welcome colome consolidated school public meeting public meeting... · •pierre changed the rules....

Welcome Colome Consolidated School

Public Meeting

January 17, 2019January 21, 2019

How Did We Get Here?

August 2017 started talking to Architects and Construction Managers

We retained an architectural firm to design a Conceptual Plan

Building was estimated at 4.5 Million

22,416 Square Feet of New Building

Public Meeting was held on October 13, 2017


March 2018 signed a letter of intent with Summit Contracting

Colome Consolidated

School DistrictColome, South Dakota

Early concept was 2-story addition with HS Removal

Concept Plan Developments


Falls Architecture conducted faculty interviews and started a new building design

A second Public Meeting was held on April 5, 2018

Board decided to add two community members to the Building Committee

Falls Architecture Studio, LLCARCHITECTURE PLANNING INTERIOR DESIGN

Sioux Falls, SD


Colome Consolidated


Concept Plan A

Old HS Removed Single Story Connects All Levels


Sioux Falls, SD


Colome Consolidated



Sioux Falls, SD

Concept Plan A Revised

Old HS Removed Single Story Connects All Levels Adds Classrooms Develops Student Area Adds Toilets in Commons

Existing Building Study Authorized Community asked for an analysis of the existing building.

Board decided to authorize a study to be completed.

Renovation cost was high.

A copy of the report will be at the front table after the meeting.


Colome Consolidated



Sioux Falls, SD

Evaluation of Existing High School

General Building Usability Analysis ADA Accessibility Report Code Compliance Report Structural Report MEP Report Material Testing Report

Conclusions

Colome Consolidated

School DistrictColome, South Dakota Concept Plan Developments


Sioux Falls, SD


Colome Consolidated



Sioux Falls, SD

Concept Plan B

Repurposes Existing HS Adds Elevator ADA Toilets on Each Floor New Admin. Area with

Secure Entry Adds 2nd Required Stair Upgrades all MEP Provides Code Required

Fire Protection


Colome Consolidated



Sioux Falls, SD

Concept Plan B Revised

Repurposes Existing HS Adds Elevator ADA Toilets on Each Floor New Admin. Area with

Secure Entry Adds 2nd Required Stair Upgrades all MEP Provides Code Required

Fire Protection Removes Student Area

and Changes Classrooms


Colome Consolidated



Sioux Falls, SD

Concept Plan C

Repurposes Existing HS Adds Elevator and Stair

Tower reducing renovations

New Admin. Area with Secure Entry

Upgrades all MEP Provides Code Required

Fire Protection Removes Student Area

and Changes Classrooms


Colome Consolidated



Sioux Falls, SD

Concept Plan C Revised

Repurposes Existing HS Adds Elevator and Stair

Tower reducing renovations

New Admin. Area with Secure Entry

Upgrades all MEP Provides Code Required

Fire Protection Adds ADA Toilets in

Elevator Tower


Colome Consolidated



Sioux Falls, SD

Concept Plan D

Old HS Removed Single Story Connects All Levels Fulfills Program

Requirements Adds Classrooms Adds Commons and

Alternate Addition

Colome Consolidated



Sioux Falls, SD

Colome Consolidated



Sioux Falls, SD

THE NUMBERSNew Single Story Construction

22,000 Square FeetCost per square foot $224.85

Total Estimated Cost $4,950,000.00

FOR COMPARISONRenovation of Existing High School

Square Feet 14,716Classroom/Office Renovation 4,080 square feet

Plus New Addition of 15,882 Square FeetCost per square foot $197.00

Total Cost $6,815,000.00

Colome Consolidated



Sioux Falls, SD

SCHEDULEPhase 1

Feb. 5th VOTE!May 1st Out for Bid

May 15th Bids ReceivedMay 20th Starting ConstructionDec. 31st Phase 1 Completed

Phase 2

Begin Construction spring 2020

-August Phase 2 Completed

The Building Committee looked at all options

new building designs and

renovation designs

Several design alterations were made to eliminate unnecessary costs while maintaining the best solution for students

The School Board passed a resolution on December 14, 2018 to set a Bond Election for $4.95 Million

Election is set for February 5, 2019.

Colome Consolidated



Sioux Falls, SD

1/22/2019 • 19

Toby MorrisDougherty & Co.

Public [email protected]

(605) 224-5557(877) 224-5557

Member FIRNA

Colome School District

1/22/2019 • 20

Financing Overview

• General Obligation Bond

– Requires 60% to pass of those that voted, not of registered voters.

– 25 Yr. Amortization

– Typically Schools use Capital Outlay to issue debt

• Pierre changed the rules

1/22/2019 • 21

Changes to Capital Outlay

• No longer allowed to levy $3 per $1,000

• Schools CAN ONLY levy based on their enrollment

• Begins in 2021

• In 2021, Colome can only levy approximately $1.90 per $1,000 per SDCL

– This is based on 215 projected students

– The CO Levy at $1.90 plus the GO levy at $.99 is what the District could have levied if the law wasn’t changed.

1/22/2019 • 22

Current Market

• 25 Yr Bond. Projected at 3.6- 3.9%

– Fixed rate for life of bond

– Market has been volatile

1/22/2019 • 23

Current Market

1/22/2019 • 24

Tax Impact

Par Amount: $4,950,000

Term: 25

Estimated Interest Rate: 3.75%

Avg Annual Levy: $308,542

2019 Value: $312,715,187

Tax Rate per $1,000 $0.99

Taxable Impact

$50,000 $49.33

$75,000 $74.00

$100,000 $98.67

$125,000 $123.33

$150,000 $148.00

$175,000 $172.66

$200,000 $197.33

$300,000 $296.00

$400,000 $394.66

Colome School District

General Obligation Bond

Annual Property Tax Impact Estimates

Levy Assumptions

Preliminary

Estimated Annual Property Tax Impact 2019 Valuation

$0.00

$50.00

$100.00

$150.00

$200.00

$250.00

$300.00

$350.00

$400.00

$450.00

$50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $300,000 $400,000

Imp

ac

t

Taxable

1/22/2019 • 25

Inflation Concerns

Year % Increase Amount

2020 $4,950,000

2021 5% $5,197,500

2022 5% $5,457,375

2023 5% $5,730,244

2024 5% $6,016,756

Inflation Concerns

Thank you!

Colome Consolidated



Sioux Falls, SD

Election is set for February 5, 2019

Dougherty & Company, LLC

welcome colome consolidated school public meeting public meeting... · •pierre changed the rules....

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