SOUTH WASHINGTON COUNTY SCHOOLS PROPSED SCHOOL CONSTRUCTION PROJECTDESCRIPTION OF PROPOSED SCHOOL CONSTRUCTION PROJECT
DESCRIPTION OF PROPOSED SCHOOL CONSTRUCTION PROJECT
The South Washington County Independent School District 833 is proposing the purchase of a privately-owned facility across from Liberty Ridge Elementary School that is currently leased by the district for prekindergarten and early childhood education. The district plans to renovate the 10,000 square foot building and construct a12,500 square foot addition to the site creating a kindergarten school readiness center with eight kindergarten classrooms, two school readiness classrooms including a kitchen and cafeteria, music, media and special needs spaces. The total size when completed will be 22,500 square feet. The project will be completed in 2012 for the 2012-13 school year.
The total project cost is estimated at $4,640,000 including bond issuance. The authority for the financing the project is as follows:
• Purchase and renovation of the facility under Minn. Stat. §126C.40, lease-levy purchase;
• Construction of a 2,000 square foot addition under Minn. Stat. §126C.40, lease levy purchase;
• Construction of a 10,500 addition under Minn. Stat. §465.71 Installment: Lease purchase; and
• Use of unspent bond proceeds from the district's 2006 facility bond referendum.
The district is proposing to finance the project using $4,190,000, 15 year Certificates of Participation (COPs) and, upon recommendation of the district's legal counsel, the district will use $450,000 unused bond proceeds from the 2006 facility bond referendum. The purchase and renovation of the existing 10,000 square foot facility and 2,000 square feet (instructional space) of the proposed 12,500 square foot addition will qualify for lease purchase levy under Minn. Stat. §126C.40. Beginning with the 2012 payable 2013 levy cycle, the district will levy annually for the portion of the lease-purchase payments that qualify for the lease-purchase levy. The annual lease payment is estimated at $350,332 of which $235,423 will be eligible for the lease-levy; the balance of $114,909 will be paid using operating capital funds. School board approval is required to proceed with this project. The school board believes that the Liberty Ridge project is in the best interest of the district.
REVIEW AND COMMENT STATEMENT
Based upon the department's analysis of the school district's required documentation and other pertinent information from sources of the Minnesota Department of Education, the Commissioner of Education judges the proposed construction to be educationally and economically advisable.
ADDITIONAL INFORMATION IS AVAILABLE
Persons desiring additional information regarding this proposal should contact the school district superintendent's office.
Dr. Brenda Cassellius
February 6, 2012