Portola Middle School and Gompers/Leadership Public Schools

OPSC Funding Status Update

Portola Middle School

• Estimated State Funding -- $14.3M– Seismic and modernization requests– No bonding authority reserved; seismic

conceptual approval on 3/23/11

• Funding requests submitted upon CDE/DSA approval– Approvals anticipated 1-2 weeks (maybe sooner)– Preparing submittal in anticipation of agency

approvals

Gompers/LPS

• LPS– Current estimated State funding $13.4M

• includes January 2012 construction cost index adjustment of 3.76%

• Includes $3M loan component• Preliminary apportionment on 5/28/08; bond authority reserved

up to maximum of $15.3M

– Funding requests submitted upon CDE/DSA approval• Approvals anticipated end of February• Applicant switch has been submitted• Preparing submittal in anticipation of agency approvals• Strategize timing of submittal to maximize funding; balance with

availability of funds for Gompers

Gompers/LPS

• LPS– Advanced fund release option -- $2.4M• Requires update to Charter financial soundness

(received on 1/25/12)• Requires executed Charter School Agreements which

the District and LPS are working to finalize• Submittal deadline is 5/2/12

Gompers/LPS

• Gompers– Estimated State Funding -- $1.8M• Modernization request

– Funding requests submitted upon CDE/DSA approval• Approvals anticipated by end of February (same plan

set as LPS)• Preparing submittal in anticipation of agency approvals

in coordination with LPS funding request

Other Funding Updates

• De Anza HS– Fund Released to District -- $13.3M

• Warrant issued on 2/2/12

• Richmond HS and Nystrom ES– Unfunded approvals

• Richmond -- $11.5M• Nystrom – $747K

– Submitted to participate in current priority in funding round

– State GO Bond sales scheduled for March and April 2012• Amounts and school facility share of sale to be determined

• Kennedy HS – Submitted to OPSC -- $6.1M

Thank you!