>> NOW WE'RE >> NOW WE'RE GOING TO CALL THE JUNE 24, 2025 GROWTH MANAGEMENT AND AFFORDABLE AND AFFORDABLE HOUSING AND AFFORDABLE HOUSING WORKSHOP TO ORDER. SUPERINTENDENT. AYERS AYERS AYERS AYERS>> Van Ayers: THIS IS A LIEUTENANT OF INFORMATION GATHERING FOR US.
WE WILL HAVE DISCUSSION AND THERE WILL BE THERE WILL BE FUTURE WORKSHOPS AND DISCUSSIONS AROUND AND DISCUSSIONS AROUND HERE. SO NO PRESSURE THAT YOU ARE COMING OUT OF HERE MAKING DECISIONS. THIS IS PART ONE OF FUTURE DISCUSSIONS WE'LL HAVE MOVING FORWARD. I'LL TURN IT OVER TO I'LL TURN IT OVER TO DEPUTY SUPERINTENDENT SUPERINTENDENT FARKAS. >> Christopher Farkas: THERE'S A LOT OF STUFF IN THIS NOTEBOOK AND I'M GLAD HE STARTED IT THIS WAY BECAUSE WAY BECAUSE THERE'S A LOT OF
MATERIAL HERE AND VARIABLES. THE WHOLE POINT OF TODAY'S CONVERSATION AND WORKSHOP IS TO LEVEL SET, MAKE SURE WE'RE ALL ON THE ON THE SAME PAGE AND HAVE THE SAME INFORMATION GOING FORWARD. WE ANTICIPATE QUESTIONS AND A FOLLOW-UP WORKSHOP BASED ON WHAT THE BOARD TALKS ABOUT TODAY. WE'LL TALK A LITTLE BIT ABOUT THE THE SHEET.
WE TRIED TO DEVELOP INTO THREE SECTIONS, GROWTH MANAGEMENT, IMPACT FEES, REAL ESTATE EVALUATION AND AFFORDABLE HOUSING AS WE GO FORWARD. WE HAVE JOHN FORD FROM FORD & ASSOCIATES WHO HAS BEEN WITH THE COUNCIL AND WORKED WITH THE DISTRICT FOR 30 YEARS THE DISTRICT FOR 30 YEARS AND AROUND -- ANDREW WRIGHT FROM FRANKLIN STREET. WE'LL MOVE WE'LL MOVE TO GROWTH MANAGEMENT AND IMPACT FEES.
GROWTH MANAGEMENT TALK ABOUT FISH -- FLORIDA HOUSE OF EDUCATIONAL PLANT SURVEY. A FIVE A FIVE YEAR PLAN AND DEVELOPMENT TRACKING. STUDENT DEMOGRAPHICS, THE PRINCIPLES SAY IS THE SCHOOL FULL OR FULL OR NOT. REAL ESTATE TRANSACTIONS, PURCHASING AGREEMENTS, LEASES WE HAVE WITH TECO AND OTHER HAVE WITH TECO AND OTHER PLACES. SCHOOL SIGHTING. THE SCHOOL ATTENDANCE BOUNDARIES, AND
BOUNDARIES, AND OUR BOUNDARIES, AND OUR GIS BASED BOUNDARIES, AND OUR GIS BASED IN GROWTH MANAGEMENT AND GROWTH MANAGEMENT AND PLANNING. SCHOOL DEVELOPMENT IS A BIG PART. WE TRACK DEVELOPMENT IN HILLSBOROUGH COUNTY. OUR 40th DAY ENROLLMENT IS OUR SNAPSHOT OF WHAT WE LOOK FOR AND THAT'S WHAT OCCURS ON THE 40th DA Y OF Y OF ENROLLMENT. YES, THERE ARE YES, THERE ARE VARIABLES. 40 DAYS IS THE SNAPSHOT WE LOOK AT.
FISH FISH CAPACITY FISH CAPACITY IS FISH CAPACITY IS DETERMINED BY THE THE STATE. YOU WILL HEAR LEVEL OF SERVICE AND CONCURRENCY SEVENS. CON CURRENCY IS ONE THAT USED TO BE THE ROOM AT THE LOCAL SCHOOL OR THE CONTIGUOUS OR THE CONTIGUOUS SCHOOLS. THE STATE CHANGED IT SO WRITTEN
IN THE ENTIRE COUNTY. FIVE-YEAR FACILITIES PLAN, YOU SEE TWICE, END OF JULY AND OCTOBER. DEVELOPMENT REVIEWS, WHENEVER ANYBODY WANTS TO BUILD, IT COMES TO THE GROWTH MANAGEMENT AREA AND THEY TALK ABOUT IT AND MAKE SURE WE HAVE ROOM FOR IT. THEY COORDINATE THE PLANNING, LINE WITH LOCAL PLANS, DO DATA SHARING AND ESTABLISH A REVIEW PROCESS. I'M GOING TO BUILD 100 HOMES, WHAT DOES THAT LOOK LIKE, IS THERE ROOM IN THE LOCAL THERE ROOM IN THE LOCAL SCHOOLS. ONCE APPROVED, THEY MAY NOT BUILD IT FOR TEN OR 15
BUILD IT FOR TEN OR 15 YEARS. THE ECONOMY TAKES A DOWNTURN, THEY DECIDE TO BUILD IT WHEN THEY NEED TO. THAT'S A BIT OF A CHALLENGE. PART OF THE INTERLOCAL AGREEMENT, THE AGREEMENT, THE ILA, IS AGREEMENT, THE ILA, IS THE LONG RANGE PLANNING IN THE NEXT FIVE YEARS. YOU WILL SEE YOU WILL SEE THE LONG RANGE PLANNING STUDY FINAL DRAFT IN AUGUST. ALSO PART OF THAT IS WE'LL TALK ABOUT IMPACT ABOUT IMPACT FEES. ARE THERE ENOUGH
ARE THERE ENOUGH SEATS THEY DO A PROP SHEAR AGREEMENT WHICH IS A PRE-PAYMENT OF WHICH IS A PRE-PAYMENT OF FEES. THE OTHER ONES, WAIT TILL THERE'S CAPACITY AND WE BUILD IT. THAT IS A REGULATED PROCESS, NOT A COUNTY PROCESS THAT WE COME UP WITH. ONE OF THE CHALLENGING THINGS ARE, YES, THERE ARE 100 HOMES, BUT HOW MANY KIDS WILL COME OUT OF THE 100 HOMES?
THAT IS THE VARIABLE WE DON'T CONTROL. I USE MY NEIGHBORHOOD AS AN INSTANCE. THERE'S ABOUT 100 HOMES IN MY NEIGHBORHOOD. WHEN I DO MY NORMAL WALKS AROUND THE NEIGHBORHOOD, THIS YEARERS THERE WAS TEN SENIORS IN THE 100 HOMES THAT JUST GRADUATED. THEY PUT THE YARD SIGNS OUT FRONT. STATISTICALLY THAT'S IMPOSSIBLE. NO WAY YOU WILL HAVE TEN SEATERS OUT OF THE HOMES. DEPENDS ON WHEN PEOPLE MOVE IN. GENERATION RATE IS DIFFERENT FOR THE THE GRADES.
THERE'S A 100 HOME NEIGHBORHOOD. IN THEORY, WE SHOULD HAVE 20 ELEMENTARY KIDS, 9 MIDDLE 9 MIDDLE SCHOOL KIDS AND 14 HIGH SCHOOL KIDS. THAT IS A HUGE VARIABLE. WE DON'T CONTROL THAT. THE COUNTY REQUIRES THAT WE HAVE THAT DEVELOPMENT THAT DEVELOPMENT RATE. WHAT DOES THAT LOOK LIKE? WE DID AN WE DID AN EXAMINER WE DID AN EXAMINER OF THE NEIGHBORHOODS WE HAVE HERE. YOU SEE THE NEIGHBORHOODS, HOW MANY RESERVATIONS FOR THE NEIGHBORHOODS BASED ON THE GENERATION RATES AND WHAT THIS LOOKS LIKE FOR ONE GROWTH
LOOKS LIKE FOR ONE GROWTH AREA. SO SO FAR, 504 STUDENT RESERVATIONS, THE AREAS RESERVATIONS, THE AREAS ON RESERVATIONS, THE AREAS ON I-4 AND HEADED AND HEADED NORTH, ALL AND HEADED NORTH, ALL THE DIFFERENT NEIGHBORHOODS NORTH OF PLANT CITY, WE TRACK THEM TO MAKE SURE WE KNOW WHAT'S COMING. WHAT'S AN EXAMPLE? LET'S TAKE A LOOK INTO THE CHART YOU SEE BELOW YOU SEE BELOW US. NORTH PARK ISLAND, THERE'S A LOT
OF ARTICLES ABOUT WHETHER WE SHOULD HAVE BOUGHT THIS PROPERTY. 2014, THAT'S WHAT NORTH PARK ISLE LOOKS LIKE NORTH OF PLANT CITY. NOW IT'S A TOTALLY DIFFERENT SITE. WE OWN THIS PROPERTY WE OWN THIS PROPERTY DOWN WE OWN THIS PROPERTY DOWN HERE. WE HAVE A HIGH SCHOOL THAT'S JUST NORTH OF JUST NORTH OF STINGRAY CHEVROLET. IT'S IMPORTANT TO SEE IN TEN YEARS IT'S A TOTALLY DIFFERENT PICTURE OF WHAT WE'RE LOOKING FOR. ANOTHER IMPORTANT PART OF WHAT
YOU WILL HEAR AND TALK ABOUT IS THE URBAN SERVICE AREA U.S.A. THE URBAN SERVICE AREA THE URBAN SERVICE AREA IS THE PART IN BLUE. A PROPOSED A PROPOSED COMPREHENSIVE PLAT AMENDMENT. IS THERE COUNTY WATER AND IS THERE COUNTY WATER AND SEWER, IS IT SOMETHING WE HAVE ACCESS TO. YOU SEE MORGAN HIGH SCHOOL IS RIGHT HERE. THAT'S IN THAT THAT'S IN THAT AREA. SO IT LOOKS LIKE A SMALL MAP. THEY'RE ESTIMATING THAT'S GOING TO BE 16,000 HOMES, WHICH IS
GOING TO BE EQUIVALENT OF GOING TO BE EQUIVALENT OF ABOUT 1,500 OR 2,000 KIDS COMING OUT OF THOSE DEPENDING ON GENERATION RATES. WE KNOW THE GENERATION RATES ARE AN ESTIMATE. THE REALITY IS IT COULD BE A LOT MORE. THE SUBURBIA GENERATES MORE KIDS THAN THE DOWNTOWN PLACES. YOU WILL SEE A YOU WILL SEE A SIMILAR AMENDMENT NORTH OF PLANT CITY TO MAKE SURE THERE'S CITY WATER NORTH OF PLANT PLANT CITY. THOSE ARE THE THREE SITES WE ALREADY OWN IN PLANT CITY. THERE ARE SITES HERE BELMONT
RESERVE, WATER RESERVE, WATER SET, SOUTH COUNTY CAREER CENTER. WEST LAKE DRIVE WHERE WE'LL OPEN UP IN AUGUST. MORGAN, AND THE MIDDLE SCHOOL THAT FOLLOWS THAT. BISHOP ROAD IS THE SITE WE BOUGHT TEN YEARS AGO AND THEY SAID IT WASN'T UP TO PAR SO WE COULDN'T BUILD ON COULDN'T BUILD ON THAT. MEANWHILE, THOUSANDS OF HOMES ARE BUILT AROUND THAT. WE ANTICIPATE THAT ROAD WILL BE UP TO PAR AND WE'LL BE ABLE TO BUILD THERE. THE COUNCIL GROVE IS ONE WE'RE IN THE PROCESS OF ACQUIRING.
THESE ARE ALL SITES WE OWNS A DISTRICT THAT WE ARE PREPARED FOR THE FOR THE GROWTH. WEST LAKE, THIS IS THE HIGH SCHOOL, YOU CAN SEE THE STAGE OF WHAT IT WAS WHAT IT WAS IN 14 VERSUS NOW. THERE'S LITERALLY HARDLY ANY SUBURBIA AND NOW IT'S COMPLETELY FILLED WITH WHERE WE ARE. PLANT PLANT CITY, PLANT CITY, 9,400 PLANT CITY, 9,400 DWELLINGS, 13900 MIDDLE SCHOOL
13900 MIDDLE SCHOOL. SOUTH WHERE SOUTH WHERE IT SOUTH WHERE IT SAYS -- TWO TOTAL. WE BUILT FIVE, CONVERTED TWO SCHOOLS IN THE FIVE-YEAR PERIOD. WE'LL HAVE A WE'LL HAVE A NEW WE'LL HAVE A NEW LONG RANGE PLAN. DATA WILL SAY WE'LL HAVE WHAT WE NEED. YES WE BUILT FIVE NEW SCHOOLS BUT BASED ON THE SIMPLE MATH, WE STILL NEED 13 MORE SCHOOLS THAT
ARE ARE COMING. AND I THINK IT MIGHT BE HIGHER THAN THAT BASED ON WHAT WE'RE LOOKING AT. IMPACT IMPACT FEES. THIS BOARD, FOR ALL THE LARGE DISTRICTS AND YOU WILL HEAR IT FROM FROM FORD & ASSOCIATES HAS FROM FORD & ASSOCIATES HAS AS LITTLE DEBT AS ANY IN THE STATE BECAUSE WE'VE USED BECAUSE WE'VE USED IMPACT FEES TO DO THAT. IN 2020, THE IMPACT FEES WERE RAISED. HERE'S A LIST OF WHERE WE ARE COMPARED TO OTHER DISTRICTS. ADOPTION PERCENTAGE WE'LL TALK ABOUT GOING FORWARD.
THEY HAVE TO BE UPDATED THEY HAVE TO BE UPDATED ON A REGULAR BASIS. COST OF DESTRUCTION EVEN FROM 2020 HAS DRASTICALLY CHANGED. YOU WILL SEE, WE HAVE A YOU WILL SEE, WE HAVE A LITTLE SNEAK SNEAK PEEK OF THE LONG-RANGE PLANNING STUDY. THEY'RE GUESSING WE'LL GO THEY'RE GUESSING WE'LL GO FROM 8,000 ESTIMATE 8,000 ESTIMATE TO 8,000 ESTIMATE TO $1,708,412.
STLS A FEDERAL STATUTE THAT SAYS YOU CAN'T GO UP MORE YOU CAN'T GO UP MORE THAN 50 PER STATUTE. EVEN IF WE WERE ABLE TO GET IT ADOPTED IT WOULD ADOPTED IT WOULD BE $12,340 WOULD BE THE NEW IMPACT FEE. >> THAT'S THE BOARD OF COUNTY COMMISSIONERS, THEY ADOPT THE ORDINANCE AND SET THE IMPACT FEE. IT'S IMPORTANT FOR THIS BOARD AND THE PUBLIC TO UNDERSTAND YOU HAVE NO CONTROL OVER THAT HAVE NO CONTROL OVER THAT AMOUNT HAVE NO CONTROL OVER THAT AMOUNT AMOUNT.
>> Christopher Farkas: THAT'S IMPORTANT FOR US TO UNDERSTAND. IF WE'RE USING IMPACT FEE ONLY, THIS IS WHERE WE ARE GOING TO BE JUST FUNDING ON IMPACT FEES. THE SALES TAX THE SALES TAX ALLOWS US FLEXIBILITY TO PAY UP FRONT, BUT IT'S ONLY IMPACT FEE FUNDED AT THE END OF THE DAY. THAT'S WHAT WE LOOK LIKE. THE HIGH SCHOOL IN PLANT THE HIGH SCHOOL IN PLANT CITY WOULD BE 29, 39 AND 40, WHEN WE WILL BE ABLE TO AFFORD THAT. AN IDEAL TIMELINE OF WHAT THIS LOOKS LIKE AND EVEN THIS HAS A HIGH SCHOOL IN '33, THE
REALITIES IS IT WILL PROBABLY BE BEFORE THEN AS WELL. YOU WILL SEE YOU WILL SEE A YOU WILL SEE A $275 MILLION, $300 MILLION GAP BETWEEN WHAT WE DO IDEALLY THAN CURRENTLY WITH IMPACT FEES. WE CAN LOBBY TO HAVE IMPACT FEES INCREASED, BUT STILL IT'S A COUNTY COMMISSION DECISION. OR WE GO AND TALK ABOUT WHAT FINANCING LOOKS LIKE AND WHAT ARE OUR CHOICES FOR THOUSAND TO FUND THESE. WE CAN TAKE IT FROM THE GENERAL FUND, BUT JUST TO GET A REFERENCE POINT THE CURRENT GENERAL FUND WOULD BE ABLE TO
BUILD TWO HIGH SCHOOLS AND BE COMPLETELY DEPLETED. IT'S NOT REALISTIC FOR US TO DO THAT FOR NON-REOCCURRING THAT FOR NON-REOCCURRING MONEY. >>> WHAT ARE OUR CHOICES FROM A BOARD STANDPOINT? WE KNOW WE HAVE MORE NEEDS THAN WHAT WE CURRENTLY HAVE THE FUNDING FOR, SO LET'S TALK TO THE PEOPLE WHO ARE EXPERTS AND HAVE BEEN AROUND THE DISTRICT FOR A WHILE AND CAN GIVE US WHAT THAT LOOKS LIKE. WE'LL TURN IT OVER WE'LL TURN IT OVER TO WE'LL TURN IT OVER TO JOHN WE'LL TURN IT OVER TO JOHN FORD.
>> JOHN FORD: WE ATTEMPTED TO DO A COUPLE OF THINGS IN PUTTING TOGETHER THE ANALYSIS. THE FIRST WAS TO PUT TOGETHER A LONG-TERM PROJECTION FOR THE MAIN SOURCES OF REVENUE NOR THE DISTRICTS CAPITAL PROGRAM. THERE ARE A NUMBER OF THERE ARE A NUMBER OF SOURCES. THE LARGEST THE LOCAL CAPITAL IMPROVEMENT MILLAGE, ESTIMATED TO BRING IN TO BRING IN $263 MILLION. IN 2005. WE ASSUME THAT TAX RATE IS CONSISTENT GOES FORWARD AND GROWS ABOUT 4% PER YEAR.
THE HALF-PENNY SALES TAX RUNS THROUGH DECEMBER 31, 2028, AND OVER THE LAST 12 MONTHS BROUGHT IN $206 MILLION BASED ON ACTUAL RECEIPTS THROUGH THE DEPARTMENT OF REVENUE SO IT WON'T MATCH CLEANLY WITH ANY OF THE LAST FINANCIAL STATEMENTS. THE COMMUNITY INVESTMENT TAX WAS SLATED TO EXPIRE AT THE END OF 2026 AND UNTIL THEN THE DISTRICT RECEIVES 25% OF RECEIVES 25% OF THOSE RECEIVES 25% OF THOSE REVENUES. THE TAX THE TAX WAS EXTENDED, BUT THE
SHARE DROPS TO 5%. THE DISTRICT HAS A COUPLE OF SERIES SALES TAX REVENUE BONDS OUTSTANDING AND MATURE NEXT YEAR OCTOBER 1. THAT TAX IS RIGHT ABOUT A QUARTER OF THE SCHOOL HALF PENNY. THEY'RE ALMOST IDENTICAL FROM A COLLECTION STANDPOINT SO THE REVENUE HAS BEEN REVENUE HAS BEEN ABOUT $51 MILLION AS OPPOSED TO THE OVER 200. IMPACT FEES TEND TO BE THE MOST VOLATILE SOURCE OF REVENUE. THEY ARE ALSO ONE OF THE MOST IMPORTANT FOR BUILDING NEW SPACE AND NEW FACILITIES.
CHRIS WAS KIND ENOUGH TO PROVIDE US WITH ESTIMATES OF $40 MILLION IN 2025 IN 2025 AND $30 MILLION A YEAR ON OUT. >> I THE FIGURES COME FROM THE COUNTY. THE COUNTY HELPS US PROJECT THE $30 MILLION AND $40 MILLION IMPACT FEE BASED ON THE GROWTH AND HOMES THEY SEE PURCHASING. THEY SEE IT GOING DOWN $10 MILLION NEXT YEAR BASED ON WHAT THE COUNTY TOLD US WHICH IS INTERESTING BECAUSE THERE'S A HUGE URBAN SERVICE HUGE URBAN SERVICE AREA. WE'LL STILL GET THE MONEY. WE'LL TRACK THAT
WE'LL TRACK THAT CLOSELY, MICHELLE ORTON AND TEAM MANAGEMENT DO A GREAT JOB TRACKING THAT. WE'LL GET MONTHLY STATEMENTS. THAT'S WHAT THEY PREDICTED COMING IN. IT WAS EFFECTIVE IN 2020. WAS $4,000 AND WENT TO $8,000 WAS $4,000 AND WENT TO $8,000 IN 2020. >> EVERY SINGLE ASSUMPTION IS GOING TO END UP BEING WRONG IN ANY PARTICULAR YEAR. [ LAUGHTER ] THE HOPE IS, OVER THE COURSE OF 30 YEARS, WE END UP WITH A RELATIVELY GOOD LONG-TERM TREND LINE BUT HAVE TO LINE BUT HAVE TO CONTINUOUSLY
REEVALUATE OUR POSITION AT ANY GIVEN TIME TO ASSESS THE SITUATION. IT CHANGES MORE QUICKLY THAN LONG-TERM PROJECTIONS. AS THE WORLD IS PROVING NOW, THERE ARE A LOT OF THINGS YOU DON'T SEE COMING OUT OF LEFT FIELD. >> THERE ARE CHARTS IN HERE. THIS IS THE LOCAL CAPITAL IMPROVEMENT MILLAGE. DEPICTS THE 4% GROWTH RATE AND TAXABLE ASSESSED VALUATION AND MAINTENANCE OF THE 1.5-MIL LEVY. THE THE STATUTORY REQUIREMENT
REMAINS REMAINS CONSISTENT. WITHIN THIS, WE SHOW THE TRANSFERS TO CHARTER SCHOOLS BASED ON SUSMS OF GROWTH BASED ON SUSMS OF GROWTH IN DISTRICT OUTLAYS. THE RED IN THE BAR, EXISTING CERTIFICATE OF PARTICIPATION DEBT SERVICE, LEASE PURCHASE AGREEMENTS YOU HAVE OUTSTANDING FOR SEVERAL DOZEN SCHOOLS THAT MATURE BETWEEN NOW AND MATURE BETWEEN NOW AND FISCAL 2031.
SCHOOL CAPITAL OUTLAY, THE HALF CENT CAPITAL AT LEA CENT CAPITAL AT LEA SURTAX UNDER STATUTE RUNS THROUGH THE MIDDLE OF FISCAL '29, END OF CALENDAR YEAR 2028, 3.5% PER YEAR GROWTH, AGAIN NO CHANGES TO THE EXISTING STATUTORY FRAMEWORK. SAME GOES FOR THE SAME GOES FOR THE CIT. DEPICTS HIGHER REVENUES THROUGH 2027, WHEN OUR SHARE DROPS TO 5%. THE RED AGAIN SHOWS EXISTING SALES TAX DEBT SERVICE.
AND THEN, WHEN YOU STACK THEM ALL TOGETHER AND ADD IN THE IMPACT FEES WE TALKED ABOUT AND THREW IN THE THREW IN THE CONDS MONEY, THESE ARE THE REVENUES ARE THE REVENUES THAT WE REASONABLY ANTICIPATE HAVING TORE THE DISTRICT'S CAPITAL PROGRAM NOW. THE BIGGEST CHALLENGE THAT I THINK THAT WE HAVE IS THE THINK THAT WE HAVE IS THE SCHOOL HALF-PENNY SALES TAX THAT MATURES AT THE END OF 2028. IF WE DO NOT IF WE DO NOT ATTEMPT OR SUCCEED TO RENEW THAT OUR CAPITAL FUNDING WILL DROP AND WE WILL NOT ACHIEVE THOSE LEVELS AGAIN
BASED ON THESE MYRIAD OF ASSUMPTIONS UNTIL THE ASSUMPTIONS UNTIL THE EARLY 2040s. SO IT IS QUITE A BIG HOLE IN THE ACTIVITIES THAT THE DISTRICT CAN UNDERTAKE. SO NOW WE SORT OF HAVE AN IDEA OF THE REVENUES THAT WE'RE WORKING WITH. REASONABLE EXPECTATION OF CAPITAL EXPENDITURES NOT INCLUDING MAJOR PROJECTS. SO THESE EXPENDITURES, CONSTRUCTION, MAINTSD AND RENOVATION, THE DEPARTMENT MENTAL BUDGETS, TRANSFERS TO THE GENERAL FUND IS IMPORTANT, BUSES AND VEHICLES IS VERY IMPORTANT, OTHER CAPITAL NEEDS, THESE
THINGS ARE ALL, THINGS ARE ALL, AGAIN, FLAT-LINE ASSUMPTIONS, ASSUME ABOUT 3% GROWTH EVERY SINGLE YEAR BUT DOESN'T INCLUDE THE NEW HIGH SCHOOLS, SCHOOLS, ELEMENTARY SCHOOLS, WHATEVER CHRIS WAS ALLUDING TO. SO NOW WE'VE GOT PROJECTED EXPENDITURES TO COMPARE AGAINST OUR REVENUES, AND WE'VE DONE THAT ON THIS CHART, WHICH IS NOT VERY PRETTY, AND I APOLOGIZE. BUT THE GREEN ARE THE REVENUES THAT WE HAVE TO WORK WITH. THE RED ARE THE PROJECTED EXPENDITURES, AND THEN THE YELLOW BARS DEPICT HOW MUCH
MONEY WE HAVE REMAINING. WHAT'S AVAILABLE FOR NEW CONSTRUCTION DURING THAT TIME. THE GOOD NEWS IS BASED ON THESE ASSUMPTIONS THE YELLOW BARS STAY ABOVE THE ZERO HEIN. WE HAVE MONEY TO WORK WITH IN EVERY YEAR IN EVERY YEAR IN VARYING AMOUNTS. THE BADS BAD NEWS IS BASED ON SUFFERINGS, WE'LL HAVE LESS OR MORE, AND WE'RE GOING TO HOPE FOR MORE. CHRIS HAS ALREADY TALKED ABOUT THE MAJOR CAPITAL PROJECTS. I'LL SKIP OVER I'LL SKIP OVER THAT. >> COULD YOU PLEASE GO THROUGH
THAT AND LET US THAT AND LET US KNOW (INDISCERNIBLE). >> WE CERTAINLY WILL. ALL THESE ARE BOARD APPROVED. ALL WILL COME TO YOU AS PART OF THAT CONVERSATION. THE MEDIA CENTER, THE THE MEDIA CENTER, THE DW STANDS FOR DISTRICT-WIDE, SO THOSE ARE OUT THERE, TOO. AND THIS IS MULTIPLE FUNDING SOURCES OUT THERE, TOO. IF THE BOARD IF THE BOARD APPROVES IF THE BOARD APPROVES THE STUART REBUILD, THE MIDDLE SCHOOL
BUILD, THE BUILD, THE CAFETERIA REDESIGN, THE WATERSHED TWO SITE, THE ALONZO AND STEINBRENNER ADDITIONS, THE PLANT CITY, THE BISHOP ROAD BISHOP ROAD ELEMENTARY BISHOP ROAD ELEMENTARY SCHOOL BISHOP ROAD ELEMENTARY SCHOOL -- I GUARANTEE THERE ARE PROJECTS GOING TO BE NEEDED THAT ARE NOT
ON THIS LIST AND ALL THE ONES ON THE LIST HAVE TO BE APPROVED ANYWAY. WHEN WE WERE THROWING A DART AT A A A A A A DART A A DART ADD A DAFORT BOARD THIS IS WHAT WE CAME UP CAME UP WITH. >> WHEN WE PAY FOR PROJECTS ON A PAY AS YOU GO BASIS, WE ARE TAKING MONEY OUT OF RESERVE OR
CURRENT-YEAR REVENUES AND PAYING FOR A PROJECT IMMEDIATELY, WE'RE NOT INCURRING ANY COST TO ISSUE THE DEBT, ALSO NOT PAYING ANY INTEREST OVER THE YEARS IN WHICH WE AMORTIZE THE PROJECTS. THOSE ARE BOTH REALLY, REALLY GOOD THINGS. IT ALSO MEANS WE'RE NOT EARNING ANY INTEREST ON THOSE RESERVES. IF WE HAD PUT THOSE IN THE BANK, MAYBE WE MAYBE WE WOULD HAVE EARNED LESS OR MORE THAN CURRENTLY PAYING ON OUR BONDS. WE GET TO WE GET TO BORROW ON A TAX EXEMPT BASIS.
CREDIT MATTERS CREDIT MATTERS THERE. TAX EXAMPLES RELATED TO FUNDS YOU HAVE ON HAND OR YOU HAVE ON HAND OR FUNDS IN THE AFFORDABLE FUTURE. YOU MAY GO THROUGH A REVENUE ACQUISITION PERIOD WHERE THE FUNDS BUILD, AND DURING THAT TIME YOU ARE AT RISK FOR PRICE COST INFLATION IN CONSTRUCTION. THAT CAN WORK FOR OR AGAINST YOU. OVER THE LAST SEVERAL YEARS, CONSTRUCTION PRICES HAVE ONLY RISEN. RECENT HISTORY, ONLY WORKED AGAINST US. DEBT FINANCING IS THE OPPOSITE ON EVERY ON EVERY TACET HERE.
THIS WILL ALLOW US TO SPREAD THE COST OF CONSTRUCTING NEW SCHOOLS OVER TIME. NOW, THE GOOD NEWS WITH THAT IS IT ALLOWS PEOPLE WHO WILL MOVE TO THE COUNTY SAY THREE YEARS FROM NOW AND SEND KIDS TO SCHOOLS TO SHARE IN THE COST OF PAYING FOR THOSE SCHOOLS. SO THERE'S A PUBLIC SO THERE'S A PUBLIC POLICY ASPECT THERE. IT ALLOWS US TO CONSTRUCT OR ACQUIRE SCHOOLS OR PROPERTY WHEN WE NEED IT AS OPPOSED TO WAITING FOR FUNDS TO ACCRUE BECAUSE WE CAN REASONABLY ANTICIPATE REVENUES INTO THE FUTURE. IT'S GOING TO ENHANCE OUR CONSTRUCTION AND ACQUISITION
CAPACITY. WE MAY OR MAY NOT BENEFIT FROM A TIME VALUE ASPECT THERE. IF CONSTRUCTION COST INFLATION EXCEEDS THE INTEREST RATE, WE ARE BETTER OFF FOR HAVING PAID AND FINANCED IN THE BEGINNING. IF CONSTRUCTION COSTS GO DOWN, WE WOULD HAVE BEEN BETTER OFF WAITING. I DON'T HAVE THAT CRYSTAL BALL SO I WOULD DEFER TO THE BOARD. WE INCUR INTEREST AND TRANSACTION COSTS WHEN TRANSACTION COSTS WHEN WE FINANCE, DEPENDING ON PREDEVELOPMENT PREDOMINANTLY THE LEVEL OF MARKET RATES, BUT ALSO THE
CREDIT RATING THAT'S GOING TO DEPEND ON THE SPECIFIC FINANCING STRUCTURE, WHETHER TALKING ABOUT GENERAL OBLIGATION BONDS, SALES TAX REVENUE BONDS, CERTIFICATES OF PARTS PAYS OR A OF PARTS PAYS OR A STAND-ALONE LEASE/PURCHASE AGREEMENT, THOSE WILL FACTOR, AND WILL FACTOR, AND TRANSACTION COST AS WELL. FINANCING MAY ALLOW FOR MAINTENANCE AND GROWTH IN RESERVES IN THE CAPITAL FUNDING AREA. IF WE'RE ERPG INTEREST ON THE RESERVES THAT'S COMPARABLE TO OR GREATER THAN WE'RE BORROWING IT, THAT'S A BENEFIT. >> OVER THE LAST NUMBER OF
YEARS, EIGHT TO TEN YEARS, WE HAVE BEEN ON THE GREEN SIDE OF THIS, JUST SO EVERYBODY -- >> 100%. LAST TIME WE BORROWED MONEY WAS THE '90s. WAS A 30-YEAR THAT EXPIRES IN '30, '31. WE HAVE REFINANCED EARLIER. BUT NOT USED IN I MONEY TO BORROW OR BORROW OR USE GENERAL FUND TO DO CONSTRUCTION. ROBINSON HIGH SCHOOL, WE USED THE HALF-PENNY BECAUSE IT WAS TOO EXPENSIVE TO DO THE AC AND NOT WORTH IT, WE ENDED UP HAVING TO PAY FOR THAT.
BUT OTHER FUNDING HAS BEEN ON THE CASH FUNDING AND INCURRED NO DEBT. >> GOES INTO LINE WITH THE STATEMENT EARLIER OF US HAVING THE LEAST AMOUNT OF DEBT THE LEAST AMOUNT OF DEBT THAN THE OTHER THE OTHER LARGE SCHOOL DISTRICTS. YOU ARE YOU ARE YOU ARE >> YOU ARE CORRECT. YOU GET A SHIELDS MIDDLE SCHOOL OR SUMNER WHICH ARE OVERCROWDED. SO IT'S A CHOICE WE MAKE FROM A FINANCIAL
FINANCIAL STANDPOINT FINANCIAL STANDPOINT. >> THANK YOU. >> IT WAS THE 2000s, NOT >> IT WAS THE 2000s, NOT THE '90s, JOHN REMINED REMINDED M E. >> THE CHART DEPICTS THE CASH FLOW IMPACT OF PEGO WHICH IS FLOW IMPACT OF PEGO WHICH IS THE GREEN BAR. A $100 MILLION PROJECT YOU A $100 MILLION PROJECT YOU PAY 100 MILLION TODAY AND THAT WOULD BE THE END OF IT. FINANCING FINANCING OVER
FINANCING OVER 20-YEAR FINANCING OVER 20-YEAR, $6 MILLION A YEAR $6 MILLION A YEAR AMORTIZED. >> WE TALK ABOUT IMPACT FEES BEING A FUNDING SOURCE FOR THAT. IN THEORY, YOU COULD USE IMPACT FEES TO PAY THE DEBT SERVICE OUT OF THERE, BUT AS MR. FORD SAID IT'S ALSO MORE VOLATILE. SO WILL WE HAVE $6 MILLION IN IMPACT FEES 25 YEARS FROM NOW, THE DISTRICT WOULD BE COUNTING ON SOMETHING THEY WOULDN'T NO ETHE ANSWER TO. WE HAVE OTHER WAYS
WE HAVE OTHER WAYS THROUGH MILLAGE TO PAY FOR IT, BUT IF WE'RE AWARING $30 MILLION, $40 MILLION IN IMPACT FEES, PAYING $6 MILLION OR $7 MILLION OUT, IT ALLOWS US TO USE IT FOR OTHER THINGS OR ACQUIRE THE MONEY AND INVEST IT SO WE CAN MAKE MAKE INTEREST. >> WE DON'T HAVE TO FINANCE THE ENTIRETY OF THE PROJECT OR PAYGO THE ENTIRETY OF A PROJECT, WE CAN PUT IN $30 MILLION OF IMPACT FEES AND FINANCE 70 MILLION. THERE'S A WAY TO MAKE IT WORK.
IT'S AN ATTEMPT TO SHOW DISPARATE CASH FLOW IMPACT. THIS LOOKS GOOD. WE'LL DO THE BLUE, THAT WOULD BE MUCH BETTER, AND THAT'S FINE UNTIL YOU DO IT TEN TIMES, THEN YOU'VE DEVELOPED A CAMEL'S HUMP IN THE CASH FLOW AND IT CONSTRAINTS A NUMBER OF OTHER THINGS. IF YOU DO THAT AND A FINANCIAL CRISIS HITS AND THE STATE OF FLORIDA LOWERS THE OUTLAY FLORIDA LOWERS THE OUTLAY FROM 2 M ILS ILS TO 1.5, THAT CAN PUT THE DISTRICT OF FLORIDA IN A REALLY BAD SPOT AND, OF COURSE, THEY'VE
DONE THAT. >> WE HAVE ABOUT TWO OR THREE MORE SLIDES AND OPEN IT UP FOR QUESTIONS FOR THE SECTION. >> THIS IS BREATHE MUCH MY LAST ONE. TWO MORE. DIDN'T PUT ANYTHING IN HERE TODAY TO TALK ABOUT GENERAL OBLIGATION BONDS OR SALES TAX REVENUE BONDS. HAPPY TO TALK ABOUT THOSE IF ANYBODY HAS QUESTIONS, BUT THERE'S A LOT OF INTEREST NOW IN CERTIFICATES OF PARTICIPATION, WHICH ARE LEASE-PURCHASE AGREEMENTS, THEY ARE ALSO THE MOST COMMON SOURCE OF FINANCING FOR FLORIDA SCHOOL DISTRICTS, PAID FROM THE PAID FROM THE LOCAL CAP PAL IMPROVEMENT MILLAGE, BUT LEGALLY
PAYABLE FROM OTHER SOURCES AS WELL. THE SCHOOL BOARD ISSUES THE DEBT IN CONJUNCTION WITH THE HILLSBOROUGH COUNTY LEASING CORPORATION, I CAN'T REMEMBER THE NAME, UNDER WHICH YOU ALL SIT. YOU CONTROL THE ISSUANCE PROCESS. THAT LEASE THAT LEASE -- YOU ENTER INTO THAT LEASE -- YOU ENTER INTO A LEASE-PURCHASE AGREEMENT WITH
YOURSELF TO BUILD THE YOURSELF TO BUILD THE SCHOOL. THERE'S HIGH CREDIT RATINGS THROUGHOUT THE STATE OF FLORIDA. ORANGE SCHOOLS IS THE MOST HIGHLY RATED DISTRICT IN THE STATE OF FLORIDA. EVERY SCHOOL DISTRICT THAT ISSUES COPs AND ISSUES COPs AND HAS ISSUES COPs AND HAS AN INCREMENT IS INTO THE CATEGORY. IT'S BEEN PERFECTED OVER THE COURSE OF 30 YEARS, THE ISSUANCE EXPENSES TEND TO BE LOW AND THE CREDIT SPREADS TO THE MARKET TIPPED TO BE FAIRLY TIPPED TO BE FAIRLY LOW. THE -- IT DOES COUNT AS DEBT IN
TERMS OF YOUR AUDIT. YOUR YOUR AUDITORS ARE GOING TO TREAT THIS AS DEBT. THERE'S REALLY NO DIFFERENCE FROM ANYTHING ELSE. ALL THESE DIFFERENT FORMS OF DEBT BASICALLY MEAN THE SAME THING WHICH IS YOU'RE GOING TO MAKE PAYMENTS EACH YEAR TO FINANCE NEW SCHOOL FACILITIES. PUBLIC-PRIVATE PARTNERSHIPS HAVE COME IN VOGUE IN THE LAST FIVE OR TEN YEARS. P-3s, ARE ALSO FINANCED UNDER A LEASE-PURCHASE STRUCTURE. I THINK IT'S THE SAME STATUTE THAT CERTIFICATES OF PARTICIPATION ARE PARTICIPATION ARE STRUCTURED UNDER.
THE PAYMENTS FROM THAT, IF SOMEBODY DOES A LEASE-BUILD IS THE TERM WE HAVE BEEN USING RECENTLY, IF SOMEBODY DOES A LEASE-BUILD TRANSACTION WITH HILLSBOROUGH SCHOOLS, IT'S THE SAME THING, THE SCHOOL BOARD WILL CONTINUE TO MAKE LEASE PAYMENTS EACH YEAR ON A SCHOOL FACILITY, THE DIFFERENCE IS THE LEASING CORP. WILL HAVE LEASING CORP. WILL HAVE A THIRD PARTY ENTITY CREATED TO MAKE THAT HAPPEN, BUT YOU WILL MAKE THOSE PAYMENTS FROM YOUR LOCAL CAPITAL IMPROVEMENT MILLAGE. THE DEBT WILL BE ISSUED THROUGH A CONDUIT ENTITY, THE THIRD
PARTY NON-PROFIT CREATED CAP NOT ISSUE ITS OWN TAX EXEMPT DEBT UNDER LAW SO THEY WILL GO THROUGH A THROUGH A CONDUIT, THE ONE WE'VE SEEN DONE WENT THROUGH WISCONSIN PUBLIC FINANCE AUTHORITY. THAT CARRIES ITS OWN BAGGAGE. PEOPLE DON'T RECOGNIZE THE PEOPLE DON'T RECOGNIZE THE NAME, DOESN'T CARRY THE MARKET HEFT WITH IT. BECAUSE IT IS SEPARATE AND REMOTE FROM THE DISTRICT'S MASS RELEASE PROGRAM UNDER RELEASE PROGRAM UNDER WHICH RELEASE PROGRAM UNDER WHICH YOU RELEASE YOUR CERTIFICATES OF PARTICIPATION, IT DOESN'T BE
ABLE TO ACHIEVE THE CREDIT RATINGS, AT LEAST THE ONE WE'VE SEEN. HIGHER ISSUANCE FEES AND HIGHER ISSUANCE FEES AND DEBT SERVICE AS A RESULT AND COUNTS AS DEBT FOR AUDITING PURPOSES. I HAVEN'T HEARD THIS CLAIM FOR A WHILE BUT IN THE 20-TEENS, PEOPLE WERE SAYING IT DOESN'T GO ON YOUR BOOKS AS DEBT, BUT IT ON YOUR BOOKS AS DEBT, BUT IT IS DEBT. HAPPY TO ADDRESS DIFFERENCES IN THIS. THIS IS WHERE THE DISTRICT FINANCES AND CONSTRUCTS ITS OWN SCHOOL.
THIS IS WHERE SOMEBODY ELSE FINANCES AND CONSTRUCTS A SCHOOL FOR THE DISTRICT. I CAN ONLY COMMENT ON THE FINANCING ASPECTS OF THIS BECAUSE I DON'T KNOW A LOT ABOUT CONSTRUCTION. AND THEN THIS IS JUST A PICTURE DEPICTING SCHOOL DISTRICTS CERTIFICATE OF PARTICIPATION CREDIT RATINGS FROM CREDIT RATINGS FROM MOODY'S, STANDARD & POOR'S. THESE ARE DISTRICTS SMALLER AND LESS COMPARABLE TO HILLSBOROUGH SCHOOLS. ORANGE COUNTY SCHOOLS WHICH IS
KIND OF RIGHT IN THE MOODLE HAS THE HIGHEST CREDIT RATINGS FROM MOODY'S AT AA2, TIED WITH SARASOTA, AA SARASOTA, AA FROM S&P AND AA FROM FITCH. TIED WITH TIED WITH SEMINAL ON THE FITCH SIDE. HILLSBOROUGH SCHOOLS IS A BIT LOWER. WE ARE RATED A2 BY MOODY'S. WE DO HAVE A POSITIVE OUTLOOK NOW, MEANING DURING OUR NOW, MEANING DURING OUR LAST REVIEW MOODY'S ANALYSTS AND
THEIR COMMITTEE FELT THERE WAS A POSITIVE TRAJECTORY AND BAR AGO CHANGE IN THE CHANGE IN THE TRAJECTORY ANTICIPATED A CHANGE IN UPGRADE IN THE NEXT NINE TO TWELVE MONTHS. S&P, TIED WITH S&P, TIED WITH ST. LUCIE UNDER THEIR CRITERIA, AND RATED A BY FITCH. PEN NELLO SCHOOLS RATED A BY FITCH. OUR RATINGS ARE LOW COMPARED TO A LOT OF OTHER DISTRICTS. WE HAVE TWO POSITIVE OUTLOOKS, HOPING THAT CONTINUES TO GO UP.
THE SINGLE PIGGEST INFLUENCE ON THAT OAF WHICH THE BOARD HAS CONTROL IS THE GENERAL FUND RESERVES, AND ASSIGNED FUND BALANCE. WHETHER THAT'S FLAWED OR NOT, WE CAN HAVE THAT DISCUSSION, BUT UNDER THE RATING UNDER THE RATING AGENCY'S GENERAL CRITERIA THAT'S THE SINGLE BIGGEST FACTOR OVER WHICH WE HAVE CONTROL. THIS IS A SUMMARY OF THE DISTRICT'S OUTSTANDING CERTIFICATE OF PAFORTS PAYS DEBT. I DON'T KNOW HOW MUCH VALUE THERE WOULD BE IN RUNNING THROUGH THIS RIGHT NOW BUT HAPPY TO ANSWER ANY QUESTIONS AS YOU HAVE
HAVE IT. >> Christopher Farkas: WE WANT TO TAKE TO TAKE QUESTIONS ABOUT MANAGEMENT, FINANCING, BEFORE MOVING TO THE NEXT MOVING TO THE NEXT SECTION. A LOT OF THE TOPICS ARE INTERRELATED BUT WANT TO TURN IT OVER TO THE BOARD CHAIR OVER TO THE BOARD CHAIR FOR QUESTIONS. >> Jessica Vaughn: WE HAVE >> Jessica Vaughn: WE HAVE TWO BOARD MEMBERS ONLINE, RENDON AND
PEREZ. I DON'T THINK THEY'RE IN QUEUE TO REQUEST ANY TO REQUEST ANY QUESTIONS. ALSO MEMBER GRAY, DR. HAHN ALSO MEMBER GRAY, DR. HAHN AND MYSELF IN QUEUE. FINALLY, I WANT TO SAY WE HAVE A LOT TO GO THROUGH. I'M GOING TO ASK MY FELLOW BOARD MEMBERS, IF YOU COULD STAY WITHIN THE FIVE MINUTES WITH YOUR QUESTIONS AND COMMENTS SO WE CAN GET THROUGH AND ALWAYS GO BACK IN BECAUSE WE HAVE SO MUCH
TO GO THROUGH. BUT THAT YOU FEEL WITH BE THOUGHTFUL WITH YOUR COMMENTS SO WE CAN ADDRESS ALL THAT. MEMBER MEMBER GRAY. >> Lynn Gray: THANK YOU FOR THE HOUSEKEEPING. WE HAVE A LOT TO WE HAVE A LOT TO COVER. THANK YOU, THANK YOU, MR. FARKAS AND TEAM FOR DOING A GREAT JOB, MR. FORD, MR. WRIGHT. MY QUESTIONS ARE A SUMMATION OF THE BOOK RIGHT NOW BECAUSE I WENT THROUGH IT. IT'S NOT NECESSARILY QUESTIONS, IT'S JUST CLARIFICATION. I WANT TO OPEN UP WITH THE
REVENUE SOURCES. WE TALK ABOUT THE MILLAGE AND, YES, IN 2019, WE APPEALED AND 2020 DID GET UP 2020 DID GET UP FOR THE MILL AN BECAUSE WE ARE ONE OF THE LOWEST DISTRICTS. >> Christopher Farkas: FROM THE IMPACT FEES. >> Lynn Gray: YES. SO NOW WE'RE SO NOW WE'RE AT 265 MILLION FOR THE MILLAGE, THE MILLAGE, RIGHT? >> Christopher Farkas: >> Christopher Farkas: YES. >> Lynn Gray: AND THE HALF-PENNY SALES TAX
HALF-PENNY SALES TAX AVERAGES 13 MILLION PER MONTH. >> Christopher >> Christopher Farkas: 206 MILLION FOR THE YEAR. >> Lynn Gray: SUBTRACTED >> Lynn Gray: SUBTRACTED IN 27 >> Lynn Gray: SUBTRACTED IN 27 27 TO 25%. >> Christopher Farkas: DEBT SERVICE IS PAID OUT OF THE INITIAL CIT. IN THE INITIAL IN THE INITIAL 25%, WE HAVEN'T RECEIVED THAT 25%. WE HAVE A SET DEFERS THAT'S ALMOST $25 MILLION. WE'LL SEE IT GO DOWN BUT NOT AS
DRAMATIC BECAUSE THE DEBT SERVICE IS ALREADY ISSUED WHEN WE GOT HERE. >> Lynn Gray: GOOD NEWS. WE HAVE TO USE THE MONEY WHILE WE HAVE IT. >> Christopher Farkas: YES, MA'AM. >> Lynn Gray: THE POSSIBILITY OF LEASING IF COMPARED TO BUYING OR MULTI-USE, THE LEASE IS THE BEST WAY TO GO FOR REVENUE SOURCES, I THINK. YOU MENTIONED YOU MENTIONED THOSE RECOMMENDATIONS, AND I KNOW THIS IS AHEAD OF IT, BUT IT COMES UP TO 154 MILLION, AND I THINK WE'RE TALKING ABOUT THE RO ZAC
PARKING LOT, PARKING LOT, BREWSTER. >> YES, RO ZAC GARAGE, BREWSTER, JEFFERSON AND THE PARKING LOT BY LEERY. >> Lynn Gray: JEFFERSON IS ABOUT 104 MILLION, BUT THAT'S A POSSIBLE REVENUE SOURCE. >> IN THE NEXT SECTION, WE'LL GET INTO DETAILS ON THAT. SO, ON THE NEXT SO, ON THE NEXT PART -- >> Lynn Gray: AFTER ALL THESE REVENUE SOURCES, DO WE HAVE ANY
NOTION WE'LL GET FEMA AS A POSSIBLE REVENUE POSSIBLE REVENUE SOURCE AT ALL. >> Christopher Farkas: REIMBURSEMENT? >> Lynn Gray: YES. >> Christopher Farkas: MS. JOHNSON BEFORE SHE LEFT FUNDED A LOT OF FEMA REPAIRS OUT OF THE GENERAL FUND AREA. AS WE GET REIMBURSED, THAT WILL GO BACK TO MICHELLE ORTON GO BACK TO MICHELLE ORTON AS THE C.F.O. IT WON'T IMPACT US AS MUCH AS YOUR GENERAL FUND. >> THAT'S CORRECT. IT'S ABOUT A IT'S ABOUT A TWO-TO-THREE-YORE
TIME FRAME FROM FEMA WHERE WE GET THE STUFF AND SUBMIT IT. IT'S A DRAWN-OUT PROCESS. WE'LL TALK ABOUT THIS LATER BUT THE FUFNED HAS TAKEN MOST OF THOSE COSTS ON AND WE HOPE TO GET REIMBURSED. A STORM WE HAD TWO YEARS AGO, WE'RE JUST SEEING THE REIMBURSEMENT CHECKS COME IN. IT'S A IT'S A LENGTHY PROCESS BUT THAT'S MORE OF A REIMBURSEMENT PROCESS. WE'RE JUST WE'RE JUST REIMBURSING OURSELVES FOR COSTS FOR COSTS WE DID INCUR. >> WHAT I'M DOING IS TRYING TO COLLECT THE ENTIRE REVENUE SOURCES, AND THEN ON
SOURCES, AND THEN ON THE FLIP SIDE IS THE SIDE IS THE SUBTRACTIONS. YOU MENTIONED 40 MILLION WILL BE SHARED THIS YEAR, RIGHT, WITH CHARTER SCHOOLS? >> 40 MILLION WHEN WE GET TO THE FULL SHARE. THIS YEAR, WE HAVEN'T THIS YEAR, WE HAVEN'T GOTTEN THAT BILL, BUT $10 MILLION TO $12 MILLION, WILL DOUBLE $12 MILLION, WILL DOUBLE THIS YEAR. FULL VALUATION IN THREE YEARS, WILL BE $40 MILLION. >> Lynn Gray: WE'RE NOT
>> Lynn Gray: WE'RE NOT AT 40 MILLION. >> 20% THIS PAST YEAR, 40% NEXT YEAR AND THEN 60, YEAR AND THEN 60, 80 AND 100. >> Lynn Gray: LESS THAN I THOUGHT. ALSO, WHEN WE TALK ABOUT LOANS AND THOSE TYPE OF INTEREST RATES, DID WE HAVE A SUMMATION OF HOW MUCH MONEY WE HAVE -- WE ARE ACCRUING IN INTEREST RATES? THAT'S A THAT'S A SUBTRACTION.
THAT TEN NOTE, THAT'S A HUGE INTEREST RATE SITUATION. >> WE'RE PAYING OVER >> WE'RE PAYING OVER $90 MILLION IN A IN A YEAR ON THINGS IN A YEAR ON THINGS AROUND THIS TABLE IS NOT A PART OF. I'M NOT SAYING IT'S JUSTIFIABLE. BUT BETWEEN THE MONEY PAYING CIT IN CERTIFICATES OF IN CERTIFICATES OF PARTICIPATION FOR SCHOOLS AROUND THE TAMPA AREA, AND MILLAGE WHICH AREA, AND MILLAGE WHICH IS $60 MILLION TO $65 MILLION, ABOUT $90 MILLION A YEAR
CURRENTLY FOR MORTGAGE AND DEBT SERVICE. >> Lynn Gray: THAT'S A SUBTRACTION AS WELL. >> Christopher Farkas: YES. >> Lynn Gray: WE HAVE BUILDINGS BUILDINGS MINIMALLY USED, WE HAVE HUMAN RESOURCES, NOT TO MENTION THE MENTION THE INFRASTRUCTURE, MENTION THE INFRASTRUCTURE, HVAC AND ALL THE OTHER COSTS, THOSE ARE SUBTRACTIONS, AND I THINK WE NEED TO ENUMERATE THOSE. PERHAPS EIGHT SCHOOL SITES AND OF COURSE THE RECOMMENDATIONS YOU HAVE WHICH ADDED UP YOU HAVE WHICH ADDED UP TO 154 MILLION. SO THOSE ARE SO THOSE ARE DECREASES.
THE OTHER QUESTION -- THE OTHER POINT, WHEN WE TALK ABOUT THE INCREASE OF CONSTRUCTION, THAT'S A HUGE DRAIN BECAUSE IT IS A REAL -- IT'S A REALITY, AND I THINK WE NEED TO HAVE THAT ESTIMATION AS WE GO THROUGH COSTS, AND I KNOW THAT YOU'RE ON TOP OF TOP OF IT, BUT HOLY TOP OF IT, BUT HOLY MACKEREL, WHAT YOU JUST POINTED OUT WAS A HUGE ESCALATING COST. SO JAMIE BACK TO YOU REAL QUICK. WE TALK ABOUT FUND BALANCE. JOB, YOU MENTIONED, YAY, BECAUSE
OF OUR FUND BALANCE OR HIGHER RESERVES WE GOT A BOND LIFT. CORRECT ME IF I'M WRONG BECAUSE I WAS THERE DURING THE TIME WE HAD OUR MEETING DOWN, DOWN, DOWN. WHY IS IT SO IMPORTANT FOR US TO HAVE A HIGH FUND BALANCE? I KNOW WHAT IT'S LIKE TO HAVE 3% OR LOWER AND OR LOWER AND SO OR LOWER AND SO DOES MEMBER HAHN AND PEREZ, FOR THAT MATTER. SO, NOW, WE'RE UP TO 12%, AND THE DEBATE THE DEBATE IS WHY CAN'T WE USE SOME OF THAT FOR CONSTRUCTION? YOUR TAKE.
>> I THINK IT'S A CREATE QUESTION. SOMETHING FROM A PERSONAL STANDPOINT, I THINK IT STANDPOINT, I THINK IT PROVIDES THE DISTRICT TIMING TO MAKE THE BEST DECISION POSSIBLE TO MOVE FORWARD OR TO DEAL WITH UNEXPECTED CHANGES. I THINK OUR HURRICANES ARE A GREAT EXAMPLE. THE GENERAL FUND WAS ABLE TO TAKE ON THAT COST WHEN WE HAD A ROUGH FALL LAST ROUGH FALL LAST YEAR. WE WERE ABLE TO DO THAT AND CONTINUE OPERATIONS AND CONTINUE WHAT THEY HAD TO DO BECAUSE IF NOT THEY WOULD HAVE HAD TO DIVERT FROM THEIR PLAN TO TAKE ON SOME OF THE CHARGES.
WE'RE TRYING TO GET FEMA TO REIMBURSE US BUT THAT'S A PROCESS AND THAT'S NORMAL. A HEALTHY FUND BALANCE HELPS US ADDRESS THINGS WHEN THEY HAPPEN, EMERGENCIES AND THINGS LIKE THAT. IT ALSO ALLOWS US, WHEN THE BUDGET COMES OUT EVERY YEAR, WE'RE ABLE TO SEE THIS YEAR, A LITTLE LATER THAN USUAL, AND WE HAVE THE TIME TO USE THE FUND BALANCE TO AID US IN DECISIONS. SO IT DOESN'T FORCE THE DISTRICT INTO IMMEDIATE SITUATION OF DECISION-MAKING. IT PROVIDES US TIME TO MAKE THE BEST POSSIBLE PLAN MOVING FORWARD THAT PROTECTS OUR SCHOOLS AND HELPS OUR STUDENTS
AND OUR PEOPLE WHICH ARE OUR GREATEST ASSET. IT PROVIDES US TIME AND FLEXIBILITY IN OUR PLANNING PROCESS. >> ESPECIALLY WITH ALL >> ESPECIALLY WITH ALL THE VARIABLES AND SHOCK WE'RE RECEIVING. IF THERE'S ANY CONSENSUS, I AM FOR THE HIGHER FUND BALANCE FOR MANY REASONS. LAST, WE LEFT OFF WITH SUPERINTENDENT DAVIS. WE'RE GOING TO CLOSE THE SCHOOLS AND DO BOUNDARY CHANGES. WE FLAT-OUT STOPPED THAT.
WHERE ARE WE AT WITH THE FUTURE CLOSINGS OF SCHOOLS AND CLOSINGS OF SCHOOLS AND BOUNDARY CHANGES? >> TWO YEARS AGO, THE DECISION WAS MADE IN MAY OF 23 TO MOVE FORWARD WITH OUR BOUNDARY SHIFTS AND IN THAT WERE FIVE SCHOOLS THAT WERE THAT WERE CLOSED/REPURPOSED FOR OTHERS. THERE HAS BEEN NO THERE HAS BEEN NO DISCUSSION MOVING FORWARD I'VE HAD WITH THIS BOARD FOR THE FUTURE. IF WE WANT TO DISCUSS THAT, WE CAN DO THAT. TWO YEARS AGO, WE HAVE BEEN IN IMPLEMENTATION TO HAVE THE BOUNDARY SHIFTS.
I DON'T WANT TO UNDERESTIMATE THE WORK THAT STAFF PUT INTO WHEN YOU HAVE A FULL ATTENDANCE BOUNDARY COUNTY SHIFT IN CLOSING SCHOOLS, THAT WAS A BIG UNDERTAKING OF ENTIRE STAFF, AND I FEEL LIKE STAFF DID AN AMAZING JOB OF WORKING WITH OUR COMMUNITY AND THAT KIND OF HAPPENED SEAMLESSLY. I THINK THAT WAS A BIG UNDERTAKING AND THERE'S NO FUTURE DISCUSSION RIGHT NOW OF VOTERRER CLOSINGS OF VOTERRER CLOSINGS OF SCHOOLS.
>> Lynn Gray: I'M LOOKING AT THE EMERGENCIYS COMING UP AND WHAT WE HAVE TO DO. I'M UP TO MY FIVE MINUTES. I'M GOING TO CLEAR MYSELF FOR THE NEXT ROUND. PUT ME BACK IN THE QUEUE PUT ME BACK IN THE QUEUE AFTER MEMBER COMBS. >> DR. HAHN IS NEXT IN THE QUEUE HAN HAN HAN HAN
QUEUE. >> Stacy Hahn: IT'S >> Stacy Hahn: IT'S UNEASY MAKING BIG, LONG-TERM DECISIONS BECAUSE THINGS CAN CHANGE RAPIDLY WHICH SENDS THE MESSAGE TO ME THAT, YOU TO ME THAT, YOU KNOW, WE HAVE TO BE FLEXIBLE AND, YOU KNOW, LOOKING AT A POTENTIAL PAGE PROJECTS, YOU KNOW, WE HAVE TO BE VERY CLEAR WITH THE PUBLIC THAT ALL OF THIS CAN CHANGE BASED ON THE VARIABLES THAT WE'VE ALL DISCUSSED TODAY. AS THINGS CHANGE, WHETHER IT'S
WITH, YOU KNOW, DIFFERENT FUNDING RESOURCES, THIS LIST MAY CHANGE. AND, SO, I THINK THAT NEEDS TO BE COMMUNICATED BE COMMUNICATED VERY CLEARLY I WOULD IMAGINE FOR SOME OF THESE NEW THESE NEW BUILDS, AND THESE NEW BUILDS, AND MEMBER GRAY BOUGHT UP ONE TO HAVE THE SCHOOLS WE CLOSED, A VERY DIFFICULT DECISION FOR THIS BOARD.
YOU WERE A PART OF THAT. YOU SAT THERE IN THE FRONT ROW AS CABINET AND WATCHED IT HAPPEN, AND NOW I SEE YOU'RE GOING TO REOPEN IT AND INVEST $23 MILLION INTO IT. AND I DON'T KNOW WHAT KIND OF DATA YOU USE TO MAKE THAT DECISION. IT WAS VERY EARLY IN YOUR CAREER AS SUPERINTENDENT, MAYBE THREE MONTHS IN, FOUR MONTHS IN, FOUR MONTHS. YOU KNOW, AND, YOU KNOW, ONE, I WANT TO SEE ALL THAT DATA, AND I WOULD HOPE THAT IT INCLUDES MORE THAN THE NUMBER OF TOTAL
DWELLING UNITS DWELLING UNITS BECAUSE MR. FARKAS CLEARLY SAID THAT USING THAT AS AN INDICATOR AS TO HOW MANY KIDS YOU'RE GOING TO HAVE IN A NEIGHBORHOOD IS VERY UNRELIABLE, WERE YOUR WORDS THIS MORNING. SO, I WANT TO SEE THAT DATA, AND I WANT TO SEE IT BY THE END OF TODAY BECAUSE, AS TODAY BECAUSE, AS A MATTER OF-FACT , SOMEBODY, MAYB , SOMEBODY, MAYBE YOUR CHIEF OF STAFF, SOMEBODY SHOULD BE ABLE TO WALK DOWNSTAIRS AND GET THE DATA AND SHOW IT TO US A THE DATA AND SHOW IT TO US AS THE WORKSHOP BECAUSE THAT DATA
SHOULD BE ALREADY COLLECTED SINCE YOU MADE A $23 MILLION DECISION. AND I WOULD REALLY ASK THE SUPERINTENDENT TO REFRAIN FROM FUTURE PRESS CONFERENCES AROUND THESE PROJECTS UNTIL THEY HAVE BEEN APPROVED BECAUSE IT GIVES THE COMMUNITY NOW A FALSE SENSE OF SECURITY, OF SECURITY, ESPECIALLY AROUND JUST, WHEN YOU MAKE THOSE DECISIONS. SO, YOU KNOW, THAT MAKES ME UNCOMFORTABLE. IT CAN UNDERMINE THE CONFIDENCE WE HAVE IN YOUR LEADERSHIP WHEN
THINGS LIKE THAT HAPPEN BECAUSE IT DOESN'T JUST TAKE ONE THING, THINGS CAN BUILD UP. IT'S JUST, IT'S THIS, THAT, AND THERE'S NOT A LOT OF CONFIDENCE IN DECISION-MAKING. THAT WAS POORLY THAT WAS POORLY EXECUTED. I DON'T WANT TO SEE THAT HAPPEN AGAIN BECAUSE IT PUTS -- IT MAY PUT YOU IN THE SPOTLIGHT AS THE HERO, BUT IT PUTS SEVEN OF YOUR BOSSES NOT SO MUCH AS THE HERO WHEN WE HAVE TO MAKE A VERY DIFFICULT DECISION, WE'RE THE ONES MAKING THAT DECISION WHETHER A YEAR FROM NOW, SIX MONTHS FROM NOW, AND THESE
VARIABLES ARE VARIABLES ARE CHANGING. SO, BE MINDFUL OF THAT WHEN YOU HAVE A LIST HAVE A LIST OF PROJECTS. AS FAR AS THE AS FAR AS THE FINANCING, SO, YOU KNOW, WHAT I'M HEARING IS THERE'S TWO DIFFERENT WAYS WE CAN CAN GO. YOU KNOW, WE CAN GO THE VERY TRADITIONAL WAY AS WHERE WE ARE, THE LEASING AGENT. IT SEEMS AS THOUGH, YOU IT SEEMS AS THOUGH, YOU KNOW, THE INTEREST RATE -- I MEAN, IF ANY OF US HAVE A MORTGAGE OR
ANYTHING THAT WE ARE PAYING INTEREST ON THE CRUCIAL TO THE FINANCIAL HEALTH OF THE ORGANIZATION, JUST AS IT IS TO EVERY ONE OF OUR FAMILIES WHEN WE MAKE THESE TYPES OF DECISIONS, AND THAT WHAT I'M HEARING FROM YOU IS, WHEN WE ARE THE FINANCING AGENT, BECAUSE OF OUR REPUTATION, WHICH GREATLY HAS TO DO WITH THE FUND BALANCE AS AS MEMBER GRAY AS MEMBER GRAY DISCUSSED, WE -- WE MAY GET A VERY GOD GOOD INT EREST
RATE COMPARED TO A THIRD PARTY BEING THE BEING THE FINANCE AGENT AND DOING THE FINANCING WHO HASN'T BEEN AROUND FOR -- HOW MANY YEARS HAVE WE BEEN AROUND IN THIS THIS DISTRICT -- WHO DOESN'T HAVE THE HAVE THE A3 RATING HAVE THE A3 RATING AND HAVE THE A3 RATING AND A + RATING AND AA RATINGS, DOESN'T HAVE THE HIGH RATINGS, THE INTEREST RATE, WE LOSE CONTROL IN THAT. WE LOSE A LOT OF CONTROL IN SCENARIO B. IS THAT
IS THAT CORRECT? >> THAT'S CORRECT. THERE IS THERE IS A TREMENDOUS NAME RECOGNITION FACTOR. PEOPLE KNOW HILLSBOROUGH. IF WE OPEN TAMPA SCHOOLS LLC, WE KNOW IN OUR PERSONAL LIVES, IF DR. HAHN GETS A DR. HAHN GETS A MORTGAGE, THERE'S DIFFERENT THAN TAMPA SCHOOLS LLC. THERE ARE THINGS THAT ARE VERY IMPORTANT FROM A CREDIT RATING
STANDPOINT. THE BOARD EVERY YEAR APPROPRIATES FOR THE DEBT SERVICE ON ALL OUTSTANDING CERTIFICATES OF PARTICIPATION AS A SINGLE UNIT. NO RISK THAT THE BOARD WILL PICK AND CHOOSE BETWEEN INDIVIDUAL PROJECTS AND SAY WE'RE NOT GOING TO PAY THAT ONE ANYMORE, SO THERE ARE THERE ARE PROTECTIONS IN THERE ARE PROTECTIONS IN THERE THERE ARE PROTECTIONS IN THERE. >> THE LAST THING I'LL SAY IS AROUND THE RENEWAL OF THE AROUND THE RENEWAL OF THE PENNY. THE IMPORTANCE OF COMMUNICATING
THAT NOT JUST TO THE COMMUNITY BUT OTHER ELECTED OFFICIALS WITHIN OUR COMMUNITY AND THE COMMUNITY BECAUSE COMMUNITY BECAUSE THEY DON'T UNDERSTAND THE UNDERSTAND THE CHANGES AT THE STATE LEVEL IN CAPITAL STATE LEVEL IN CAPITAL FUNDING FOR PUBLIC SCHOOL DISTRICTS. THEY NEED TO SEE THE BIG PICTURE LIKE YOU DID WITH US TODAY WITH THE CIT, YOU KNOW, THE THE CIT, YOU KNOW, THE MILLAGE, AND HOW ALL THAT HAS CHANGED IN THE LAST YEAR AND THE IMPACT OF
THAT MOVING FORWARD FOR CHILDREN ACROSS THIS ENTIRE COUNTY, WHETHER IT'S BUILDING NEW SCHOOLS OR MAINTAINING AND REFRESHING SCHOOLS. YOU KNOW, WHEN I WAS FIRST ELECTED TO THE BOARD, WE WERE JUST KIND OF COMING OUT OF THE APPROVAL OF THAT SALES TAX AND HOW MANY SCHOOLS WERE SITTING WITH NO AIR CONDITIONING AND BUILDINGS THAT, YOU KNOW, NO CHILD SHOULD BE EXPECTED TO SIT IN ALL DAY. SO, YOU KNOW, I THINK THERE'S
GOT TO BE A LITTLE MEMORY RECALL AS WELL AS JUST, YOU KNOW, THE IMPACT. AND THAT'S THE REALLY NICE THING ABOUT THIS PARTICULAR TAX IS THAT THE EVIDENCE IS THAT THE EVIDENCE IS TANGIBLE. SO, YOU KNOW, I HOPE YOU CAN SET UP MEETINGS THROUGH OUR GOVERNMENT AFFAIRS OFFICE WITH EVERY EVERY LOCAL ELECTED OFFICIAL AS WELL WELL AS WELL AS OUR DELEGATES IN
TALLAHASSEE. >> I APPRECIATE YOU BRINGING IT UP. WE THREE IT THREE-PRONGED. THE FIRST HALF-PENNY. YOU ENTRUSTED THE MONEY TO US. WE HAVE WE HAVE CITIZENS OVERSIGHT COMMITTEE TO OVERSEE THE SPENDING. YOU TOLD US WHAT TO DO. WE DID IT. WE KNOW WHERE EVERY PENNY IS AND WE HAVE PICTURES. THE NEXT THIRD IS AN EXPLANATION OF WHAT IS THE CAPITAL DOLLAR, WHAT COULD THIS MONEY GO TO AND WHY IS IT DIFFERENT THAN OTHER FUNDS. THE NEXT THIRD IS WHAT ARE YOU DOING OVER THE NEXT TEN YEARS?
AND SO WE ARE READY FOR THAT. WE ARE BACKWARD PLAYING TO WHEN IT'S DUE TO THE SUPERVISOR OF ELECTIONS TO GIVE US TIME TO GET IT TO THE COUNTY ELECTIONS OFFICE AND GET IT TO THE BOARD TO GET IT APPROVED BECAUSE YOU ARE THE ONES WHO WOULD APPROVE THAT. WE ARE WORKING HARD, FEET WE ARE WORKING HARD, FEET ARE MOVING UNDER THE WATER AS WE STAY STILL BECAUSE A LOT OF WORK GOES INTO IT. A LOT OF WORK LAST TIME. WE ARE ACTIVELY DOING THAT AND LOOKING FORWARD TO BRINGING A PLAN TO THE BOARD IN THE NEAR FUTURE. >> I'LL GO BACK TO STARTING THIS CONVERSATION. WHEN YOU START TO UNRAVEL THE
VERY DIFFICULT FINANCIAL DECISIONS THIS BOARD MADE AND IT'S THE SAME IT'S THE SAME EXACT, BOARD MEMBERS, WITHOUT A ROT LOT OF CLEAR DATA AND RATIONALE IT UNDERLINES STRESS IN THE COMMUNITY WHEN YOU'RE MAKING DECISIONS FOR TENS OF MILLIONS OF DOLLARS SO BE VERY OF DOLLARS SO BE VERY CAREFUL. THANK YOU. >> Jessica Vaughn: MEMBER COMBS. >> Nadia Combs: I WANT TO THANK ALL OF YOU FOR COMING AND PRESENTING THIS.
THIS IS A LOT OF WORK PUT INTO THIS AND WE HAVE TO CONTINUE LOOKING THIS. I REQUESTED THIS WORKSHOP AND A SIMILAR WORKSHOP LAST YEAR. SO ONE OF THE THINGS, AND I THINK IT'S BECAUSE THERE'S SO MUCH HAPPENING IN OUR DISTRICT, YOU KNOW, BESIDES OUR NUMBER ONE IS TO KEEP STUDENTS SAFE, EDUCATE THEM, EDUCATE THEM, AND THEN MEANWHILE WE HAVE THIS HUGE GROWTH IN SOUTH COUNTY AND THEN IN THE URBAN CORE WE HAVE A DECREASE IN ENROLLMENT. IF YOU LOOK AT THE IF YOU LOOK AT THE SUBURBS, YOU'RE MS HAVING GROWTH RATES GOING DOWN WHERE GOING DOWN WHERE YOU'RE KIND OF
HAVING A STAG NAT OR DECREASE IN SOME OF THE SCHOOLS SOL IT'S VERY COMPLEX. I'M GOING TO ASK FOR, I KNOW WE TALKED ABOUT HAVING A MEETING IN DECEMBER, I WANT TO HAVE A SET WORKSHOP BECAUSE I THINK OFTEN WE TALK ABOUT DOING THINGS AND THEN WE DON'T FOLLOW UP. I KNOW I SAW DECEMBER 16 AS AN AVAILABLE DATE RIGHT NOW BUT MAKING SURE THAT WE PUT A WORKSHOP. ALSO, ONE OF THINGS I WANT TO REQUEST IS A QUARTERLY UPDATE. I WANT OBVIOUSLY ON THE SUSPENDED AGENDA, BUT I WANT, LIKE, A QUARTERLY VERY ACTIVE UPDATE ON WHAT'S GOING ON HERE
FROM AS FAR AS FROM AS FAR AS GROWTH, AS FAR AS ALSO WHAT WE'RE LOOKING AT, MAYBE IF WE HAVE TO -- WHAT THE SCHOOLS LOOK LIKE THAT WE'VE CLOSED, WHAT IT LOOKS LIKE FOR SCHOOLS STILL WITH LOW ENROLLMENT. I THINK WE REALLY NEED TO KEEP -- YOU KNOW, MEETING ONCE A YEAR OR DISCUSSING THIS ONCE A YEAR IS NOT GOING TO MOVE THINGS AHEAD. SO I THINK MAKING SURE THAT YOU GIVE US A QUARTERLY OR I WILL TALK TO THE OFFICE ASSISTANT TO SAY THIS IS THE MEETING AND EVERY QUARTER DURING YOUR CLOSING, YOU KNOW CLOSING COMMENTS, YOU GIVE US REALLY SUBSTANTIAL, YOU KNOW, FTION IN
ON WHERE WE ARE, WHAT WE'RE DOING, WHAT THE ENROLLMENT LOOKS LIKE, WHAT THE PLANS ARE. BECAUSE THIS IS ONE OF THE MOST IMPORTANT JOBS THAT WE HAVE, IS MAKING SURE FISCAL RESPONSIBILITY. WHEN YOU SEE FUNDING DECREASED EVERYWHERE AND PRICES INCREASING EVERYWHERE, EVERY PENNY AND EVERY DOLLAR IS GOING TO COUNT. I AGREE. THIS IS VERY THIS IS VERY FLUID, INCLUDING POTENTIAL MAJOR PROJECTS AS WELL AS CASH, DEBT FUNDING, ALL OF THAT IS GOING TO BE VERY FLUID DEPENDING ON
DEPENDING ON WHERE WE ARE DEPENDING ON WHERE WE ARE AT THE TIME. I DON'T KNOW WHO SAID, I THINK PROBABLY ONE OF THE MOST IMPORTANT THINGS IS TO REALLY ENFORCEMENTOUT COUNTY BECAUSE THAT'S WHERE THE GROWTH IS AND THAT'S WHERE SOMETIMES YOU HAVE VOTERS WHO ARE MAYBE GOING TO NOT WANT TO SUPPORT TAXES OR NOT GOING TO WANT TO SUPPORT CERTAIN IMPACT FEES. SOUTH COUNTY NODES TO KNOW THAT'S WHERE THE THAT'S WHERE THE BIGGEST ISSUE LIES WHERE THOSE LIES WHERE THOSE NEEDS ARE. AS HOMES ARE BUILT, IF SCHOOLS AREN'T BEING BUILT THERE, PEOPLE NEED TO NEED TO BE INFORMED, YOU HAVE
HOMES BEING BUILT, BUT WHERE ARE YOUR STUDENTS GOING TO GO TO SCHOOL? IT'S REALLY IMPORTANT, IF SOMEONE BUYS A HOME, THEY DON'T THINK ABOUT BUYING A HOME AND NOT REALIZING THEY THEY ARE NOT GOING TO HAVE A SCHOOL FOR TEN YEARS BEING BUILT THERE. THAT NEEDS TO BE A MARKETING CAMPAIGN TO INFORM SOUTH COUNTY PEOPLE. IF WE WANT VOTERS TO SUPPORT EDUCATION, THEY NEED TO KNOW WHAT'S HAPPENING AS FAR AS BUILDING AND WHAT'S HAPPENING IN OUR COMMUNITY BECAUSE THERE'S NO AMOUNT OF CHARTER SCHOOLS OR PRIVATE SCHOOLS THAT ARE GOING TO BE ABLE TO MEET THE NEEDS OF THE SOUTH COUNTY EXPANSION.
IF YOU LOOK AT WE CAN ONLY BUILD FIVE SCHOOLS AND THERE ARE 13 NEEDS, PEOPLE NEED TO NEEDS, PEOPLE NEED TO KNOW WHERE THEY WILL SEND THEIR CHILDREN. IT HAPPENED TO PEOPLE IT HAPPENED TO PEOPLE IN APOLLO BEACH WHERE PEOPLE ARE DESPERATE BECAUSE THERE'S NO PLACE TO SEND THEIR THEIR KIDS. IT'S IMPORTANT AS A MARKETING STANDPOINT AND THEN THE QUARTERLY UPDATES. AS FAR AS THE FUNDING AND HOW THE CASH THE CASH FLOWS -- AND I HAVE THE CASH FLOWS -- AND I HAVE A QUESTION. YOU KNOW, WE WANT TO KEEP OUR
GENERAL FUND AND MAKE GENERAL FUND AND MAKE SURE OUR BALANCE IS HIGH, WE TALKED ABOUT POLICIENED POLICIENED A -- POLICY AND MOVED ON POLICY. DOES IT MATTER WHAT'S IN YOUR FUND BALANCE AT THE END OF THE DAY? >> AT THE RISK OF SPEAKING FOR THE RATING AGENCIES WHO I NEFF WORKED FOR, I THINK POLICY MATTERS AS IT SHOWS THE BOARD'S INTENT TO MAINTAIN A SPECIFIC FUND BALANCE. TODAY, WE ARE NORTH OF THE
PROPOSED POLICY, CITIZEN PROPOSED POLICY, CITIZEN PROPOSED POLICY, CITIZEN AS I UNDERSTAND IT, FROM A FEW WEEKS IT, FROM A FEW WEEKS AGO. SO IT MATTERS. DISTRICTS IN FLORIDA SEEM TO HAVE LOWER RESERVE THAN THEIR NATIONWIDE COUNTERPARTS, A LOT BECAUSE WE HAVE HUGE SCHOOL DISTRICTS IN FLORIDA COMPARED TO THE AVERAGE NATIONWIDE. IF YOU GO TO MISSOURI, MASSACHUSETTS, MICHIGAN, ALL THE M STATES, I DON'T KNOW WHY I SAID THAT, YOU'RE SAID THAT, YOU'RE GOING TO SAID THAT, YOU'RE GOING TO FIND MUCH SMALLER
MUCH SMALLER DISTRICTS. FLORIDA, WE'RE ALMOST THE SIZE OF RHODE ISLAND IN THIS COUNTY. IT'S DIFFERENT. WE CAN ENJOY SLIGHTLY LOWER FUND BALANCES AND RESERVE BECAUSE AN EMERGENCY WON'T HIT OUR ENTIRE DISTRICT AT ONCE, GENERALLY SPEAKING. >> Nadia Combs: AS YOUR FAMILIES, AS YOU BUILD THOSE HOMES THAT YOU MAY NOT HAVE THE CAPACITY, THERE NEEDS TO BE SOMETHING TO REALLY INFORM THOSE
INDIVIDUALS OF THAT BECAUSE YOU'RE HAVING PEOPLE GOING IN THERE, TRYING TO MAKE MILLIONS OR BILLIONS OF DOLLARS, REALTORS, BUT THEY'RE REALLY NOT LOOKING AT THE INFECTIOUS DISEASE AND WHAT THAT LOOKS LIKE. I THINK THAT TYPE OF MARKETING IS REALLY IS REALLY IMPORTANT. THANK YOU. >> Jessica Vaughn: THANK YOU, MEMBER COMBS. MEMBER RENDON IS ON THE LINE. >> Patti Rendon: THANK YOU, CHAIR. CAN I ASK FOR CLARIFICATION ON HOW TO SECTION THE WORKSHOP HOW TO SECTION THE WORKSHOP OUT?
>> Jessica Vaughn: THAT WAS WHAT I WAS GOING TO ASK ABOUT GOING FORWARD. WE'RE NOT GOING TO HAVE TIME TO COREVERYTHING ON THIS. AFTER WE TALK ABOUT THIS, WE'LL HAVE TO REVISIT WHETHER OR NOT, AS MEMBER COMBS ANSWERED, WE'LL HAVE TO SCHEDULE A SECOND PART OF THIS. >> Patti Rendon: I'M NOT SURE IF MY QUESTION IS GOING TO BE ANTICIPATED BECAUSE KNITS BETWEEN SECTIONS, BUT ONE OF THE THINGS I WOULD LIKE, IF POSSIBLE, WE COULD SEE MOVING FORWARD WAS THIS -- WITH THIS WORKSHOP MOVING FORWARD IS WE HAVE A NUMBER OF INDIVIDUALS
WHEN IT COMES TO OUR FISH NUMBERS, BUT WE HAVE NO IDENTIFICATION ON EXACTLY WHAT THE STUDENT COST IS IN EACH OF OUR SCHOOLS. SO, IF WE'VE GOT A SCHOOL WHERE WE'VE WE'VE GOT 50% CAPACITY AND IT'S A MAGNET, HOW MUCH IS IT A MAGNET, HOW MUCH IS IT COSTING OUR SCHOOL DISTRICT PER STUDENT BECAUSE THAT IS RELEVANT AS WE PLAN. IF WE COULD HAVE THAT MOVING FORWARD, I THINK IT WOULD BE HELPFUL FOR US TO UNDERSTAND OUR COST FACTOR GOING OUT AS WE LOOK AT REVENUE AS
AT REVENUE AS WELL. >> MS. RENDON, WOULD YOU LIKE TO DO THAT AS A SAMPLE, DO AN ELEMENTARY OR MIDDLE OR HIGH SCHOOL OR HOW WOULD YOU LIKE THAT BROKEN OUT FOR COST? BECAUSE OBVIOUSLY WE CAN DO A COST DISTRICT-WIDE BUT YOU'RE LOOKING FOR WHAT'S THE COST COMPARISON OF A SCHOOL AT 40% VERSUS A SCHOOL AT 100%. IS THAT WHAT YOU'RE ASKING? >> Patti Rendon: MORE THEN THAT. WE COULD HAVE A SCHOOL AT 130% OR A SCHOOL AT 50% BUT THE 50% COULD BE
COULD BE A MAGNET AND THAT COULD BE DIFFERENT THAN A BE DIFFERENT THAN A NON-MAGNET. WE NEED TO KNOW INDIVIDUALLY BY SCHOOL WHAT THE INDIVIDUAL COST IS BECAUSE WHEN WE LOOK AT ALL OUR COSTS GOING OUT THE DOOR FOR EACH OF THE SCHOOLS WE HAVE TO MAKE THAT RELEVANT. MAYBE THE MAGNET PIECE OF THE SCHOOL IS A GREATER COST THAN WHAT THE RETURN IS. I DON'T KNOW THAT WITHOUT LOOKING AT ANY NUMBERS. >> OKAY, MR. LEWIS AND I CAN LOOK AT THAT AND GET LOOK AT THAT AND GET THAT FOR YOU. >> Patti Rendon: I UNDERSTAND AND APPRECIATE THAT VERY MUCH.
THE OTHER THING IS I WOULD LIKE TO SEE SOMEHOW WE ARE BEGINNING DISCUSSIONS WITH DISCUSSIONS WITH THE DISCUSSIONS WITH THE COUNTY. STATE LEGISLATURE REQUIRES THE COUNTY TO HAVE A FORMULA TO CREATE THE STUDENT PROJECTIONS, TO CREATE THAT PROJECTION FOR ALL OUR IMPACT ALL OUR IMPACT FEES, ET CETERA. HOWEVER, IT DOESN'T TELL THEM WHAT THEY NEED TO USE AND, AS WE'VE SEEN IN THE LAST FIVE YEARS, AT LEAST, THOSE PROJECTED NUMBERS DON'T SEEM TO BE MATCHING UP WITH EXACTLY THE STUDENT STATIONS WE'RE ACTUALLY GETTING.
WE'RE TENDING IN THE SOUTH COUNTY AREA TO GET MORE STUDENT STATION THAN THEY PREDICTED. YET, IN OTHER AREAS, IT'S LESS BECAUSE THEY ARE PREDICTING THEM IN DOWNTOWN AREAS WHERE WE DON'T HAVE ANY STUDENTS COMING OUT OF THE CONDOS. SO HAVING THAT IN A BETTER SCENARIO AND HAVING THOSE DISCUSSIONS MOVING FORWARD, WE NEED TO SEE SOME DISCUSSIONS WITH THE COUNTY TO HAVE MORE ACCURACY FOR ACCURACY FOR AREAS. I THINK THAT'S MUCH MORE HELPFUL. >> AND YOU'RE EXACTLY RIGHT. THE LONG-RANGE PLANNING STUDY HERE NEXT MONTH WILL BE A GREAT
CATALYST FOR THAT. THEY WILL TALK ABOUT THE GENERATION RATES BY AREA. WE CAN WORK WITH THE SUPERINTENDENT TO MEET WITH COUNTY OFFICIALS AND MS. DAVIS TO HAVE THAT CONVERSATION. IT'S AN INTERLOCAL BUT PROBABLY ONE ON ONE WITH THE COUNTY COMMISSIONERS WOULD BE A GOOD IDEA TO EXPLAIN WHAT THAT LOOKS LIKE AND THEY CAN EXPLAIN WHAT GENERATION RATES LOOK LIKE. >> Patti Rendon: THANK YOU VERY MUCH. MR. FORDSHED MR. FORDSHED FORD, COULD YOU GIVE ME MORE
INFORMATION, I KNOW POLK COUNTY IS USING A LOT OF WHAT WE WOULD CONSIDER THIRD PARTY LEES IN DOING LEASED SCHOOLS, THEY'VE DONE QUITE A FEW OF THEM. I SEE WITH THEIR MOODY BOND, IT'S A IT'S A AA3, I BELIEVE, YET THEY DON'T HAVE A RATING FOR THE S&P OR THE FINCH, BUT WE DO WITH OR THE FINCH, BUT WE DO WITH ALL THREE. IS THERE AN EXPLANATION ON WHY THAT IS? >> SURE. I THINK TWO QUESTIONS, IF I UNDERSTAND IT. THE FIRST IS WHY DO WE HAVE THREE CREDIT RATINGS AND THEY
HAVE JUST ONE, AND THEN THE SECOND QUESTION IS MAYBE WHY ARE THEY DOING THE THEY DOING THE BUILD-LEASE, LEASE-BUILD PROJECTS. IS THAT RIGHT IN. >> Patti Rendon: YEAH, BECAUSE WHEN I LOOKED AT YOUR NOTES, THAT WAS SAYING WE HAVE A POSSIBILITY OF HAVING A LOWER CREDIT RATING WHEN SOMEBODY ELSE IS CARRYING THAT LEASE, SO I WANTED TO MAKE SURE I UNDERSTOOD IT CORRECTLY SINCE THEY HAVE A HIGHER BOND WHICH IS HOW THEY ARE PAYING FOR THE MINORITY OF THEIR BUILDS. >> YEAH, THAT'S ABSOLUTELY THE CASE. AS FAR AS WHY WE CARRY THREE
CREDIT RATINGS FOR CREDIT RATINGS FOR SCHOOLS, DETERMINED ADVANTAGEOUS TO USE THREE CREDIT THREE CREDIT RATINGS AT THE TIME THEY ISSUED THE THEY ISSUED THE DEBT. THE MARKET WAIVERS AND FROM TIME TO TIME WE WILL USE FEWER CREDIT RATINGS. I THINK WE MAY HAVE ACTUALLY -- I DON'T WANT TO MISSPEAK, BUT I THINK IT'S POSSIBLE ON YOUR LAST ISSUE WE ONLY USED TWO OF THE THREE THAT WE CARRY ON OUR BROADER DEBT BROADER DEBT ISSUES. THERE ARE THERE ARE OCCASIONS, THOUGH FEW AND FATHER
AND FATHER BETWEEN, WHERE WE'LL USE A SINGLE CREDIT RATING BUT THE INSTITUTIONAL INVESTORS DON'T TEND TO LIKE THAT SO WE ANALYZE IT ON A TRANSACTION BY TRANSACTION BASIS. TO THIS POINT, WE HAVE ISSUED DEBT WITH ALL THREE CREDIT RATING AGENCIES AND THEY ALL CONTINUE TO RATE THE OUTSTANDING DEBT SO THAT'S WHY HILLSBOROUGH HAS THREE. POLK COUNTY SKILLS IS POLK COUNTY SKILLS IS AA3 BY MOODY'S. AND I THOUGHT THEY CARRIED ANOTHER.
I'M NOT THEIR FINANCIAL ADVISOR, BUT THE ONLY TRANSACTION I'M AWARE OF THAT POLK COUNTY SCHOOLS HAS DONE IS A LEASE-BUILD BY LEASE-BUILD BY ISSUING DEBT, THE BONDS WERE ISSUED BY A DIFFERENT ENTITY THROUGH A CONDUIT BORROWER, AND THOSE BONDS WERE RATED A2. THEY WERE TWO FULL CREDIT RATINGS BELOW THAT OF THE SCHOOL DISTRICT, AND THAT DISTRICT, AND THAT DIFFERENTIAL WAS SIMPLY BECAUSE OF THE DIFFERENCES IN STRUCTURE AND, YOU KNOW, POTENTIALLY OTHER FACTORS THAT THE RATING AGENCIES WERE AWARE OF THAT I'M NOT.
