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002>> [music] [music] >> Good afternoon and welcome to the work session for the Gley Evans School District 6 Board of Educations. Call this to order. Uh, Miss Lemon, will you take a roll call? >> Director Zari, >> present. >> Director Bentley, >> present. Director Campus Spitzy >> present. >> Director Mash, Director Matthews, >> Director Norwood >> present. >> Four board members present. >> Thank you. >> Um, just one thing real quick to note. We're going to on our, if you're looking at our agenda, we're going to swap 2.05 and 2.06. So, we're going to do the review of the facility uh [laughter] the facility review and district site and civic center first. So, just FYI as we get going. Um, >> um, just one thing real quick to know. We're going to >> That's me.
003Very awkward. [laughter] >> Um, >> it would see if YouTube's working. >> I would guess YouTube is working. That's a good sign. >> Hate listening to myself talk. Just FYI. [laughter] Um, >> calendar review and community engagement's next. Um, >> well, Community Foundation spread the good lunchon. Looks like tomorrow 11:30. I think we've had that for a while on our calendars. Um, 10:29, that's Wednesday, Gly West High School. Um, I found out the other day I'm not going to be able to attend that, but I changed my RSVP. I don't know if you guys saw that. So, hope you guys can make it to that. Another board meeting and work session. JOTC Marine Corps Ball at Northridge on 11:15. I think that's a Saturday, right? Yep. 50th anniversary night celebration at Shasheen and then the
004kickoff. Is this the kickoff one of the district 6 academy? >> Is that the first one or we add one? >> This is the second one. >> This second one. >> We we just had them uh this past week. Went really well. And then the special board meeting to confirm new board members on the second. Is there anything you guys know about that's not on there? Needs to be easy peasy. Um on to board member comments and reports. Mr. Zara, we'll start with you if you don't mind. >> Uh no, no problem. Thank you, Vice President Bentley. I'll just report out on three items that I attended um since the last board meeting. The first is uh uh the business partners uh breakfast. Just a shout out to all our business partners and other community
005organizations that support our district regarding our district's internship programs. It was again a a a great event and special thanks to Lisa Hudson and Julie Hill for putting that together. Uh I enjoy talking to so many people in the community. I also attended Gley West High School Culture Day. Uh this is an opportunity uh for students at that high school to celebrate and explore the multiple cultures at Gley West. As we all know, we have several different cultures u that are celebrated throughout our district. I shouldn't say several, I should say probably [laughter] many, many, many cultures. And their vision at Gley West is just is to support students, classes, clubs, teams, and organizations in their goal of creating projects and showcasing them. So, I had the opportunity to walk around and engage with students
006as they it was kind of like a science fair where they would then talk to me about uh their culture and where they came from. I got to experience, for instance, Guatemalan kite making and ballet folklorico lessons. Not much of a dancer, but it was fun to to to witness all of that. And then some culinary experiences from Germany and France. And they also had an art exhibit. So, it was really it was a great day to be over there at Gley West. And [snorts] finally, I also went to the Fred Chartist School of Innovations night at the museum. Again, this is the second time I've been to that event. And as we all know from a previous school visit there, they created a forest in their basement and that turned out to be pretty
007phenomenal. I tried to capture that on my phone, but it just didn't do it justice. It was very interesting. I don't know if anybody had been to the old Casabonita restaurant, but very similar uh [laughter] feeling tone inside that library room with trees all over the place. And um again, the students were the ones that delivered the presentations and they were outstanding presentations. [cough] I learned from one student in particular who had a very scientific mindset. He presented on parasitic plants and that just went about over my head. It was almost university level. But I did find out that mistletoe is a parasitic plant. So be careful of that one. So there you go. That's all I've got. Vice President Bentley. Thank you. >> Um Mr. Norwood. >> Thank you. Um had an opportunity to
008go out and watch a couple of UNCC soccer games. Um one of my former students plays for the UNCC women's soccer team. So had an opportunity to go out and take in a couple of games and sure enjoyed watching them this season. Uh also had the opportunity to go to a couple of classrooms, a second grade and a fourth grade classroom and read Halloween stories and talk about the history of Halloween. And the kids were extremely interested in my own personal experiences with ghosts, which I've had a few. >> Which school, Mr. Norwood? >> Pardon me. >> Which school? Uh there were a couple schools outside of our district, but there was one inside, but outside. But um and also I want to remind everybody too that um Trick-or- Treat Street is Wednesday night the
00929th at Northridge from 6:00 to 8:00 p.m. So >> Dr. Campbell Spitzy. >> Um so one of the highlights of my last week was also getting to go to Gley West's culture day. Um and director Azari already highlighted some of the fun activities. Um, another one I'll mention, they had a kinera dress runway fashion show. Um, so that was pretty fun. They were struting their stuff to Selena. Um, and then I really enjoyed the culinary experiences. U, my favorite one, well, um, the MAN booth had tamales and papas with like spices on them. Um, but the German tapioca pudding that was special. Um, the kiddo was bragging that his grandmother had finally given him his great grand her great-g grandandmother's recipe. Um, and it was delicious tapioca pudding. Um, but uh, another presentation I did
010get to go to at the culture day, um, they have a medical club, um, at Gley West and so a couple of their students did a presentation on Asian and African contributions to medicine. Um, so it was fun to hear kind of about herbal remedies in other cultures. Um, and while I was there, a lot of the Fulbright teachers were were attending the event and I got to corner them. [laughter] Um, because usually, um, after the Fulbrights visit us. Um, we get to have a Q&A with them after their six week experience to kind of hear what they love about our District and how we can grow and how we can improve. And so I had a mini session impromptu um with a few of the Fulbrights asking them um what what constructive feedback they
011could give us after doing six weeks in our secondary classrooms. Um and I'll share and so one of them said she would have liked to or he would have liked to see teachers um showcase their the aces they had up their sleeves with regards to teaching strategies. So wanted like specific for the teachers to be more specific about like cool ticks and tricks and of the trade kind of stuff. Another said she felt a lot of our teachers weren't really good at summarizing learning points at the end of the class. So she said teachers would introduce the concept, students would break up into groups, but then they were dismissed at the end of the class rather than kind of wrapping it up. Um so that was some constructive feedback. And then um this was my
