Progress Reports 2015-16
March 31, 2016
Highland Park ISD continues to make progress toward starting construction related to the $361.4 million bond election approved by voters in November 2015.
The following is an update on what has taken place so far:
Bond sale
In February, the district sold $225 million in bonds with a 20-year amortization at an interest rate of 2.95%, well below the 4.5% interest rate prior to the November bond election. By taking advantage of such a low rate, HPISD taxpayers will pay less than initially expected. The 2016-17 tax rate will be released in August.
New elementary school
Significant progress has been made on plans for the district's first new elementary school in nearly 70 years. Several focus groups have provided input on both the exterior and interior design of the school and the board has received two updates from the district's architect. Click below to view the most recent School Board presentation.
In addition, the district has been working with officials from the City of Dallas regarding the permitting and zoning for the new school as well as the traffic plan around the site. While final approval will still be needed from the Dallas City Council, the district remains on track to begin construction in early summer.
Construction firms
Following a competitive process, the firm of Balfour Beatty was selected to handle construction related to the bond program at all of the district's elementary schools. A second competitive process has begun to select a construction firm to work on additions/renovations to McCulloch Intermediate School/Highland Park Middle School and Highland Park High School.
To read more about the March 2016 Facilities Update, click here.
January 25, 2016
Progress continues to be made in laying the groundwork for several major projects approved by HPISD voters in the 2015 bond election.
The following is an update on plans for the district's facilities:
Upcoming bond sale
The Finance Committee of the HPISD School Board held a public meeting Jan. 14 to discuss, in part, the timing and sale of bonds to finance the construction projects. With the counsel of the district's bond market advisor, the committee reviewed several options and determined that selling $225 million in bonds with a 20-year amortization would be the most prudent course of action. Contributing to the decision is a very favorable bond market and HPISD's "Aaa" rating from Moody's Investor Service. The School Board has authorized the administration to sell the bonds with a sale expected to take place in February.
If the sale goes as anticipated, the tax rate increase is expected to be less than what was initially projected prior to the election. Look for further updates on the bond sale in February.
5th elementary campus
HPISD is continuing to work with Northway Christian Church to purchase land for a fifth elementary school. The talks are going as scheduled and the sale of property is expected to be completed this spring.
Designs for the school are still in the preliminary stage, and HPISD administrators are working with architects and focus groups on the layout of the interior of the campus. It is expected that the initial designs for the building will be presented at the Feb. 9 School Board meeting.
HPISD has engaged the services of Masterplan to assist with the permitting and zoning for the new elementary campus, which will be located within HPISD's boundaries and the City of Dallas. Masterplan has worked with hundreds of schools throughout Dallas to ensure that they met City Hall's requirements.
To read more from the January 2016 Facilities Update, click here.
December 4, 2015
The planning process is underway so that construction can soon begin on several of the major projects approved by voters during last month's bond election.
Throughout November, HPISD administrative staff held several planning meetings to begin mobilizing the necessary resources to implement the projects envisioned by the HPISD Board of Trustees and the Facilities Advisory Committee.
"These past few weeks have been critical to us as a school district administration to figuratively lay the groundwork so that construction can begin in earnest on the new elementary school this spring," said HPISD Superintendent Dr. Tom Trigg. "While I know that we all wish that these projects were already under construction, the planning we do now will reap benefits in the future."
Click here to read the full article.