Facilities Improvements Bond measure election date: Feb. 14, 2017

Our future

• Community support • Age and condition • Preparing future ready graduates

Key planning considerations

• Overcrowded schools

Key planning considerations

Elementary enrollment forecast

8,000

9,000

10,000

11,000

12,000

13,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Num

ber o

f Stu

dent

s

Year

Elementary School Capacity to Enrollment Forecast

Elementary School Enrollment Total Elementary School Capacity Total

2,612 Students Underhoused in

2027

1,952 Students Underhoused in

2015

excludes portables

Decline due to K-3 class size reduction

Elementary enrollment capacity

8,000

9,000

10,000

11,000

12,000

13,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Num

ber o

f Stu

dent

s

Year

K-5 Elementary Enrollment -vs- Capacity with Proposed Bond Projects

Elementary School Enrollment Total Elementary School Capacity with Bond Projects

1,952 Students Underhoused in 2015

290 Students Underhoused in

2027

Decline due to K-3 class size reduction

excludes portables

2%

3%

4%

5%

6%

7%

8%

9%

10%

11%

12%

13%

14%19

8019

8119

8219

8319

8419

8519

8619

8719

8819

8919

9019

9119

9219

9319

9419

9519

9619

9719

9819

9920

0020

0120

0220

0320

0420

0520

0620

0720

0820

0920

1020

1120

1220

1320

1420

1520

16

Historic Tax-Exempt Bond Rates

Bond Buyer 20 GO Index

2.500%

3.000%

3.500%

4.000%

4.500%

5.000%

5.500%

3.06%

Interest rates at historical lows

• 3% average, annual inflation was applied to “Needed Bond Authority” figures to capture construction costs over the time periods displayed.

• Interest rates on 2022, 2027, and 2032 bonds were adjusted upward to reflect average interest rate on long-term bonds over the past 15 years.

2017 2022 2027 2032

$458,000,000 $530,947,526

$615,513,702 $713,549,077

$64,921,548

$120,074,266

$184,012,026

$0

$100,000,000

$200,000,000

$300,000,000

$400,000,000

$500,000,000

$600,000,000

$700,000,000

$800,000,000

$900,000,000

$1,000,000,000

$595,869,074

$735,587,968

$897,561,103

(or 30% incr over 2017)

(or 61% incr over 2017)

(or 96% incr over 2017)

Notes:

Cost increases on deferred bond approval

• George C. Marshall Elementary • Peter S. Ogden Elementary • Harry S. Truman Elementary • Martin Luther King Elementary • Walnut Grove Elementary • Lieser School (locate at former Marshall elementary) • McLoughlin Middle School • Fir Grove

Replacement school projects

New school projects • Vancouver iTech Preparatory

• NE 25th Ave. Elementary • Downtown Elementary

• Sacajawea Elementary

• Benjamin Franklin Elementary

• Vancouver School of Arts and Academics

• Columbia River High School (500 wing, stadium restoration)

• Kiggins Bowl restoration

Addition/modernization school projects

Facility improvements at all other sites

• Age and condition of basic systems, e.g.: roofs, HVAC, flooring • Safety and security measures • Future-ready learning enhancements

Program estimated cost $ 562,880,000 Revenue source

Bond proceeds $ 458,000,000 State match (est.) $ 50,000,000 Class-size reduction grant $ 42,880,000 Impact fees (est.) $ 12,000,000

Total $ 562,880,000

Design II facilities improvement program

• The combined total bond rate (new and existing bonds) would be $1.52 per $1,000 of assessed property value in 2018.

• The bond rate would increase 9 cents temporarily for the first three years before it drops 17 cents below the current rate.

• The annual temporary increased cost for a median-priced home within VPS boundaries ($225,290 in 2016) would be approximately $20 per year (for three years only).

Design II facilities improvement program

VPS bond rate comparison

YEAR BOND AMOUNT RATE/$1,000 INCREASE

1990 $ 45 million $ 1.25

1994 $ 135 million $ 0.77

2001 $ 87.7 million $ 0.55

2017 $ 458 million $ 0.09 (temporary)

* The bond rate would increase 9 cents temporarily for the first three years before it drops 17 cents below the current rate.

Thank you!