012favorite maybe and it was the first person to pipe up but it was one teacher who talked about her experience in Mr. Steven Pollson's classroom. So this comment may be a little unfair because he happens to be the Colorado teacher of the year. Um but she mentioned that comparing him his teaching strategies to other teachers and I didn't ask her for this. She just um volunteered this. She said he used the least amount of technology in his classroom which seemed to contribute to more authentic student engagement. And so I I wasn't too surprised by that. Um but just some feedback from the Fulbrights. Let's see. Um on Thursday night I got to go watch the Wildcats soccer team. So they are having a historic season right now. Um they have 12 wins, two ties, and
013no losses. They are undefeated. They're ranked fourth in the state. Um and this week they start their journey in the state playoffs. So um unfortunately on Thursday night was one of the ties they played against Timnith and uh the game final score was zero to zero. So it was an exciting game. Um nonetheless and our our players played wonderfully. Um, I also, you know, I I don't get out to a lot of sporting events and was really um impressed by the team spirit that our schools have and how many teachers come out for the games. Like I felt like I was sitting in the teacher section. It was and I don't think that's mandatory. I think our teachers are out there supporting kids because they they love them and believe in them. So I just
014it was very heartwarming. Um, this last weekend I got to be a judge for LUAC's first annual chili cookoff. Um, and [snorts] LULUAC, for those of you who aren't familiar, it's the League of United Latin American Citizens. Um, was established in 1929 and is the oldest, um, Hispanic kind of, um, civic engagement organization in the country. Um, and anyway, the event was to help fund youth event um, or youth council programs for LUAC. Um, and I got to taste 10 really good chilies. uh and then got to find out I didn't realize how many youth councils LUAC has in District 6. So they're actually at Meer, at Twiton, at Brentwood, Prairie Heights, Franklin, Heath, Frontier, Northridge, Gley Central, Gley West, and Salida, which is pretty awesome. They have a presence in D6. Um and their
015three core values are education, cultural pride, and leadership. Um couple other things. November 4th, as we all know, is the last day to vote and um please practice your civic engagement and please vote. Um local elections especially really do matter. Um and there's a a couple of state ballot issues that that do matter um for get continuing to give free healthy meals to our kiddos in District 6. But also on November 4th, you can get free tacos from 4:30 to 7:30 at Ames Community College Welcome Center um while helping your student complete their FAFSA. And so um after you submit your ballot, head to Ames Community College if you have a senior in high school and who's looking to go to university and get some help. um because the fast and capsa they are complicated
016forms and so um district 6 is partnering with UNC and as in providing student support on November 4th and then very lastly open enrollment. So, this Saturday, so two days, no. O, I'm bad at math. This Saturday, at the end of this week, November 1st, right after Halloween, um, open enrollment opens. And so, if you want your child to go to an out of school or your out of your school boundary, neighborhood boundary area, you have to submit your application starting November 1st. Um, and open enrollment stays open until December 18th. Um, and as a reminder, the only fully open enrollment schools that don't have boundaries are Chapelo, Fred Chartis, um, School of Innovation, as well as the Maker Dual Language Immersion Program. Um, and so for those, you you have to submit open enrollment
017to get into one of those programs. Um, but otherwise, you can try to open enroll into other schools as well. Um, starting this Saturday. >> And Dr. Dr. Campospitzy, I'll just add to that about open enrollment uh is that all of our charter schools are fully open enrolled as well in the district and don't have a set boundary assigned to them. Um we are doing a mailing uh to all parents of middle school students um very soon about our high school offerings. um feeling like, you know, that's a time when a lot of families do a lot of open enrollment and really felt like we needed to to share all the the offerings at the multiple high schools. So, I love that. Thanks. See how that goes. Maybe do more in the future. >> Perfect.
018Thank you. Um Mr. Matthews, you have anything to add? We're doing comments and reports. You you excused yourself. I forgot to tell everybody he was going to be late, but >> um yeah, thank you. Uh, no, just um also got to go to the to the business I don't know if anybody mentioned this yet, but the business partnership appreciation breakfast and uh that was a as always a fantastic event. We we could not do what we do as a district without the partners that we have in this community and there are so many business partners uh who provide in opportunities for internships for our students. Um and again that that is just a a great event that we get to that we get to attend and and see what all is happening and how many
019people are investing in the students and the high school students in this district. Um uh Mr. Dr. Bentley and I went to the Evans the next day the Evans state of the city and uh we we hear often about Gley and how much Gley is growing but but Evans is growing too and it was great to hear all the exciting things that are that are happening in Evans and so they they do they do a great job. I also got to go to the first discovered district 6 academy um and encourage you guys to to join in some of those. It's always good to to have a few people in the room who can answer questions. So, if you get a chance to go to one of those, that's a that's a great way to
020engage the community. We had a number of parents, parents from Miker and parents from Shasheen. But this room was just full of of people who who want to know more about the district and what's happening in the district. And um then finally, one one announcement. Uh and uh maybe all of our high schools do this. My kids go to Central, so I just have the one from Central, but uh Thursday, October 30th, uh 5:30 to 7:30, there's uh trick-or-treating at the castle, and Castle can be a spooky place. So if you um Yeah. >> Yes. And I believe Northridge has one. Gley West has one. Um, Central and Franklin, I think this year is joining in on trunk and trunk or treat. >> Well, there you go. >> Lots of lots of opportunities for candy
021[laughter] >> around. >> All right, that's all I got, Mr. Bentley. >> Uh, yeah. I like Michael said, uh, with the partner breakfast is amazing. It's pretty pretty cool to watch all these businesses engage with that internship program and and just watch the explosive growth it's had over the last four or five years. um just is pretty amazing just to hear their stories and the things they've been doing and and um all the all the details there. Uh the Evans City State of the City was was good to just kind of keep in mind our our partners to the south, you know, that our inner boundaries and and exponentially growing. I attended a um it was a comedian charity event this summer and u his opening line was, "Hey, thanks for having me at Greley.
