project will vary in its start and end dates, but progress will be reported for each project.
Procurement Completed to Date
Architectural Engineering FirmTreanorHL was selected as the Achitect/Engineering (A/E) firm officially in September. Qualifications were received from nine firms and four were short-listed for interviews. TreanorHL was selected for all bond project work. This will ensure consistency in projects across the district, in addition to helping to establish a timeline for completion of all projects that is manageable over the next two years.
TreanorHL (then known as H+L) completed the master facility planning process with district officials, which means they are intimately familiar with the deferred maintenance needs of the district. TreanorHL has assigned lead architects to each of the primary projects in the district, and initial design work has already begun for some projects.
Construction Manager / General ContractorsNV5 and district administration prepared a procurement package that included Hudson Academy, New Lochbuie Elementary, and Weld Central Middle School.
Qualifications were received from 10 firms, and 4 were short-listed for interviews in November. The selection committee recommended two firms to the Board of Education: Fransen Pittman (FP) for the New Lochbuie Elementary, and Adolfson & Peterson (A&P) for Hudson Elementary and WCMS.
FP recently completed the Lochbuie Town Hall and Hudson Library projects and is currently working on the Hudson Town Hall. A&P has extensive experience in working on renovations in occupied spaces such as Hudson and WCMS.
Remaining projects in the district will be bid out separately or added to either of the CM/GC’s scopes with preset fees based on their initial project proposals.
All firms were asked to demonstrate how local subcontractors would be solicited for work on the various district projects.
Miscellaneous ProcurementNV5 and administration prepared proposals for Geo-Technical / Soils Reports for Hudson and New Lochbuie Elementary as well as Surveying Services for various district projects.
Lamp-Rynearson was selected to provide Surveying Services, and CTLThompson was selected to do the geotechnical work. Contracts were completed, and services will begin in coordination with TreanorHL, the Architect Firm.
The District and NV5 are working to directly contract work to rectify playground materials issues at Hoff and Lochbuie Elementary schools. In addition, a contract for district roofing repairs is also being coordinated.
Design Advisory Groups Begin Work
The DAGs make a recommendation to the superintendent and Board of Education who provides final approval prior to the next steps in the construction process. Separate DAGs have formed for the Hudson Academy Renovation and the New Lochbuie Elementary school. The DAG process will continue through the month of January.
Following the intense meeting schedule, community meetings will be held to provide the larger stakeholder groups an opportunity to view the proposed designs.
Community MeetingsCommunity meetings took place on November 17 at Hudson Academy and December 9 at Lochbuie Elementary. Meetings were facilitated by Dr. Rabenhorst where information was shared regarding project completion and the processes that would be occurring in the coming months. Procurement, timelines, and DAG membership was discussed. The presentation can be viewed at re3j.com or here.
Schedule UpdateDesign schedule for Hudson Academy, New Lochbuie Elementary, and Weld Central Middle School will follow a parallel track. Anticipated construction documents will be submitted for permitting in Spring 2017.
Actual construction at Hudson Academy and New Lochbuie Elementary is anticipated to begin in the summer of 2017. Much of the renovation work at remaining schools is anticipated to be completed during the summer months in 2017 and 2018.
First In Series:
The District will be providing regular updates of progress on Bond projects through the Capital Construction Update newsletter. The series will be published and disseminated regularly as project milestones are reached. Comments and questions can be submitted anytime to Let’s Talk located on the District’s website at re3j.com.
Inside this issue: