Transcript Slide 1

Montoursville Area
High School – Additions and Renovations
Act 34 Public Hearing
February 24, 2015
TABLE OF CONTENTS
Page
1.
AGENDA
2
2.
INTRODUCTION
3
3.
PROJECT NEED
4
4.
SUMMARY OF DISTRICT OWNED BUILDINGS AND LAND (A-09)
6
5.
OPTIONS CONSIDERED
7
6.
PROJECT DESCRIPTION
8
7.
SITE PLAN AND FLOOR PLANS
9
8.
PROJECT ACCOUNTING BASED ON ESTIMATES
(PLANCON D-02 and 03)
14
9.
OTHER DETAILED COSTS
(PLANCON D-04)
16
10.
ESTIMATED MAXIMUM REIMBURSABLE PROJECT AMOUNT
(PLANCON D-08 and D-09)
17
11
ACT 34 MAXIMUM BUILDING CONSTRUCTION COST
(PLANCON D-20)
19
12.
ANALYSIS OF FINANCING ALTERNATIVES
20
13.
COMPARISON OF LONG TERM FINANCING METHODS
21
14.
BOARD RESOLUTION OF MAXIMUM BUILDING COST
AND PROJECT COST
28
15.
PUBLIC HEARING NOTICE
29
AGENDA
1.
CALL TO ORDER / INTRODUCTION
Tom P. McNamara
Board President
2.
HEARING, DULY CONSTITUTED
Murphy, Butterfield, & Holland
Fred Holland
Solicitor
3.
PURPOSE OF THE MEETING
(Need for the Project)
Dr. Timothy Bowers
Superintendent of Schools
4.
PROJECT DESCRIPTION
Crabtree, Rohrbaugh & Associates
Paul Taylor
Director of Education Architecture
5.
FINANCIAL ANALYSIS
RBC Capital Markets
Stephen Flaherty
Financial Advisor
6.
PUBLIC COMMENT
Question and Answer Period
A.
B.
C.
Pre-registered speakers / comments
Please raise hand, stand, and state name, address
One question at a time - five minute limitation per speaker
Montoursville Area
High School – Additions and Renovations
`
Introduction
This public hearing is being held in accordance with Act 34 of 1973 of the Commonwealth of
Pennsylvania. The purpose is to have the District Administration, Architect and Financial Advisor
present a proposal for additions and renovations to the existing High School.
The specific purposes for this hearing are as follows:
1. A description of the need for the project by reviewing supporting factors.
2. Review the various options considered by the Board prior to the decision to proceed with the
current project proposal.
3. A description of the project that meets educational/community functions including energy
efficiency and technology upgrades.
4. Present the estimated maximum building construction cost, total project cost, indirect costs,
financing methods and estimate of local tax impact.
5. Provide school district residents an opportunity to offer comments and written testimony
concerning the project.
Montoursville Area
High School – Additions and Renovations
`
Need for the Project
Existing Educational Program deficiencies include, but are not limited to:
 Inadequate space for
o Science
o Physical Education
o Music
o Drama/Auditorium/Stage
o Art
o Guidance
o Student Commons/Flexible-Learning Spaces
o Community Functions
 Inefficient Departmental Organization due to existing building limitations
Existing Building Physical deficiencies include, but are not limited to:
 Inadequate Security due to limited control of building entrances
 Inadequate Safety relative to current building codes (fire suppression/alarm, ventilation)
 Heating, ventilation and cooling systems near end of service life
 Electrical and plumbing systems near end of service life
 Inadequate Energy Efficiency in building components
 ADA accessibility
Options Considered
High School Option 1
$37.8 Million
 Maintains a majority of existing building.
 Additions = 116,775 SF
 New Maintenance building required off-site
OPTIONS CONSIDERED
TheSchool
DistrictOption
analyzed
that
explored the utilization of existing
High
2 several scenarios
$42.6
Million
district
buildingsa to
meet
the desired
high school educational program.
 Maintains
less
of existing
building.
 Additions = 200,000 SF
These
construction
options
sought
to maximize
 New
Maintenance
building
required
off-site opportunities and minimize the
constraints of the building site and structure.
High School Option 3
$43.3 Million
Although
each
offered
a
possible
solution,
most offered undesirable building
 New School at new site
organizations, restricted sites, and/or compromises to the educational program.
High School Option 4
$22.0 Million
 Renovations only, no additions.