022I didn't know you guys were doing the festival of detours." and >> [laughter] >> uh it just it just kind of you know [clears throat] solidifies the fact that we we are growing and and there is a lot of detours and a lot of construction and and Evans is a big part of that. So good to hear that they've got a lot of exciting things going on and you know paying attention to to you know the outlook of growth and everything like that. So exciting things going down. >> Um >> Mr. family. Yes. There was one other um activity that both Brenda and I from my knowledge Brenda and I attended that was the women's gayla annual women women's gayla where our former board member Terry Papus was inducted into that uh group a distinguished
023group of women and uh just a kudos and a shout out to her. >> Yes. And she was highlighted for her legacy in caring for children. >> Awesome. >> Yeah. Thank you. legacy for caring for children and kicking me under the table. [laughter] Um, all right. We're going to move into the review of the facility uh district site and civic center project. I think Kent's leading this, Mr. Henson. So, we'll just um I'll just kick this off and then turn it over to Mr. Henson, our assistant superintendent of support services. Um, but I think uh all of you are aware that you have received all of this information um now a a couple of times and formally received it on at the August 11th work session. Um we do have Adam Frasier with us tonight
024from Richmark. I don't I think that's it. So, um, he can also assist us if there's there are additional questions, but we thought it would be good after feedback from a couple of the board members to bring this back again tonight just to remind everybody since it's been a couple of months um of really what the project is and then go into the conversation around the funding for the project. Y >> um, Vice President Bentley and Dr. Coach Board of Education. So, thank you for letting me kind of go back through this again. It's a good time to do this. We did also talk about the facility, this facility plan in May. Um, so we've been through this a couple times, but what I'd like to do is kind of remind you of the kind
025of why we are where we are and how we got to where we're going. And then the third part will be kind of what's up, like what's going on right now cuz there's a lot that's happening right now. um with this project citywide. And so going back to the site assessment that was done um back in 2019, um you know, this was just kind of a physical assessment. We didn't spend any bond money on this building, but we just kind of noted some things that were um needed to be fixed, which was quite a quite a few things. Um and so this building um is 70 years old basically. And when you step back and think about that, that's a long time. The castle is going to be 100 next year. And you know, they're
026closer in age than this building in a lot of our schools. So that's kind of a you don't think about that, but that's kind of a good uh barometer. Um so um kind of areas of need uh that we talked about you know bathroom numbers you know bathroom being ADA compliant um or not being compliant. Uh the envelopes in poor condition um with water intrusion around windows and woodpeckers love the stucco uh which adds to more water intrusion. uh the glass um in terms of uh thermal regulation of the building uh pretty non-existent on there. So we get a lot of uh temperature swings in this building especially if you're you're near windows the mechanical and HVA system just needs to be totally totally replaced and [snorts] uh we also need to add fire suppression.
027Uh, one of the reasons there is no real fire suppression here right now is um there's a lot of asbests here which was a fire suppressor. Um, so safety and security upgrades, you know, just like our school buildings, uh, we need to do upgrades to this site and our elevator replacement. Our elevators are old. Um, we had, remember, the two elevators down, uh, I think it was last spring for quite some time, and trying to find parts for these elevators is, uh, pretty difficult to do. Um, and then, uh, a year ago, we hired HCM to do kind of a quantitative study to put dollar amounts to what needs to be fixed in this building. So we [clears throat] could measure, sit back and say, "Okay, should we replace this building or fix this uh
028building?" And so that um replacement value came in about $36 million and uh repair estimate was about $23 million. But that repair estimate didn't improve the status of the building. the inefficiencies in the layout of the building, how offices are organized, how space is organized, um it it was simply like replacing parts, but it it still wouldn't function the way we want to want it to function. And so with that renovation estimate, you know, um you know, we talked last time about uh the FCI score um indicates that it needs to be replacement anytime you get over a 0.5 in a building. And then we charted the number of ban hours that we've been here just doing work orders over the last couple years. And that's enough to put one person here full-time um just
029just to take care of those. And then going back to this number here of 36 million versus 23 million, you know that repairs are 60% of the cost of a replacement building. And I think Rob, you mentioned that last time that, you know, when you get over 50% in the business world, you you really need to make a move. So this is an um excellent time for us to do this. Um, and then these are things, you know, versus renovate. Still what we're we would be left with is a 70-year-old building that has a lot of inefficient space. If you look at this floor, this room is efficient use of space for people. Look down the hallway, there's air and what really nothing on this floor. Um, so we could you better utilize square footage.
030Um, let's see. That looks a duplicate sign. Um, also, uh, renovation is very risky, uh, because this building has been renovated so many times. There used to be a dentist office up here someplace, a doctor's office, it was a bank, it was all sorts of things. Um, what's behind the walls? And so if you go to say, "Oh, we'll put a doorway in this wall." Well, what's behind that wall? Sometimes you don't know. And that's added cost. And we found that out as we went through and renovated our school building. So if you can build new, you eliminate a lot of risk and you get an opportunity to kind of start over. Um, also what that renovation cost wouldn't do would allow us to bring the family center and student information um services back into
031this building um because they're across the street. So, building uh new is a good long-term investment um we'll have because we're going to design it as an office building to be an office building. So, we'll actually start with a building with the intent, you know, built for what it should be. Um, we'll see decreased energy costs, um, which could be substantial. Um, it'll keep our administration building downtown and allow us to bring in the family center, um, and student information um, group into this building and allow us to start from the beginning and create a safe safe environment for all. When I say safety, I mean physical safety, but also a safer environment in terms of air quality um for our employees. Um the advantage of working within this group with the civic development group
032um is that we do not have to purchase land to start this process. So that cost right away um is a savings to the district. Um there's not a lot of space to just start to build in the downtown area as you know and all of us that are in this project are in the same boat. We're relying on property swaps to get a new start on demolition and then build uh to kind of hopscotch uh through the city. So that's an advantage to all of us. Um the other thing that we can do with this project is we can build right out the window. we can build. Everybody here can work here and then there's going to be a date that comes and we will just move across the street and then we'll demolish
033this. Very efficient in terms of our um we don't have to stop work. Um we don't have to find another place to move all of our employees which there's a cost to that. You have to usually renovate those spaces which downtown um you know that could be up to $3 million to renovate to put in your own phone system, bring in your own um you know network and then to make office spaces useful and etc. And then also we'd have to pay rent on that. So all that money we would put into a place we'd lose when the lease was up. So, as part of the civic campus uh project, uh these are the four main parties um that you know about Adam Frasier's here in the back and he's a member of the Richmark
034uh group and you heard him in I believe it was May May he was here in front of you and each of us has our own goals for this the city and the county and ourselves and also for the greater good of the city of Greley. We are going to end up with a great kind of civic downtown 4 and a half blocks here uh that will be all tied together with a huge emphasis on pedestrian uh traffic moving about through the city. And so the overall project covers about four and a half city blocks which is about uh 16 acres. And like I mentioned, um, our advantage to doing this is that we are going to get real estate. So this property over here is actually owned by the county. The county is going
035to be in a property swap agreement with the city. And so that piece of property will be transferred to the city and then we will swap this spot um for that spot with the city. So, the the transaction is really it's a two-step process, but it will be between ourselves and the city. And so, there's the the spots. There we go. Woo. Do [clears throat] you know where on that lot the building will be? >> Uh, that's what we're working on right now is the footprint um of that bu building. Um, so we have in the back we have Adam and Kitty. Adam is with FCI Construction and Kitty's with Cunningham Architects. So, our design team we hired last week and we're already moving and so we will have um a footprint somewhere within that
036yellow. And um and so that's what one of the first things that we have to figure out. And so in that spot, it's won't be the whole yellow thing, but in that spot um will become our new district 6 administration building. Um on the top half will be the city hall directly to the north of the yellow and then over to the right will be a boutique hotel. And so they will each have um footprints within that space. And then kind of the idea with this being a a city project is what's not footprint of a building, we will enter into an agreement to have that as common space that will be utilized, you know, for this block and then carry through um to the rest of the city. So that uh those conversations are
037starting, but we all need to get our footprints in place. And then this part um our part here after we demo de demo it bait it and then demo it will become the parking garage uh that will be city-owned. Um timeline um we're moving. So, um, we are in a for the juror block, which is the yellow, and then the large block on the top. Uh, we have an agreement where we're going to turn in one civil plan um to the city for review. uh instead of all three of us working independently on that, which takes a lot of time, um we've all agreed that we're going to do that together, uh which will save all of us cost and also save us uh time. And so that's in motion. [sighs] Um the these are
038the timelines that we have kind of proposed. Um we're on pretty close to on track on the left. Um you know our hope is you see construction start in August of 26 and then substantial completion which means when this building is done is in we have it as February. Uh it's aggressive. Um things could slide a bit because we have multiple parties involved in this and you know who knows what happens when you start digging in the ground. We do know that um in the past there were dry cleaners here and there, gas stations here and there uh which in the 50s I'm not sure they were sites were cleaned up as to today's standards. Maybe that's an assumption. Uh so there might be some additional work that has to be done in those places.
039But um anyway, we're working really hard to make sure we're hitting the front end of this and then we understand that the the uh backside might slide a little bit. What we our goal is to have this building demolished before we get into the summer demolition period when all schools are having abatement work done that we can beat that. Um we know that from experience. Um so here's um we had for this project we had 17 teams um apply to this project um when we put it out for bid. We have never had that for a school. I mean for any of the work that we did we did a heck of a lot of interviewing but we never had 17 submittals. >> Not Yep. >> Mr. And I'll [clears throat] just um remind the
040board that in your agenda tonight on consent is consideration for approval for FCI and Cunningham. Um since we're not doing a formal presentation in the business meeting, we wanted to share a little bit with you about them here. Um so you can see uh the folks that we're proposing to build >> the new building. >> Yep. So we went through the interview last Friday and interviewed five groups out of 17. And so, um, we've already, um, had meetings this week. Uh, we've introduced our team to the, uh, civic team that is doing the whole block. And so, we're off to a pretty good start. So, you see Adam on the left is here. And then Kitty is here from Cunningham and they're in the back. And then here's our project cost. Um, uh, construction cost
041is $38 million. And that's cost to construct the new building. And then our total cost that we have set aside, as you mentioned, is $50 million, which includes the cost of uh the parking lot. And then how we're funding this project, Dr. Pilch? >> Well, and that's what we're about to get into next. Uh and this is uh our plan is to use certificates of participation. So, we've been working with Stiffl um Mandy and uh director of finance and Nate legal counsel and working with an outside attorney as well to begin to develop the plan for the certificates of participation. And so, we'll walk through tonight with you again tonight on exactly how those work um and what you can expect. But we're planning on a 25-y year for repayment on those and that that
042would be an annual payment of approximately 3.25 25 million um that the district would incur uh in order to lease back our properties that are being held as part of the certificates of participation. Um really ready cash. So, we'll we'll get into that next, but we'll be happy to take any questions you might have right now about uh the the the project and then we'll we'll take the questions on certificates of participation following that presentation. So, I have a question um with the 17 bids. So, when the project was presented um to the design and construction people, like did they know they're going to be working collaborative collaboratively with the city and the county? >> Yes, that was all put out in our um submitt that we put out there. >> Yeah, we're because I
043do think that's pretty well I don't know unique um that it's that it is this collaborative effort. Um I think uh Director Matthews at one of our meetings um we were kind of talking about the importance of having it be a cohesive vision uh between the three, the county, the city, and the district. Um that it's an opportunity to for the aesthetic to be aligned and um and yeah, and so so I'm glad that that is something that's definitely being considered and that we're not just, you know, three entities working in three silos and and have a hodgepodge of It's actually four four four entities with the private group vertical. >> Okay. Yes. Four entities. Um yeah. I Who is the civic team? So you said the civic team is in in charge of the
044whole block. The civic team that we're hiring is the CI are the civil engineers that are going to be >> working with all of us >> working with all three of us on where utilities [clears throat] will go and then working with the city planning department. Um so that's one thing we have to figure out is what is our where's our footprint because one of the first things we have to do is figure out where will the utilities >> go to the building. Well, that where the utilities are on the whole block is kind of dependent on that. So, >> there are we've been having regular standing meetings that Mr. Henson and Mr. Curtley are part of along with staff from the city and the county and um Richmond Vertical. >> Yeah, we've been meeting
045for four months. >> Yeah. On a weekly at least basis. >> Three times a week. >> Yeah. [laughter] Three times a week. And I love to hear that rather than every entity, you know, recreating the wheel, that there is collaboration for time and cost savings. So, I think that's really cool and important. >> Um, but yeah, those were my big things. Um, I'm cur This is more not my schoolboard hat, but just um a lover of downtown Gley hat. Um, I would love for the the floor level, um, the first floor to have more restaurant and retail rather than office space because on the weekends, you know, I'm not necessarily hyped about going into a school admin building, but would love to to visit this area and and see more than just empty office space
046on the floor level. >> Well, as a comment, >> our our building will not have retail in in the building for safety and security reasons. That makes sense. So we will start on ground level. So unfortunately our our building probably will be empty on the weekends. Um as I would presume the city building will be as well. But the the intent if if you remember the renderings the intent is to have some retail some that that boutique hotel um right there readily available also in the same area. But we won't we won't share our building with other entities for safety and security reasons. >> Can you speak a little bit about the parking situation um when the new building is constructed and the folks from this building move over into it and this building will
047be demolished for a parking garage. What happens in the interim? Well, we have worked with with Richark. Stephanie from Richmark has counted every parking space in this city. And you have to remember this isn't the only parking lot that's being built. There are others to accommodate. Uh be like a swing parking lot over here for the county to use. Uh because the county has to have parking before they leave this. So there those are the many pieces that are moving in this project because they still are going to have court >> and you know it is going to be complex Mr. Rosari and it's going to be difficult. There's no question about it. Parking will not um be comfortable during that time while that [clears throat] parking garage is being built. That's just a reality.
048>> They mentioned the the lot that they own over across the street by Austin's, right? that would be used. >> Yeah, there there are there are spaces available and it's not going to be nearly as comfortable for employees >> for any of us as it is right now, but we'll we'll work through that and >> that'll be our bumpy. >> Yeah, we'll work hard in the beginning, >> but but we do have we own a lot across the street that hardly anybody parks in. >> We rent a little lot over here next to the ch this church, which hardly anybody parks in. So there's >> and there is a lot of street parking that is not used. So for the people that work in this building, >> how many people work in this building? >>
049Uh it's we got we're figuring about 135 to 150. >> 150 maximum >> and that's why the 150 spaces. >> Yeah. Dedicated uh spaces. >> Okay. >> And then there'll be other public parking in the garage. There'll be county parking. they'll be counting for the the hotel will be parking there. Uh the city will be parking there. Um so we we kind of haven't talked a lot about the parking garage yet, but it's coming. There's been a lot of talk about parking to get to this point was probably one of the things that was talked about the most in terms of counts to ensure that everybody had the right kind of count around in the city within these blocks in order for us to even get to this point. Adam, is that a fair assessment?
050>> Yeah, >> maybe that's why it's on my mind. >> Yeah. No, it's a big big deal with a fleet [cough] as [clears throat] big as ours. I think we could figure out a shuttle system if we had to, too. There's a lot of options. >> Yeah. >> What other questions can we answer for you >> about square foot versus square foot? Do you have that in there? Current versus new? >> Yeah, I think we we are looking about the same like not necessarily more, but there's a lot of inefficiencies in this building. >> There's a big safe room that we can't use. you know, we're hope Yeah, there's that. And then if you go on the third floor, it's kind of things are just really spread out. And so that's why we've got architects.
