Below are some of the highlights of the Measure TT Bond Construction Program over the last year.

The District’s Bond Management Team is Assembled:

At the beginning of the Measure TT Bond Construction Program, the District made a decision to create an in-house Bond Management Team instead of hiring a Bond Construction Management Firm to oversee the Bond Program. During the last six months, the Bond Management Team has been assembled (see organizational chart).

Facilities Master Plan (FMP) Update & Budget Realignment:

The Facilities Master Plan (FMP) was originally developed in 2008 and updated in 2009. Since then two schools have been closed (Loma Alta & Burbank) and anticipated State leveraged funds (Modernization & Deferred Maintenance Funds) did not materialize. The FMP is currently being updated to reflect the current state of the Measure TT Construction program.

Over the last few years, the State has ceased funding Modernization and Deferred Maintenance. As part of the FMP Update, staff has reviewed the FMP Budget and determined that it is necessary to realign the budget for each site to reflect the actual funds available; therefore, staff is working with each site design team to realign the project budgets (see Measure TT Budget Update presentation).

Pending Sale of Measure TT Bonds:

The first Series of Measure TT Bonds in the amount of $125 Million, were sold in 2009 with the anticipation that a second Series would be sold in 2012 (another $125 Million) and a third and final series ($100 Million) would be sold in 2014, for a total of $350 Million. This year (2012), we are preparing to sell the second series of Bonds. Of the original $125 Million funds generated from the first Series of Bonds, nearly $80 Million have been committed to Measure TT projects. Recent cash-flow analysis indicates that the second series of Bonds will need to be sold in order to support the Measure TT projects planned for the next two years.

Measure TT Work Progress:

Blair Middle School is the first major Measure TT project to be completed. In the Fall of 2011, Blair Middle School opened its doors for operation (see photos). There are Measure TT projects at each school currently underway in various phases from design to construction (see project list summary).

New Citizens Oversight Committee (COC) Members Appointed:

The Citizens Oversight Committee COC was originally formed in 2009. The COC Bylaws state that there should be between 12 to 15 members on the COC. At the beginning of 2011 we had five (5) vacancies on the COC. In late 2011, the District solicited members of the community to join the COC. In early 2012, a selection committee identified five (5) new members and two (2) alternates to serve on the COC. The Board approved the appointments on March 27, 2012.

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