The minutes from the August 26, 2015 and September 8, 2015 meetings were approved unanimously.
Executive Officer Statement
Lisa Silverman provided updates on the following:
– Current Priority Funding Filing Round: The current round opened on November 11, 2015 and will close on December 10, 2015. There are currently 15 projects for 10 school districts on the Unfunded List (Lack of AB 55 Loans) totaling $87.4 million that could submit a request to participating in this filing round.
– Status of Fund Releases for Priority Funding Apportionments: On September 8, 2015, the Board approved $190.9 million in priority funding apportionments for 53 projects representing 26 school districts. Districts that received an apportionment were required to submit a valid Fund Release Authorization (Form SAB 50-05) containing an original signature by Monday, December 7, 2015 to Office of Public School Construction (OPSC). Seven Career Technical Education Facilities Program Projects were approved as a reservation of funds.
– Requirements for Participation in Priority Funding: Reminder that non-participation regulations are in effect.
– Cost of August Bond Sale – Previously, the Board inquired whether the State would incur increased costs for the General Obligation Bond sale that commenced on August 26, 2015. Per the Treasurer’s Office, general market interest rates were slightly higher in August 2015 as compared to the March and April 2015 sales.
– Regulation Update – On November 3, 2015, the Office of Administrative Law (OAL) approved amendments to the School Facility Program (SFP) regulations to implement SB 854 (2014). The amendments, approved by the Board in October 2014, remove the additional prevailing wage monitoring grant for projects with a public works contract award on or after June 20, 2014.
The consent agenda was approved unanimously. Items included, but were not limited to, the following:
The Board approved four projects worth $18,717,858.20 within existing bond authority:
– Facility Hardship: $2,210,326
– Charter: $14,171,144.20
– Seismic Mitigation: $2,336,388
The Board also approved one Charter School Facility Grant Program preliminary apportionment worth $513,511.
Charter Extension to Conversion Deadline Items
The Board approved one request for a one-year extension to the conversion deadline for one project participating in the Charter School Facilities Program (CSFP). CSFP projects must convert from a preliminary to a final apportionment within four years, with the option for a one-year extension.
Unused Sites Program
The Board approved nonuse payments, waivers, reduction of fees, additions and deletions for unused school sites. A total of $3,802,762 will be withheld for Fiscal Year 2014-15.
The following bond authority balances account for Unfunded Approvals made at the June 30, 2015 meeting:
|SFP Program||Prop. 1D||Prop. 55||Prop. 47|
|New Construction||$0.1 million||$5.1 million||$1.0 million|
|Seismic Repair||$91.4 million||—||—|
|Overcrowding Relief||$4.5 million||—||—|
|Modernization||$2.1 million||$0.0||$0.1 million|
|Career Technical||$17.9 million||—||—|
|High Performance||$0.5 million||—||—|
|Charter School||$2.5 million||$1.4 million||$0.1|
Palm Springs Unified/Riverside County
This item was withdrawn from the agenda.
Reports, Discussion, and Information Items
Annual Legislative Update
OPSC staff provided an update on the passage of legislation in 2015 that may impact programs administered by the Board.
The next State Allocation Board meeting is scheduled for Wednesday, January 27, 2016.
~ Rebekah Cearley