1. Existing High School - Additions and Renovations
High School Option 5
$36.0 Million Option Selected
 2.Majority
of
High
School
is
new
three-story
structure
New Elementary School
 Additions = 135,000 SF
 Maintenance building remains on site
 3.Existing
remains
New Gymnasium
High School
(Option selected)
This option was considered to have the best combination of:
 Overall
to the District
Reasons Option
5 wascost
selected:
 Educational Program Improvements
Best use of existing
building value
new educational
 Consolidating
ageand
appropriate
groups space organization
 Long
term three-story
value for construction
dollars spent
Compact, energy
efficient,
building maximized
space for practice fields and parking
 Least disruptive to educational process
Best long-term value for dollars spent
Option 1:
Additions & Renovations
Site Plan / First Floor Plan
N Arch St.
Mulberry St.
38
Option 2:
Additions & Renovations
Site Plan / First Floor Plan
43
Option 3: New High School
Site and First Floor Plan
43
Option 4
11
22
Montoursville Area
High School – Additions and Renovations
`
Need for the Project
Existing Science Rooms
Planned Science Rooms
Montoursville Area
High School – Additions and Renovations
`
Need for the Project
Existing Auditorium
Planned Auditorium
Option 5: Additions and Renovations
Montoursville Area High School
ARCH STREET
MULBERRY STREET
14
Site Plan
Montoursville Area
High School – Additions and Renovations
`
OPTIONS CONSIDERED
PROJECT DESCRIPTION
The District analyzed several scenarios that explored the utilization of existing
Summary
ofbuildings
Site
district
to meet the desired high school educational program.
Site Size
/ Condition:
Acres
(Existing)
These
construction15.4
options
sought
to maximize opportunities and minimize the
constraints
of the School
building site and structure.
Current
Site Usage:
Wetlands: None
Although
each Electricity,
offered a possible
solution,Gas
most
offered undesirable building
Available
Utilities:
Sewer, Water,
Service
organizations,
restricted
and/or
compromises
Proposed
Community
Use sites,
Areas:
Open
Playfields to the educational program.
Parking Count: Estimated 314 spaces
Safety/Security
Measures:
1. Existing
High School - Additions and Renovations
 School Administration Office location allows view to main entrance and parking areas
 Separated
and Bus Drop
Off / Pick Up Areas
2. New Auto
Elementary
School
 Separate Loading Dock and Receiving Area
3. New High School (Option selected)
option was considered
SummaryThis
of Proposed
Project to have the best combination of:
Overall
cost to the
 Additions and
renovations
toDistrict
High School
 of
Educational
Program SF
Improvements
 Demolition
approx. 125,000
of existing structure
 Approx. 
135,000
new SFage
andappropriate
renovations
to approx. 74,815 SF
Consolidating
groups
 One, Two
Three
Levelfor
Masonry
Structure
 and
Long
term value
construction
dollars spent
 Total Square
Footage:
approx.
209,815
SF
 Least disruptive to educational process
Montoursville Area
High School – Additions and Renovations
`
Program Spaces include:

General Classrooms
 Science Labs
 Special Education Classrooms
 Art Rooms
 Music Rooms
 Small Group Instruction
 Library
 Technology Labs
 Business
New Building Systems:
 Heating
 Ventilation
 Air Conditioning
 Electrical
 Plumbing
 Windows/Doors







Family and Consumer Science
Foreign Language
Gymnasium
Auxiliary Gymnasium
Auditorium
Administration Offices
Cafeteria and Kitchen






Fire Suppression
Fire Alarm
Emergency Lighting
Data/Communications
Clock System
Interior Finishes
Montoursville Area
High School – Additions and Renovations
`
Montoursville Area
High School – Additions and Renovations
`
Intentionally Blank
FIRST FLOOR PLAN
EXISTING AND NEW
FIRST FLOOR PLAN
SECOND FLOOR PLAN
THIRD FLOOR PLAN
Main Entrance
Classroom Wing
District Administration Entrance 1
Bird’s eye District Administration 1
District Administration Entrance 2
Stadium Entrance
PROJECT ACCOUNTING BASED ON ESTIMATES
D istrict/C T C :
P rojectN am e:
Montoursville Area
High School
PROJECT COSTS
A.
NEW
Structure Costs
Architect's/Engineer's Fee
1.
2. EPA-Certified Project Designer's
Fee on Asbestos Abatement
3. TOTAL - Architect's Fee
TOTAL
15,336,443
910,760
16,247,203
4,990,353
3,033,993
8,024,346
1,281,722
839,190
2,120,912
3,455,747
1,613,826
5,069,573
X X X X X X
35,000
35,000
25,064,265
6,432,769
31,497,034
on Structure
1,715,254
428,251
2,143,505
X X X X X X
X X X X X X
10,036
10,036
1,715,254
438,287
2,153,541
427,426
142,475
569,901
No Fee
No Fee
427,426
142,475
569,901
27,206,945
7,013,531
34,220,476
12,500
12,500
25,000
Fixtures and Equipment
1. Movable Fixtures and Equipment
2. Architect's Fee
3. TOTAL - Movable Fixtures & Equipment
D. STRUCTURE COSTS, ARCHITECT'S FEE,
MOVABLE FIXTURES & EQUIPMENT TOTAL (A-9 plus B-3 and C-3)
E.
EXISTING
(include site development)
1. General (R ep ort costs for san itary sew ag e d isp osal on lin e E -1.)
2. Heating and Ventilating
3. Plumbing (R ep ort costs for san itary sew ag e d isp osal on lin e E -1.)
4. Electrical
5. Asbestos Abatement (D04, line C-3)
9. TOTAL-Structure Costs (A-1 to A-7-Subtotal plus A-8-c)
B. ARCHITECT'S FEE
C.
(1 of 2)
P roject#:
Site Costs
1. Sanitary Sewage Disposal
4. Architect's/Engineer's Fee for
Sanitary Sewage Disposal
6. TOTAL - Site Costs
F. STRUCTURE COSTS, ARCHITECT'S FEE,
MOVABLE FIXTURES & EQUIPMENT, AND
SITE COSTS -
TOTAL
(D plus E-6)
750
750
1,500
13,250
13,250
26,500
27,220,195
7,026,781
34,246,976
PROJECT ACCOUNTING BASED ON ESTIMATES
D istrict/C T C :
P rojectN am e:
(2 of 2)
P roject#:
Montoursville Area High School
TOTAL
PROJECT COSTS (CONT.)
G.
Additonal Construction Related Costs
1.
4.
5.
6.
8.
9.
H.
Project Supervision (inc. Asbestos Abatement Project Supervision)
Architectural Printing
Test Borings
Site Survey
Contingency
TOTAL - Additional Construction-Related Costs
Financing Costs
FOR THIS PROJECT ONLY
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
I.
Underwriter Fees
Legal Fees
Financial Advisor
Bond Insurance
Paying Agent/Trustee
Fees and Expenses
Capitalized Interest
Printing
CUSIP & Rating Fees
Other
TOTAL-Financing Costs
11,662
14,500
500,000
1,153,024
88,000
140,000
88,000
316,000
40,000
40,000
40,000
120,000
26,125
47,000
26,125
99,250
1,500
1,500
1,500
4,500
8,750
8,750
8,750
26,250
10,000
14,000
10,000
34,000
174,375
251,250
SERIES OF
2015
BOND ISSUE/NOTE
SERIES OF 2017
X X X X X X
X X X X X X
BOND ISSUE/NOTE
SERIES OF 2016
BOND ISSUE/NOTE
J. AMOUNT FINANCED
FOR THIS PROJECT ONLY
K. ORIGINAL ISSUE DISCOUNT/
PREMIUM FOR THIS PROJECT ONLY
L. INTEREST EARNINGS
FOR THIS PROJECT ONLY
Q. TOTAL REVENUE SOURCES
83,109
BOND ISSUE/NOTE
SERIES OF 2015
TOTAL PROJECT COSTS
Revenue Sources
543,753
174,375
36,000,000
(F plus G-9 plus H-10)
BOND ISSUE/NOTE
SERIES OF
2016
600,000
BOND ISSUE/NOTE
SERIES OF
2017
10,000,000
16,000,000
9,975,000
7,000
11,000
7,000
TOTAL
35,975,000
25,000
36,000,000
DETAILED COSTS
D istrict/C T C :
P rojectN am e:
Montoursville Area
High School
P roject#:
NEW
EXISTING
TOTAL
2,725,364
480,947
3,206,310
3. Plumbing
12,500
12,500
25,000
4. Electrical
180,000
20,000
200,000
9. Site Development Costs - Total
2,917,864
513,447
3,431,310
B. ARCHITECT'S FEE ON SITE DEVELOPMENT
175,072
30,807
205,879
A.
Site Development Costs
1. General
(include Rough Grading to Receive Building)
2. Heating and Ventilating
EXISTING
C.
Asbestos Abatement
1. Asbestos Abatement
35,000
2. AHERA Clearance Air Monitoring
3. Asbestos Abatement - Total (D02, line A-5)
D. EPA-CERTIFIED PROJECT DESIGNER'S FEE ON ASBESTOS
35,000
10,036
ABATEMENT (D02, LINE B-2)
E.
Roof Replacement / Repair
1. Roof Replacement Repair
50,000
2. Owner Controlled Insurance Program on Roof Replacement/Repair
3. Builder's Risk Insurance (if not included in primes)
4. Roof Replacement/Repair - Total
F. ARCHITECT'S FEE ON ROOF REPLACEMENT/REPAIR
50,000
3,000
ACT 34 OF 1973: MAXIMUM BUILDING CONSTRUCTION COST
FOR NEW BUILDING OR SUBSTANTIAL ADDITION ONLY
D istrict/C T C :
P rojectN am e:
Montoursville
P roject#:
High School
Act 34 applies only to costs for NEW CONSTRUCTION.
The legal requirements
do not address the costs for alterations to existing structures. For this
reason, costs associated with the existing structure and other related costs
should not be included in the following calculations.
A. STRUCTURE COST, ARCHITECT'S FEE, MOVABLE FIXTURES
AND EQUIPMENT (D02, line D-NEW)
$
27,206,945
$
3,092,935
B. EXCLUDABLE COSTS FOR NEW CONSTRUCTION
1. Site Development Costs (D04, line A-7-NEW) $ 2,917,864
2. Architect's Fees on the above
excludable costs
3. Vocational Projects Only - Movable
Fixtures & Equipment (D02, line C-3-NEW)
4. Total Excludable Costs
$
175,072
$
(B-1 plus B-2 and B-3)
C. ACT
34 MAXIMUM BUILDING CONSTRUCTION COST
(A minus B-4)
$
24,114,009
$
26,043,130
IF THE MAXIMUM BUILDING CONSTRUCTION COST BASED ON BIDS IS EQUAL
TO OR GREATER THAN THE MAXIMUM BUILDING CONSTRUCTION COST BASED ON
ESTIMATES PLUS EIGHT PERCENT (LINE D), A SECOND PUBLIC HEARING WILL
BE REQUIRED BEFORE ENTERING INTO CONTRACTS AND STARTING CONSTRUCTION
ON ANY PLANNED WORK.
D. ACT 34 MAXIMUM BUILDING CONSTRUCTION COST
TIMES 1.08 (C times 1.08)
TABLE I
Montoursville Area School District
Comparison of Various Methods of Financing
High School
Costs
General
Obligation
Local
Authority
SPSBA
Costs of Construction:
High School (1)
35,374,250
35,374,250
35,374,250
316,000
150,000
95,000
26,250
34,000
4,500
325,000
175,000
115,000
30,000
45,000
7,500
325,000
160,000
115,000
25,000
45,000
7,500
Total Requirements
36,000,000
36,071,750
36,051,750
Less:
Interest Earned (3)
25,000
26,750
26,750
36,045,000
36,025,000
Financing Costs: (2)
Bond Discount
Legal Fees
Bond Insurance
Printing & Miscellaneous
Rating & CUSIP
Paying Agent
Size of Bond Issues
35,975,000
Montoursville Area
High School – Additions and Renovations
`
Table IIA
Average Annual
Debt Service (1)
$2,744,000
Net Debt Service
After State
Reimbursement (2)
$2,493,500
Mills Required
for Direct Debt
3.29 Mills
1.90Mills (3)
Total Mills
Required for Direct
and Indirect Costs
3.2966Mills
1.9066Mills (3)
TABLE IIB
Montoursville Area School District
Wraparound Debt Structure
Act 34 Hearing: Millage Requirement Study - Series of 2015 - $10,000,000, Series of 2016 - $16,000,000, Series of 2017 - $9,975,000
Option 1 Wrap: $35,975,000
(0.20 Additional Mills, Use of Surplus,
6 Year Millage Phase-In)
16-Dec-14
Fiscal
Year
Ending
June 30
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
TOTAL
Total Net
Outstanding
D/S (1)
Series 2015
$10,000,000
Bond Issue
Net D/S (2)
Series 2016
$16,000,000
Bond Issue
Net D/S (3)
Series 2017
$9,975,000
Bond Issue
Net D/S (4)
2,013,256
2,012,458
2,012,021
2,014,078
2,015,255
2,016,099
2,014,713
2,014,346
1,622,544
0
0
0
0
0
0
0
0
0
0
0
0
0
0
410,397
378,828
378,828
378,828
378,828
378,828
378,828
378,828
998,828
999,980
999,628
997,782
999,458
999,431
997,567
998,877
998,262
1,000,743
996,148
999,628
1,000,896
0
286,334
687,201
687,201
687,201
687,201
687,201
687,201
687,201
1,647,201
1,648,217
1,646,601
1,652,358
1,650,110
1,649,953
1,651,465
1,649,435
1,648,995
1,644,951
1,652,342
1,645,382
1,644,732
0
0
165,096
506,231
509,911
508,071
505,863
508,241
899,953
944,349
940,201
944,315
936,683
937,680
936,939
939,399
939,721
942,901
943,801
942,432
943,815
392,663
0
0
17,734,770
0
0
16,049,419
0
0
26,528,475
0
0
15,288,261
Less:
Interest Earnings/
SD Reserves (5)
20,419
312,008
412,832
175,321
920,578
Total
Net
Debt
Value of
1 Mill
(6)
Mills
Total
Available
Mills New Mills from Prior
Required
Debt
Total
Mills in
Place
Dollars
Appropriated
Budget
Surplus
(Deficit)
2,013,256
2,688,770
2,931,138
3,173,506
3,415,874
3,590,199
3,586,605
3,588,616
3,588,526
3,590,377
3,588,398
3,590,544
3,586,823
3,587,248
3,586,322
3,588,430
3,588,032
3,590,157
3,589,495
3,590,922
3,588,825
3,038,291
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
757,400
2.66
3.55
3.87
4.19
4.51
4.74
4.74
4.74
4.74
4.74
4.74
4.74
4.74
4.74
4.74
4.74
4.74
4.74
4.74
4.74
4.74
4.01
0.360
0.340
0.320
0.320
0.320
0.240
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
2.85
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3.21
3.55
3.87
4.19
4.51
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
2,431,254
2,688,770
2,931,138
3,173,506
3,415,874
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
3,597,650
417,998
0
0
0
0
7,452
11,046
9,035
9,125
7,273
9,253
7,107
10,828
10,402
11,329
9,221
9,619
7,494
8,156
6,729
8,825
559,360
0
0
74,680,347
757,400
757,400
0.00
0.00
0.000
0.000
1.900
0.00
0.00
4.75
4.75
3,597,650
3,597,650
3,597,650
3,597,650
Bond Debt Service
Montoursville Area School District
Proposed GO Bonds, Series of 2015 ($10MM Wrap)
Dated Date
5/1/2015
Delivery Date
5/1/2015
rincipal
Coupon
Interest
220,983.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
Debt Service
220,983.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
189,414.00
Period
Ending
12/1/2015
6/1/2016
12/1/2016
6/1/2017
12/1/2017
6/1/2018
12/1/2018
6/1/2019
12/1/2019
6/1/2020
12/1/2020
6/1/2021
12/1/2021
6/1/2022
12/1/2022
6/1/2023
12/1/2023
6/1/2024
12/1/2024
6/1/2025
12/1/2025
6/1/2026
12/1/2026
6/1/2027
12/1/2027
6/1/2028
12/1/2028
6/1/2029
12/1/2029
6/1/2030
12/1/2030
6/1/2031
12/1/2031
6/1/2032
12/1/2032
6/1/2033
12/1/2033
6/1/2034
12/1/2034
6/1/2035
12/1/2035
6/1/2036
Principal
Coupon
Annual Debt
Service
620,000
3.040%
410,397.00
640,000
3.180%
660,000
3.310%
680,000
3.430%
705,000
3.550%
730,000
3.680%
378,828.00
755,000
3.800%
785,000
3.900%
378,828.00
815,000
3.990%
850,000
4.070%
378,828.00
880,000
4.150%
920,000
4.210%
960,000
378,828.00
4.260%
378,828.00
10,000,000
Interest
Debt Service
Annual Debt
Service
220,983.00
220,983.00
189,414.00
189,414.00
410,397.00
189,414.00
189,414.00
189,414.00
189,414.00
378,828.00
189,414.00
189,414.00
189,414.00
189,414.00
378,828.00
189,414.00
189,414.00
189,414.00
189,414.00
378,828.00
189,414.00
189,414.00
189,414.00
189,414.00
378,828.00
189,414.00
189,414.00
189,414.00
189,414.00
378,828.00
189,414.00
189,414.00
189,414.00
189,414.00
378,828.00
189,414.00
189,414.00
189,414.00
189,414.00
378,828.00
189,414.00
189,414.00
189,414.00
809,414.00
998,828.00
179,990.00
179,990.00
179,990.00
819,990.00
999,980.00
169,814.00
169,814.00
169,814.00
829,814.00
999,628.00
158,891.00
158,891.00
158,891.00
838,891.00
997,782.00
147,229.00
147,229.00
147,229.00
852,229.00
999,458.00
134,715.25
134,715.25
134,715.25
864,715.25
999,430.50
121,283.25
121,283.25
121,283.25
876,283.25
997,566.50
106,938.25
106,938.25
106,938.25
891,938.25
998,876.50
91,630.75
91,630.75
91,630.75
906,630.75
998,261.50
75,371.50
75,371.50
75,371.50
925,371.50 1,000,743.00
58,074.00
58,074.00
58,074.00
938,074.00
996,148.00
39,814.00
39,814.00
39,814.00
959,814.00
999,628.00
20,448.00
20,448.00
20,448.00
980,448.00 1,000,896.00
6,049,419.00 16,049,419.00 16,049,419.00
Bond Debt Service
Montoursville Area School District
Proposed GO Bonds, Series of 2016 ($16MM Wrap)
Dated Date
1/1/2016
Delivery Date
1/1/2016
Principal
Coupon
Interest
286,333.54
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
Debt Service
286,333.54
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
Period
Ending
6/1/2016
12/1/2016
6/1/2017
12/1/2017
6/1/2018
12/1/2018
6/1/2019
12/1/2019
6/1/2020
12/1/2020
6/1/2021
12/1/2021
6/1/2022
12/1/2022
6/1/2023
12/1/2023
6/1/2024
12/1/2024
6/1/2025
12/1/2025
6/1/2026
12/1/2026
6/1/2027
12/1/2027
6/1/2028
12/1/2028
6/1/2029
12/1/2029
6/1/2030
12/1/2030
6/1/2031
12/1/2031
6/1/2032
12/1/2032
6/1/2033
12/1/2033
6/1/2034
12/1/2034
6/1/2035
12/1/2035
6/1/2036
Principal
Coupon
Annual
Debt 3.540%
960,000
Service
995,000
3.680%
286,333.54
1,030,000
3.810%
1,075,000
3.930%
687,200.50
1,115,000
4.050%
1,160,000
4.180%
687,200.50
1,210,000
4.300%
1,260,000
4.400%
687,200.50
1,315,000
4.490%
1,370,000
4.570%
1,440,000
4.650%
687,200.50
1,500,000
4.710%
1,570,000
4.760%
687,200.50
16,000,000
Interest
286,333.54
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
343,600.25
326,608.25
326,608.25
308,300.25
308,300.25
288,678.75
288,678.75
267,555.00
267,555.00
244,976.25
244,976.25
220,732.25
220,732.25
194,717.25
194,717.25
166,997.25
166,997.25
137,475.50
137,475.50
106,171.00
106,171.00
72,691.00
72,691.00
37,366.00
37,366.00
10,528,475.04
Annual Debt
Service
286,333.54
286,333.54
343,600.25
343,600.25
687,200.50
343,600.25
343,600.25
687,200.50
343,600.25
343,600.25
687,200.50
343,600.25
343,600.25
687,200.50
343,600.25
343,600.25
687,200.50
343,600.25
343,600.25
687,200.50
343,600.25
343,600.25
687,200.50
343,600.25
1,303,600.25 1,647,200.50
326,608.25
1,321,608.25 1,648,216.50
308,300.25
1,338,300.25 1,646,600.50
288,678.75
1,363,678.75 1,652,357.50
267,555.00
1,382,555.00 1,650,110.00
244,976.25
1,404,976.25 1,649,952.50
220,732.25
1,430,732.25 1,651,464.50
194,717.25
1,454,717.25 1,649,434.50
166,997.25
1,481,997.25 1,648,994.50
137,475.50
1,507,475.50 1,644,951.00
106,171.00
1,546,171.00 1,652,342.00
72,691.00
1,572,691.00 1,645,382.00
37,366.00
1,607,366.00 1,644,732.00
26,528,475.04 26,528,475.04
Debt Service
Bond Debt Service
Montoursville Area School District
Proposed GO Bonds, Series of 2017 ($9.975MM Wrap)
Dated Date
1/1/2017
Delivery Date
1/1/2017
Principal
110,000
Coupon
1.200%
115,000
1.600%
115,000
1.920%
115,000
120,000
2.280%
2.740%
Interest
165,096.25
198,115.50
198,115.50
197,455.50
197,455.50
196,535.50
196,535.50
195,431.50
195,431.50
194,120.50
194,120.50
192,476.50
Period
Ending
6/1/2017
12/1/2017
6/1/2018
12/1/2018
6/1/2019
12/1/2019
6/1/2020
12/1/2020
6/1/2021
12/1/2021
6/1/2022
12/1/2022
6/1/2023
12/1/2023
6/1/2024
12/1/2024
6/1/2025
12/1/2025
6/1/2026
12/1/2026
6/1/2027
12/1/2027
6/1/2028
12/1/2028
6/1/2029
12/1/2029
6/1/2030
12/1/2030
6/1/2031
12/1/2031
6/1/2032
12/1/2032
6/1/2033
12/1/2033
6/1/2034
12/1/2034
6/1/2035
12/1/2035
6/1/2036
Principal
110,000
1.200%
115,000
1.600%
115,000
1.920%
115,000
2.280%
120,000
2.740%
515,000
3.030%
575,000
Annual Debt
Service590,000
165,096.25
165,096.25
615,000
198,115.50
630,000
308,115.50
506,231.00
655,000
197,455.50
680,000
312,455.50
509,911.00
710,000
196,535.50
740,000
311,535.50
508,071.00
775,000
195,431.50
810,000
310,431.50
505,863.00
845,000
194,120.50
885,000
314,120.50
508,241.00
375,000
192,476.50
9,975,000
Debt Service
Coupon
3.330%
3.540%
3.680%
3.810%
3.930%
4.050%
4.180%
4.300%
4.400%
4.490%
4.570%
4.650%
4.710%
Interest
165,096.25
198,115.50
198,115.50
197,455.50
197,455.50
196,535.50
196,535.50
195,431.50
195,431.50
194,120.50
194,120.50
192,476.50
192,476.50
184,674.25
184,674.25
175,100.50
175,100.50
164,657.50
164,657.50
153,341.50
153,341.50
141,340.00
141,340.00
128,469.25
128,469.25
114,699.25
114,699.25
99,860.25
99,860.25
83,950.25
83,950.25
66,900.25
66,900.25
48,715.75
48,715.75
29,407.50
29,407.50
8,831.25
8,831.25
5,313,261.25
Annual Debt
Service
165,096.25
165,096.25
198,115.50
308,115.50
506,231.00
197,455.50
312,455.50
509,911.00
196,535.50
311,535.50
508,071.00
195,431.50
310,431.50
505,863.00
194,120.50
314,120.50
508,241.00
192,476.50
707,476.50
899,953.00
184,674.25
759,674.25
944,348.50
175,100.50
765,100.50
940,201.00
164,657.50
779,657.50
944,315.00
153,341.50
783,341.50
936,683.00
141,340.00
796,340.00
937,680.00
128,469.25
808,469.25
936,938.50
114,699.25
824,699.25
939,398.50
99,860.25
839,860.25
939,720.50
83,950.25
858,950.25
942,900.50
66,900.25
876,900.25
943,800.50
48,715.75
893,715.75
942,431.50
29,407.50
914,407.50
943,815.00
8,831.25
383,831.25
392,662.50
15,288,261.25 15,288,261.25
Debt Service
INDIRECT COSTS FOR RENOVATIONS/ADDITIONS TO HIGH SCHOOL
The following figures reflect anticipated changes in indirect costs for the proposed High School
Project. Since the High School will remain at the existing site with renovations and additions,
the Indirect Costs associated with the Project are minimal. In assessing potential increases in
related costs, the following categories were studied.
PERSONNEL: Current teaching staff, instructional assistants, and office staff will be
sufficient to meet anticipated needs unless any program changes are made and/or if significant
growth in student enrollment occurs.
MATERIALS & SUPPLIES: No additional costs are anticipated unless program changes are
made and/or if significant growth in student enrollment occurs.
COST OF FUEL & UTILITIES:
there could be energy savings.
No additional costs are anticipated and with updated systems
BUILDING OPERATION & MAINTENANCE: Increased costs for maintenance supplies for
the building will be approximately the same as current budget.
PUPIL TRANSPORTATION: No changes in pupil transportation costs are anticipated as a
result of the Project.
INSURANCE PREMIUM: The increase in insurance premium to cover the Project is
estimated to be $5,000 per year.
TOTAL ANNUAL INDIRECT COSTS:
VALUE OF ONE MILL
MILLAGE IMPACT INDIRECT COSTS:
$ 5,000
$ 757,400
0 .0066 Mills
Montoursville Area
High School – Additions and Renovations
Act 34 Maximum Building Construction Cost
`
Maximum Total Project Cost
Be it resolved that the Board of School Directors of MONTOURSVILLE AREA SCHOOL DISTRICT
approves the maximum building cost and maximum project cost listed below.
Be it further resolved that the following costs have been estimated:
Act 34 Maximum Building Construction Cost (new areas of building only)
(Includes: Structure Cost, Architect’s Fee, Moveable Furniture & Equipment
less Site Development Costs and Architect’s Site Design Fee.)
$ 24,114,009
Other Project Costs (renovation costs, site costs, and soft costs)
$ 11,885,991
Maximum Project Cost
$ 36,000,000
Project Credits
State Reimbursement Estimate
$ (3,300,000)
Montoursville Area
High School – Additions and Renovations
PUBLIC HEARING NOTICE
`
Please take notice that a public hearing will be held at the Montoursville Area High School Auditorium, 100 N. Arch
Street, Montoursville, PA 17754 on Tuesday February 24, 2015 at 7:30 p.m. for the purpose of reviewing relevant
matters relating to the additions to and renovations of the Montoursville Area High School (the "Project").
A description of the Project, including facts relative to educational, physical, administrative, budgetary and fiscal
matters of the project, will be presented and will be available for consideration at this public hearing. Beginning
Tuesday, February 3, 2015 a project description booklet will be available for review during business hours (8:00 am
to 4:00 pm) at the Montoursville Area School District Offices at 100 N. Arch Street, Montoursville, PA.
The Board of School Directors of the Montoursville Area School District has adopted, by resolution, the following
costs in connection with this project:
Act 34 Maximum Building Construction Cost (new areas of Building only)
(Includes: Structure Cost, Architect’s Fee, Moveable Furniture & Equipment
less Site Development Costs and Architect’s Site Design Fee.)
$ 24,114,009
Other Project Costs (renovation costs, site costs, and soft costs)
$ 11,885,991
Maximum Project Cost
$ 36,000,000
Project Credits
State Reimbursement Estimate
$ (3,300,000)
This public hearing is being held pursuant to the requirements of PA Public School Code of 1949, approved March
10, 1949, as amended and supplemented, including amendments made pursuant to Act 34 of the session of 1973 of
the General Assembly.
Interested parties that want to be placed on the public hearing agenda may submit their names to the District Office
(address listed above) until 12:00 noon on Tuesday February 24, 2015. Additional testimony will be received from
the floor at the hearing.
Any and all interested parties may appear at and attend the public hearing and may be heard at such public hearing,
(one person, one comment at a time, five minute limitation per individual), and/or may submit written testimony to the
Secretary of the School Board of Directors at the District Office (address listed above) until 12:00 noon, 30 days after
hearing, on Thursday, March 26, 2015.
Existing Conditions
Montoursville Area High School - Deficiencies
Significant deficiencies identified at the Montoursville Area High School include the following:
Some Educational Spaces are too small
Classrooms
Science labs
Band and Choral rooms
Auditorium/Stage
Family and Consumer Science
Fitness Center
Guidance facilities
Inadequate quantity of Educational Spaces
Science labs
Some spaces don't exist
No central gathering/reception space for large groups ( lobby, commons, etc.)
Community spaces
Specialized art facilities
Black Box Theater
No central gathering/reception space for large groups ( lobby, commons, etc.)
Community spaces
Specialized art facilities
Black Box Theater
Existing Conditions
Building Organization
Major public spaces are not controlled from one area (gym, auditorium, cafeteria )
Location of classrooms makes department organization difficult
Safety and Security compromises
Numerous entrances
Internal high school office minimizes view to exterior
Corridors
Spaces utilitarian and lack legibility
Too narrow in some areas
Intersections are too small and interfere with efficiency
No daylight in most areas
Building Infrastructure
Doors difficult to maintain due to wood framing seasonal movement
Wood framing renovations possible but expensive
HVAC system replacement recommended
Plumbing system replacement recommended
Replace portions of electrical system