051And Kitty is a workplace specialist in designing office um buildings. And so um we hope to get rid of some of those inefficiencies, but at the same time, we'd like the board room to be bigger and flexible, flexible space where we could maybe do a professional development in it. we could use it more than every other Monday. Um, you know, at what is it 6 or 7:00, whatever it start, you know, for 2 hours every two weeks, we could use it on a daily basis. >> And I'll also just remind you that the family center staff and the enrollment center staff will all come into this new building as well. So, those are the folks that are all in lease space across the street. It's >> raining outside. >> Yeah. >> How how tall is
052this building going to be in terms of floors? >> We don't know yet. We don't know yet. It'll be >> three or four depends on how >> three or four floors >> wide it is. We've um given uh uh the design team kind of what we thought needed to be on the first floor bases based on community interaction in and out. Obviously the family center, you know, is a lot lot of that. And then um then we'll go up from there. Um and then we'll see. Um like I said, there's a lot of inefficiencies in this building. how can it be more efficient? So that's why we have design team. >> I just wanted to add a comment on the facility condition index. Um you were quoting that over 50% means replacement. Um but actually
053even above 30% is already poor condition potentially requiring major investment and then above 40% is accelerated aging with vulnerable infrastructure. Um, we're seeing it rain outside right now and I know I've texted Dear Drew after storms, did did we flood? Did the admin building flood? So, um, yes, I think it's it's due time obviously that we replace the building and um, it's fertuitous that the city and the county also need upgrades. >> Yep. We're getting right now also doing our facility master plan all [clears throat] of our schools again prior to a next bond. So, we're re-evaluating our buildings after the bond to see where they are. And a lot of their FCI scores went up, which is should have >> I'm sorry, went down by the way. Went down, improved, >> other comments or
054questions that you all have? >> Just thanks for the work on all this in advance. >> Yeah, appreciate it. >> Adam, did we miss anything that you want to add, Adam Frasier? Oh, I to just tell the board that you have an amazing staff. >> You guys should The community is very very fortunate to have the staff that you guys have here and I congratulate you on doing a great job as a school staff and board. Thank you. >> Thank you. Thank you. >> Thank you, Mr. Hansen. >> You're welcome. >> Go check if we need sandbags. [laughter] with my car. >> You were just You were just talking about flooding. >> I [laughter] know. >> Raining pretty hard. [gasps] >> Yeah, it's coming down. >> All right, we'll go on to the certificates of
055participation presentation. >> Yes. And I'll invite Nate up as well um should we we need uh legal counsel to weigh in on on [clears throat] any of the questions you might have um or add additional comments. So, I think all of you know Mandy Haidok, our director in finance. And I just as we start out, I want to give a shout out to Mandy and Megan's absence with um Megan being on FMLA to to be able to support uh her husband who has a terminal illness, Mandy has really stepped up and really taken the reigns, not only with this work, but lots of other work here in the district. and I she is she's working night and day to support the district and and help keep us together financially. So, I just I just want
056to give a shout out to her. >> Thank you, Dr. Pilch. Um I have Amy Canfield from Stifle Public Finance with us this evening. Um there are underwriters that are advising us through the um certificates of participation. We've also engaged them previously on our bond issuances and had wonderful success and Amy's extremely knowledgeable in in her field. So fortunate to have her here this evening to share more about cops with you. >> Thank you so much. Thank you to the board of education and Dr. Pilch for having me here today. Um, and just want to echo that Mandy has been amazing and taking the reigns on this and um, she did a great job presenting to the rating agency a couple weeks ago and yeah, overall I think everything is going great, but just want
057to give you an overview of the transaction and where we stand currently and happy to answer um, any questions. So just to provide an overview of where we are. So as you are familiar um on the civic campus pro uh project this will finance the the new administration building and the demolition of this current building. The coops are going to be structured with fixed rates over 25 years and then they will also be callable either at 10 years or at an earlier determined date um that we will decide if we stay on schedule on our pricing date in a little over a week. >> Can you actually um explain what callable means? So callable. So with a 25-year financing term, if we have that st that standard 10-year park call after 10 years, we can
058pay off the balance with no penalty. Um so if we have 40 million outstanding, you can pay off 40 million and walk away from that without any interest owed. Or you can also refinance. So if interest rates have gone um down over time, you can refinance and capture those savings by lowering those annual payments. Um, and also wanted to add that we are structuring this with with level payments through through the life of the the 25-y year term. >> And Amy, I'll just add this is new that is new information over what we shared with you all when we met one-on-one. Um, but in order to get, you know, to make this work and to get the best rates, that has changed a little bit where we thought we could pay off at any time,
059it's actually at the 10-year mark. And the aster >> there's an asterisk that does say or an earlier date. >> Yes. So, so we are evaluating that currently with finance staff. Um, you know, we we can have that date a little earlier. Um, and it just, you know, depending on the goals of the district that, um, that may make sense to kind of move that up a few years, um, just depending on, um, where we arrive before pricing date, but at least 10 years or earlier, but it's not an any date. It can't be, you know, right after issuing the the debt. Um, and I also want to add that, you know, this is a lease financing, so it is subject to annual appropriation by the board. So each year as part of the budget
060process, you'll be given this payment and you'll approve that um just like the the standard budget process. And then I wanted to just touch on the maximum parameters that are in front of you in the authorizing resolution. So that um these are maximum. So everything um must be within these maximum amounts. Um we do have on here the 3.25 million annual payment. We are actually projecting that that payment will be less than that but um that is the maximum. So just to go through those um 43 million of principal amount. The final lease term is 25 years. to the end of 2050. Final sight lease term is 10 years beyond that at 35 years um ending in 2060. The maximum net interest rate of 6% and the maximum annual payment of 3.25 million. So that
061is what is in front of you this evening to approve those maximums and then delegating to district staff to ultimately sign off on the terms of the financing. And then there are also additional drafts of documents for your review. These are in draft form and will be continued to be updated as we finalize the the financing terms after the sale. And that's the preliminary official statement. That is the document that we use to market the bonds to investors. And then um the main financing documents that outline the the details of the lease or the site lease, the lease purchase agreement and the indenture. And then the certificate purchase of agreement is the the document that is executed on the day of sale. So finalizing those those financing terms and then this is just giving you
062a look at what our current estimated financing structure is. So you can see our annual payment is um under 3.1 million um 3,85,000 from 2026 through 2050. Um and again there this will have a call date. So, there will be um you know, if we go with the most conservative 10-year park call, there will be at least two times that the district can refinance this and capture a lower interest rate or pay it off entirely if um the district has the desire and means to. So, something that is different about a a certificate of participation is that it does require leased assets. So um generally we try to find leased assets that are valued [clears throat] at approximately the same amount of the borrowing of the the coop. So we have worked very hard with
