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    Laptop and construction tools

  • LRSD Board Agrees on List of Projects to Present to Voters for Extension of Debt

     

    (August 19, 2021) The Little Rock School District Board approved a recommendation by the administration to move forward with list of proposed facilities projects for which to seek voter approval and an extension of LRSD’s debt.  A “yes” vote would help generate up to $300 million in construction funds to be issued over a three-year-period with the goal of enhancing LRSD facilities. Stakeholders may recall that a Fanning Howey study in 2014 identified $300 million worth of facilities needs at LRSD.  The list of projects was approved following community input and several town hall meetings.  The District is asking voters to refund the December 1, 2015 and December 15, 2015 bond issues, and to extend existing debt service mills by 19 years to 2052. 

    (To see a draft of the proposed projects, watch LRSD Board Work Session:  https://youtu.be/USogeBavWwI or click on the following link for Debt Service Extension Projects. Click on this link for more on the Bond Options.   Click here for additional information regarding the proposed extension: https://littlerock.novusagenda.com/Agendapublic/ - 7.22.21, page 90)

     

    LRSD Debt Service Millage Extension Proposed Projects 

     Mcclellan architectural renderings of new school

     District Changes

    • New K-8 at McClellan Construction & FFE (Partnership Funding Available) $ 85,000,000
    • Security Camera Upgrades (Primarily Elementary) $ 1,500,000
    • LED Upgrades (All schools and stadiums) $10,000,000
    • Window Replacements (Dunbar, Central, others) $10,000,000
    • Bleacher Replacement $400,000
    • HVAC Replacements (Beyond ESSER Projects) $12,000,000
    • Classroom Furnishings Replacements $8,750,000
    • Playground Equipment Replacements $2,500,000
    • New LR West High School $85,000,000
    • Flooring Replacements (Carpet and LVT) $2,500,000
    • Interior & Exterior Painting $2,500,000
    • Landscaping $2,000,000
    • Classroom Expansions at Specific Schools (Portable Removal) $ 55,000,000
    • Parking Lot Resurfacing $1,800,000

     

     New McClellan Architectural drawings

    High School Renovations:

    Central  $8,500,000

    • Fieldhouse
    • Auditorium

    Parkview  $1,500,000

    • Auditorium (Worldclass)
    • Science Upgrades

    Hall   $300,000

    • 700 Wing (Engineering/EAST)
    • Wire Coverings

    Little Rock West School of Innovation $350,000

    • Science Lab
    • Café Area

     

    Roof Replacements

    • Jefferson - 1985 (Partnership Funding Available) $1,200,000
    • Baseline - 1995 (Partnership Funding Available) $1,000,000
    • Dunbar - 2021 - $500,000
    • Metro A & C Buildings - 1990 - $750,000
    • Henderson - 1990 - $1,500,000
    • Washington - 1989 - $1,200,000
    • Romine - 1976-2003 - $1,000,000
    • ML King - 1993 - $1,000,000
    • Fulbright Main - 2002 - $500,000
    • Geyer Springs - 2004 - $750,000

     

    GRAND TOTAL FOR ALL UPDATES $300,000,000

     

    November 2nd, 2021

    The LRSD Community will go to polls (Early voting: Tuesday, October 26 – Monday, November 1)
    LRSD staff cannot advocate – can only provide factual information

    Ballot History

    • 2000 - Voters approved additional 5.0 mills (3.0 to Debt Service & 2.0 to Dedicated M&O)
    • 2017 – Debt Service Millage Extension failed 3,941 to 7,184 (35.42% to 64.58%)
    • 2020 - Debt Service Millage Extension failed 32,528 to 37,980 (46.19% to 53.81%)
    • 2021 – Voters go to the polls (Early voting: Tuesday, October 26 – Sunday, October 31)

    Debt Service Millage Extension

    • Extends our debt service payments for an additional 19 years
    • Not a tax increase but it does extend the payments of debt
    • By Refinancing we can generate up to $300 million
    • These funds can only be used for capital expenditures
    • Funds have to expended within 3-years
    • There can be multiple bond offerings

    LRSD FACILITY MANAGEMENT

    • Fanning Howey Facility Study 2014 (Commissioned by local Board)
    • Refunded Bonds over past 12 years that produced savings of $29 million for capital improvements
    • LRSD Energy Conservation Project - $12,861,672
    • LRSD 2nd Lien Loan - $93,291,592
    • Pinnacle View Middle School Campus & LR West School of Innovation
    • LR Southwest High School

    Facility Realities

    • Average age of LRSD school is 65+ years
    • Many infrastructure needs (roofs, HVAC, electrical, plumbing)
    • Specialty classroom renovations (SPED, CTE, science, art, music)
    • Exterior and interior aesthetics