063district staff and the legal teams to find the best assets that kind of um got us as close to the 43 million and also didn't have any other concerns um or to or significant bond proceeds spent on them. Um so we have identified Wowgrad and Maplewood to be our two collateral properties. Um we are also planning on having a release schedule if if the insurer allows to release one you know partway through the life of the loan um just to you know make that asset unencumbered as early as possible. Um and something that we are also working on um that we have deemed to be in the best interest of the district is to um substitute the project as collateral. Um so once the project is constructed and occupied the new admin building can be
064substituted as collateral. those two um schools, Winterrad and Maplewood, could be released. Um and and that way if the district had any future plans for those school sites, um it is just a little cleaner to move forward with that >> and that could be um with our optimistic timeline could be as early as February of 2028. >> Looking at Kent, but he's looking at his phone. >> Yes. So, um, >> the requirement is just a certificate >> on on like the optimistic timeline for the substitution of the lease property, um, from the slides you gave us before would be February of 2028. If we stay on schedule, I know it's being a bit optimistic, but we could, um, in theory, if we were really done and occupied by February of 2028, then substitute the new
065D6 admin building for Winterrad and Maplewood. >> That's for these guys, not Mr. Okay. Only he knows the completion dateish. >> Yeah. So, we'll have to wait till we're at completion and then we'll have to work through that substitution process. >> Yeah. So, they require a a certificate of occupancy. >> Um and then there are just a few little paperwork things to get signed off and um bond council can assist with with that process. >> In 2028 hopefully. And then I just wanted to give an update on our rating. So the district presented to standard and pores on October 13th. Um the district currently had a rating an underlying rating on their general obligation bonds of double A minus. Um and that was affirmed. So um no change to the rating, but coops are rated
066a little differently than GEO bonds. So typically it's one notch lower because it doesn't have that unlimited um tax pledge and it also requires that annual appropriation. So because of that it is one notch lower. So A+ rating on the coops and we have been working over the last couple weeks to evaluate adding insurance. So there are a couple insurers that will insure municipal bonds at a double A rating and there is a fee um to add that onto the deal. But in a in a lot of cases for an A+ credit, if you compare the pricing results for an A+ credit on its own versus that double A insured credit with that um additional fee, it usually is is better for the district to do so. So we have determined that by adding that
067insurance and that double A rating, it can lower our annual payment and cost of borrowing. So we are planning on moving forward with that approach. And then just a quick timeline. So obviously we the the board is reviewing this today. If the resolution is approved, then we are hoping to post the offering document tomorrow and then spend the next week marketing this credit and financing to investors. Um targeting a pricing date of November 5th. So, at that point, we will finalize the rates and know all of the exact terms of the financing and um you know, finalized documents to close on November 19th. And on that date, the district will receive the receive those COP proceeds. And then this is just a a little snapshot at where we are in the municipal bond market. So,
068municipal bonds um price, you know, similarly to the treasury yield, but we actually have our own index called the municipal market data. Um and it basically tracks what a perfect AAA credit would price at. So, that's what these um these charts are graphing on the left hand side is that MMD chart. Um so, of course, we're not at the yields that we were at in 2021. rates have increased um since that postcoid era. But if you look at that bottom left chart um we have the gray bars that represent a 20-year history of that MMD range and those dotted lines are the highs and lows of 2025. So we are actually kind of hovering over those lows for the year currently um with the exception of of the short end. um as we have had
069some some Fed action that have in increased rates over the last year or so. Um but but I feel um like we are close to those those annual lows. So that so that is helping with um with timing. Um so yeah we are we did present to you that maximum rate of 6% but we are estimating that the total borrowing rate is going to be um under 5% currently >> but that that is all of the slides so happy to answer any other questions. >> Um this question I'll I'll ask it at the business meeting too just for the sake of transparency but if either you or um Mr. fall could explain why Winrad and Maplewood were chosen as the collateral schools. >> I'll just go back up here. Um yes. So when [laughter] when
070we issue coops, generally we want to have the the leased property um equal to about 90% to 110% of the value of the coops. So it's it's kind of walking that fine line of not having too little collateral and not having too much collateral. Um so that was part of the decision- making. And then um another big piece is that we don't want to pledge assets that have a lot of bond proceeds in them because then if anything um and this is more of a legal concern, but if um for example, if the district didn't appropriate and didn't make their cop payments, it could um and and there were significant bond proceeds in this financing and say that asset got taken over by the trustee. it could be a tax concern for the bonds. So,
071we just don't want to coingle um bond proceeds on a leased property. So, so those were really the main reasons. Um [clears throat] you know, just trying obviously the district did improve a lot of buildings as part of the the last bond in the 2020 and 2021 geo bond offering. So, we were really trying to avoid avoid using any of those um properties that had major bond dollars invested. >> [clears throat] >> We also needed to avoid properties that could be potential for uh being demoed and [clears throat] rebuilt in a future bond. >> And speaking of the future bond, um I know we have this 10-year uh period or maybe earlier um to be able to pay it pay it all back earlier than the 25-y year um term. Could we use bond future
072bond proceeds to pay this off earlier? We would we would have to it would depend on how the bond language is written. So when we do write language for a future bond, we will write language in such a manner that allows us to utilize bond dollars. Could also be included in the actual bond, right? Wouldn't have to be proceeds. Is that correct? >> Well, and that's that's a lot of why we are um taking a look at that call option. um just to make sure that based on the district's plans over the next u several years that we have the right flexibility in in this coop financing. >> There's a lot of moving parts in this. I I've come to understand um not only from Amy and Mandy, but also from talking with other superintendents
073who've used coops that you you want to have the right cops at the beginning and or or the right language in the beginning. You want to have your bond language just right. So, uh, fortunately we have a really strong team on this. >> Amy, I just had a quick question and maybe I missed it somewhere. Are there minimum and maybe I'm off base here. Minimum and maximum values to the cops like there are to bonds like $1,000, 10,000. Um, are they sold in those kind of increments or they just random numbers? >> Yes. So, they are in 5,000 increments. Um, do you mean for like an an investor to participate? Um, yes. So, we can if so, so like an individual investor can participate. We call that a retail order. Um, and they would just
074have to work through Stiffl and a Stifl broker to to participate in the bond sale or the certificate sale. Any other questions? Great. Anything I missed? >> No, you did great. Thank you. >> Perfect. Thank you so much. >> Thank you so much. >> Did you want uh Mr. Rosari, did you want Mr. fall to >> well I I thought it might be wise just for the record um it's more basic than anything we've talked about but just for the record to um to make sure that folks listening in on this uh if they have any concerns at all that we have considered uh the essential legal requirements um in regards to cops from a Taber perspective and uh that we do understand the risk and how we're trying to minimize that. So, if you
075could just address that very quickly. >> Yeah, thank you, Director Aari. So, um let me see how to best phrase this. So, there's the Colorado has the taxpayer bill of rights. Uh and as a governmental entity, we're prohibited from entering into multi-fiscal year obligations uh or indebtedness without voter approval. Um and so the way a certificate of participation works is we're not taking on any debt. What we're doing is we're entering into a long-term site lease with a trustee. in this case, US Bank, uh, who's then going to enter back into a lease purchase agreement with us. Um, and so we're not incurring any debt by doing this. We're not, um, making a pledge of credit to the voters for taxes for the purposes of financing the construction of this building. We're simply just entering
076into a long-term lease purchase agreement. uh with the caveat that if we ever default meaning if we don't ever pay that money uh if the board doesn't appropriate funds then the lease holder in this case US bank would have the right to relet the property so we'd have to be evicted from our own property and then US bank would be able to relet that property but we never lose ownership of that property which is important for the purposes of tabor when we're talking about indebtedness because we're still we still are the owner of the property, we don't actually give up any of our rights of ownership. Uh we would just have to evict it for a temporary period of time, which uh as uh Miss Canfield pointed out is going to be until 2050. So
077the the way that the um documents are structured is they all contain annual appropriation clauses, meaning this board uh on an annual basis is going to be appropriating the the the amount of money uh to enter into that one-year lease. And then we'll just continue doing that for 25 years and you'll be appropriating funds. Um and so that will take care of the Taber related issues. Um again, we're not pledging any credit um any additional obligations to levy taxes for future payments. This is something that we're committing to do. And then just again making sure that all documents have explicit disclaimers around uh Tabor and annual appropriations and things of that nature. So, I don't know if that exactly answered your question. I can answer more specifically if that helpful. >> It's fine. I just
078needed another explanation on that for the for the record. >> Okay. And I don't know if I said >> there's just one. So, one thing I want to mention. Um, so the lease term is through 2050. Um, the site lease term is actually what dictates that um, you know, if the trustee did take over the property. So the site lease is longer than the lease term um by 10 years just in case they needed more time to make investors whole. So, another another thing that I didn't mention earlier, but when we think about collateral is is we really do want to find properties that are considered essential to the district, that's really important to um investors and the rating agency and the insurance agency as well to kind of give that good faith pledge that,
079you know, the district certainly does not intend or want to default on this and you know, they want to keep these assets in place and these are very important assets to the district. So that that's a consideration as well. So um and if it gives you any comfort to know this is a very commonly used financing tool um through throughout the country but especially in Colorado with school districts, cities, counties. Um, I think with with school districts, especially if there is a project like this that comes up and there's an opportunity and it doesn't fit in a timeline with with the bond financing or maybe it doesn't fit in the scope of what you want to go to the voters for for a bond financing. I think we we do see um you know a
080lot of large school districts in Colorado that use these tools often and it's probably more unusual to have no cops like um this district does currently but you know I know that um DPS Aurora public schools Colorado Springs D11 um Westminster schools like if you look at a list of the the largest districts in the state most of them do use cops And um you know, QTA Rock and Butler Snow are are both working on this financing. Um they they represent a lot of districts throughout Colorado and um you know, have a lot of expertise and experience working on these types of credits. >> Well, thank you. Appreciate that. >> Yeah. >> Anything else for these guys before we wrap up? >> All right. Thank you guys. >> Thank you. >> Appreciate it. >> All
081right. We'll debrief the work session. We'll start with Matthews this time. >> Yeah. Thank you, Vice President Bentley. And uh thank you to everyone for for the presentations and not not just for us. We've been through some of these uh presentations before, but for the public and to make sure that Thank you for those questions. Uh that last question, Mr. just so that so that people understand what this is and um the security that we have in the district. So, uh it's very exciting. We we're super excited about being a participant in this and um uh not only a new administration building for uh for us, but also the larger development and what this means for downtown Gley. So, thank you everyone. >> Thank you, Mr. Zary. Well, I agree and thank you um to
082everybody in the room who is engaging in this project. This is a special time in our school district. I think we're all going to look back on that um where three, actually four entities are working together uh to improve uh the lives of all the people involved in these projects. folks from the county, the city, the school district, and um the downtown uh Greenley area. Um so it's I I'm I'm really excited about the future here and and again, I want to thank everybody who's participating in on this and for their time. >> Thank you, Mr. Norwood. >> I think we're blessed with uh Mr. Hansen and you councelor Fall and all the people that are involved in this, the time and the effort that they put into this is really amazing and um looking
083forward to seeing the whole project start to develop. I think this is really exciting for the district and um you know I I think about if you had to take everybody if you're going to redo this building, you had to take everybody to remote offices, how uneffective that would be to our students and to our teachers. So, I think this is a great move and I look forward to seeing it uh get started. >> Thank you, Dr. Campbell Spitzy. >> Yeah. Also, just wanted to thank you all for both presentations. Um and um the purpose of school board meetings is transparency. um you know, we're all elected officials here and represent um different constituents in Gley and um so it's just important for all the information to lay out and I thought [clears throat] um
084both of the presentations were very clear. Um yeah, I'm excited about the promise of this civic campus um having more walkability, more public gathering spaces, and a stronger link between the civic campus um and our existing downtown businesses. Um, I also love the idea of 500 potentially 500 more employees in this area. Um, which will be awesome for our existing businesses and hopefully will attract new business as well. Um, so excited to be part of revitalizing downtown in Gley. Thank you. >> Yeah, I'll just uh kind of echo what everybody said. It's it's very exciting. I I would probably be impressed to to find out if there's ever been a collaboration such as complex and as exciting as this one with three public entities and and a private entity. Um it really is a once
085in probably a generational type type project and uh you it'll it'll make a long-standing difference on Gley for for future generations as well. So thank you guys for all your hard work. Um with that we'll adjourn and we'll see you back at 6 pm for the business meeting. >> Thank you. >> [music] [music and bell] [music] >> food. Hey >> [music]