BUT THE BUT THE LEASE-BUILD WERE NOT RATED WITH THE POLK COUNTY SCHOOLS CERTIFICATES OF PARTICIPATION. >> Patti Rendon: THANK YOU VERY MUCH. I WANT TO THANK ANY FELLOW BOARD MEMBERS. THING THERE ARE A LOT OF GREAT DISCUSSIONS. I AGREE I AGREE WITH MEMBER COMBS WHERE I THINK WE DO NEED TO HAVE A MORE SEMIANNUAL UPDATE ON A PUBLIC SETTING WHERE WE CAN HAVE THESE DISCUSSIONS BECAUSE IT'S VERY IMPORTANT TO RECOGNIZE WHERE WE HAVE BEEN. I ALSO WANT TO MAKE SURE WE'RE
WELL AWARE THAT IN 2012 OUR MILLAGE WAS MILLAGE WAS AT 7.9 AND IS REDUCED TO 5.4. WE ADD ON WITH THE TEACHERS FOR THE BENEFIT OF OUR TEACHERS BUT WE ARE STILL AT 6.4. SO WE ARE QUITE LOWER THAN SO WE ARE QUITE LOWER THAN IN 2012. HOWEVER, IT DOES DEFINITELY IMPACT FOR SURE WHAT IMPACT FOR SURE WHAT WE IMPACT FOR SURE WHAT WE NEED. ARE WE
ARE WE GOOD? >> WE'RE GOOD. SO SORRY. >> Patti Rendon: SO SORRY. I WOULD LIKE TO COMMENT AND PIGGY BACK ON PIGGY BACK ON DR. HAHN. OVER THE WEEKEND, I WAS MADE AWARE OF A Facebook POST THAT SAID WE'LL BE EXPANDING CHAMBERLAIN HIGH SCHOOL AND DOING A COMPLETE REBUILD ON CREATING A TECH CENTER. I DON'T SEE THAT ANYWHERE IN THIS DOCUMENTATION. I WOULD AGREE WITH DR. HAHN BEFORE WE GO PUBLIC WITH ANY KIND OF INFORMATION THAT NEEDS TO BE BOARD APPROVED, MAKE SURE
WE GET BOARD WE GET BOARD APPROVAL WHEN WE ARE SPENDING MILLIONS OF DOLLARS WITHOUT BOARD APPROVAL, QUITE VALUABLE TO BE TAKEN AWAY FROM THIS, IT IS THE BOARD'S RESPONSIBILITY TO MAKE SURE WE HAVE APPROVAL OF ANY OF OUR COSTS GOING OUT THE DOOR AND MAKING SURE WE HAVE ACCURATE DATA INFORMATION BEFORE THOSE DECISIONS ARE MADE. AND, SO, I WOULD APPRECIATE HAVING THAT INFORMATION PRIOR TO HEARING IT OUT OF SOCIAL MEDIA. I THINK THAT'S QUITE IMPORTANT, THAT THE DECISIONS OF THIS DISTRICT NEED TO COME BEFORE THE
BOARD AS LEGALLY AND BOUND BY A STATE CONSTITUTION AS FAR AS OUR RESPONSIBILITIES. SO I WOULD AGREE AND APPRECIATE THAT AS WELL. AND TO THE STAFF THAT PUT ALL OF THIS TOGETHER, IT IS A MOUNTAINOUS AMOUNT OF WORK. I DO APPRECIATE IT BECAUSE IT'S A LOT FOR US TO COMPREHEND AND GO OVER BUT IT WAS A LOT FOR YOU TO PUT TOGETHER. SO THANK YOU VERY MUCH. >> THANK YOU, MEMBER RENDON PT I WANT TO REITERATE WHAT I'M
HEARING AND AGREE WITH AS WELL. I KNOW IT'S IMPORTANT AND WE HAVE BEEN LOOKING AT THIS WORKSHOP BECAUSE YOU WANT INPUT AND DIRECTION, BUT QUITE HONESTLIY, WITH THE AMOUNT OF FTION IN THAT WE HAVE IN FRONT OF US AND THE TIME OF US AND THE TIME CONSTRAINTS, I MEAN, WE'RE WELL PAST WHEN WE'RE SUPPOSED TO START OUR SECOND ONE AND WE HAVE MULTIPLE MEMBERS BACK IN QUEUE. I THINK WE NEED TO BREAK THIS WORKSHOP UP. I THINK THAT, IF YOU BRING IT FORWARD, FROM WHAT I UNDERSTAND, IT DOESN'T NEED TO BE A BOARD MEMBER REQUEST, AND IF WE HAVE SEPTEMBER 16 OPEN, I THINK THAT'S REALLY THE TIME TO GO THROUGH THE SECOND HALF OF THIS
WHERE WE'RE LOOKING AT EACH PROPERTY INDIVIDUALLY AND TALKING ABOUT RENTAL AND REVENUE. I'M NOT IN ANY WAY PREPARED OTHER THAN WHAT WE'VE ALREADY DISCUSSED, AND I'VE MET WITH BOARD AND ASSOCIATES WITH TO DISCUSS THE BULK OF THIS, AND I TOLD YOU THAT IN THE TOLD YOU THAT IN THE ORIGINAL MEETING THAT WE HAVE. WE'LL DO AS MUCH AS WE CAN BUT I'M NOT REID TO I'M NOT REID TO I'M NOT REID TO I'M NOT REID TO NOT READY TO TALK ABOUT WHAT YOU'VE DISCUSSED. THIS NEEDS TO BE MULTIPLE WORKSHOPS.
I'M FRUSTRATED WITH HOW MUCH INFORMATION WE'VE GIVEN IN SUCH A SHORT AMOUNT OF TIME. I DON'T WANT TO BELABOR THAT POINT ANYMORE. I THINK WE'VE AGREED ON I THINK WE'VE AGREED ON THAT. NUMBER ONE, I KNOW WE'RE TALKING A HUGE AMOUNT BY THE DEVELOPMENT IN SOUTH COUNTY, BUT I HAVE CONSTITUENTS CONTACTING ME AND TALKING ABOUT NORTH HILLSBOROUGH AND THERE'S A LOT OF REDEVELOPMENT GOING ON. THE KEYSTONE SITUATION IS CONSISTENTLY UNDERSTANDING ABOUT THAT. THEY WANT TO UNDERSTAND OUR CAPACITY IN THAT AREA WHEN WE'RE TALKING ABOUT FISH REPORT,
MCKITRICK, MARTINEZ, STEINBRENNER, ALREADY AT CAPACITY. IF WE'RE HAVING A LOT OF DEVELOPMENT IN KEYSTONE, WE HAVEN'T AT ALL MENTIONED TALKING ABOUT EXPANSION THERE OR WHAT THAT LOOKS LIKE. LUTZ IS ALSO CONCERNED ABOUT THAT. THEY ARE CONSTANTLY CONCERNED ABOUT DEVELOPMENT, THOSE AREAS ARE PRIME FOR DEVELOPMENT WE'VE NOT EVEN TALKED ABOUT AS A SCHOOL BOARD AND THOSE COMMUNITIES REACHED OUT TO BOARD MEMBERS TO MEMBERS TO SEE OUR INTENTION AND TO MAKE SURE THEY'RE INCLUDEMADE THE CONVERSATION AS WE HAVE THIS.
SO I WANT THAT ON THE RADAR. WE'RE TALKING ABOUT HOW THE COUNTY COMMISSION IS EXTENDING THE SERVICE AREA BY PROVIDING UTILITIES TO DIFFERENT AREAS AND THAT'S WHERE WE EXPECT FURTHER GROWTH, MY QUESTION HAS ALWAYS BEEN, SURE, WE'RE TALKING ABOUT THE UTILITIES THAT'S IMPORTANT BUT WHERE'S THE CONVERSATION AROUND ADDITIONAL INFRASTRUCTURE, WHEN WE'RE TALK AND ROAD CAPACITY. WE'RE IN SUCH A NIGHTMARE WHEN IT COMES TO ROAD CAPACITIES WHEN WE'RE TALKING ABOUT DISTRICT SCHOOLS. WHEN WE'RE TALKING ABOUT SIDEWALK MAINTENANCE, TALKING ABOUT TRANSPORTATION AND WHAT
THAT LOOKS LIKE AS INCREASED EXPENSES, YOU KNOW. SO I REALLY WANT TO UPS AND HAVE AN UNDERSTANDING OF WHEN THEY EXPAND THAT SERVICE AREA WHAT INFRASTRUCTURE GOES ALONG WITH THAT BECAUSE I HAVE A LOT OF CONCERNS FROM CONSTITUENTS ABOUT RECKLESS EXPANSION WITHOUT INFRASTRUCTURE OTHER THAN UTILITIES. I THINK IT'S IMPORTANT WE TALK ABOUT IMPACT FEES. I THINK CONTINUING HAVING A CONVERSATION AND BEING CLEAR ABOUT THAT IS GREAT. I KNOW MEMBER GRAY WORKED CLOSELY WITH COUNTY COMMISSION TO HAVE THAT RAISED PREVIOUSLY. WE HAVE
WE HAVE A DIFFERENT BOARD SO I THINK THAT KIND OF HEAVY LIFT, IT WOULD BE A DIFFERENT LIFT AT THIS POINT, WHEN WE'RE TALKING ABOUT TRYING TO WORK WITH COUNTY COMMISSION AND SEEING THE VALUE AND AND RAISING IMPACT FEES. I WANT TO CLARIFY. RAISING IMPACT FEES HAS NO STRAIN ON COUNTY COMMISSION. THAT'S SLOWLY ON THE BURDEN OF THE DEVELOPERS TO MAKE SURE THEY ARE GIVING US TO DEVELOP ARE GIVING US TO DEVELOP THE EDUCATIONAL INFRASTRUCTURE WE NEED. CORRECT? >> CORRECT. USUAL WILL AT THIS DEVELOPER PASSES IT ON TO THE HOME OR THE BUYER OR BUILDER. >> Jessica Vaughn: WHEN WE'RE
ASKING FOR IMPACT FEES TO BE RAISED, WE'RE NOT ASKING FOR ANY FINANCIAL BURDEN FROM COUNTY COMMISSION, WE'RE JUST ASKING TORE ACCOUNTABILITY FOR THE CORRECT FINANCIAL FUNDING FROM THE DEVELOPERS. >> THAT'S CORRECT. >> Jessica Vaughn: I WANTED TO CLARIFY THAT. I APPRECIATE THAT. ALSO, WE PREVIOUSLY MENTIONED -- FIRST OF ALL, THANK YOU, FORD AND ASSOCIATES, FOR MEETING WITH ME AND GIVING ME A LOT OF TIME TO HAVE THESE QUESTIONS ALREADY ANSWERED. I APPRECIATE THAT WAS AN INVALUABLE MEETING. WE BRIEFLY TALKED ABOUT THE MILL AN AND HOW THAT WAS AN AND HOW THAT WAS REDUCED IN 2008 AND HOW IT CONTINUES TO BE
REDUCED BECAUSE WE REALLY MENTIONED IMPACT FEES OF BEING THE ONLY WAY BUT THAT'S SOMETHING WE BRUSHED OVER IS THE STATE LEGISLATION HAS CONSISTENTLY LOWERED THE MILLAGE RATE WE CAN COLLECT. IS THAT NOT ANOTHER AVENUE THAT WE CAN LOBBY AND TALK ABOUT RAISING OUR REVENUE THROUGH? >> I WOULD ENCOURAGE YOU TO TRY TO HAVE THAT MILLAGE RESTORED AND YOU WOULD HAVE ALLIES AND YOU WOULD HAVE ALLIES AMONG A LOT OF SCHOOL DISTRICTS IN MAINTAINING IT. >> Jessica Vaughn: THAT IS SOMETHING WE MIGHT WANT TO
PARTNER WITH CHARTER SCHOOLS ON FARCE GETTING A CAMPAIGN RAISED BECAUSE THEY WOULD HAVE A VESTED INTEREST IN THAT, TOO. WHEN WE TALK ABOUT, YOU KNOW, GOING OUT FOR CAMPAIGNS FOR MORE FUNDING FOR PUBLIC EDUCATION, WE ARE IN THE ARENA NOW WHERE WE HAVE TO PARTNER WITH CHARTER SCHOOLS TO GET THAT REVENUE RAISED. SO THAT MIGHT BE SOMETHING ELSE THAT WE WANT TO, YOU KNOW, THAT WE WANT TO, YOU KNOW, THINK ABOUT REALLY TALKING ABOUT. IT'S NOT JUST HAMMERING COUNTY COMMISSIONS, BUT SINCE 2008, I MEAN, THAT'S 17 YEARS AGO WE'RE TALKING ABOUT, THE STATE LEGISLATION HAS NOT PRIORITIZED
RAISING THAT MILL AN. AND I THINK THAT'S -- MILLAGE. THAT'S ANOTHER CONVERSATION WE NEED TO TALK ABOUT MORE THAN JUST IMPACT FEES. I FEEL LIKE I'M GOING OVER SO I'M GOING TO TRY TO GO THROUGH THIS VERY QUICKLY. I DO HAVE A LOT OF COMMENTS IN RESPONSE TO REBOUNDERRING OUR EMPTY BUILDINGS. I WANTED TO ASK ANT WHAT IT LOOKS LIKE WITH THE LAST PIECE OF LEGISLATION SLIPPED IN AT THE LAST MINUTE ABOUT SCHOOLS OF HOPE AND WHAT THAT LOOKS LIKE OCCUPYING OUR SCHOOLS.
I THINK THAT'S A CONVERSATION FOR THE SECOND PIECE WHEN WE COME BACK. I WANT TO TALK ABOUT REBOUNDERRING SCHOOLS. SUPERINTENDENT, I THINK YOU SAID YOU HAVE NO INTENTION OF THAT NOW BUT THAT'S A CONVERSATION WE HAVE TO TALK ABOUT AND LOOK AT ESPECIALLY WHEN WE'RE TALKING ABOUT OVERAND ABOUT OVERAND UNDERCROWDING. I WOULDN'T WANT TO DO A DISTRICT-WIDE REBOUNDERRING AGAIN, BUT LOOKING AT ONE SCHOOLS AND HAVING THE BOARD MEMBERS TO HAVE THE OPPORTUNITY TO UNDERSTAND WHAT THAT LOOKS LIKE AND LOOK AT SCHOOL BY SCHOOL IS IMPORTANT.
AS FAR AS THE JUST -- THE AS FAR AS THE JUST -- THE WHOLE JUST MIDDLE SCHOOL, THAT AREA, I UNDERSTAND YOUR UNDERSTAND YOUR FRUSTRATION, BUT I UNDERSTAND PREVIOUSLY TO YOU COMING ON, COMING ON, SUPERINTENDENT DAVIS HAD PROMISES MADE AND A BOARD HE PUT TOGETHER TO LEAD THE WAY ON WHAT THAT WHAT THAT JUST WHAT THAT JUST REDEVELOPMENT WOULD LOOK LIKE. I WANT TO BE CLEAR YOU CAME INTO THAT WITH A COMMITTEE ALREADY
PUT TOGETHER TO GIVE A LOT OF DIRECTION. I THINK THAT'S WHY IT'S IMPORTANT THAT WE CONTINUE TO HAVE THESE CONVERSATION. THERE ARE A LOT OF THINGS ON THIS LIST OF PROJECTS AND WE HAVE QUESTIONS ABOUT THAT. WE SLOWLY TALKED ABOUT THIS AS A BOARD MEETING. I WAS TOLD IT WAS A LIVING DOCUMENT, BUT THERE ARE A LOT OF THINGS ON THE LIST THAT DON'T KNOW HOW IT GOT ON THE LIST. IT SOUNDS LIKE IT SOUNDS LIKE CHAMBERLAIN OTHER PROJECTS ON THE LIST. WE ALL HAVE QUESTIONS ABOUT THE PRIORITY. THAT'S ALL IMPORTANT THINGS THAT WILL BE IN THE SECOND PIECE HOPEFULLY AND THAT WE'LL HAVE TIME TO TALK ABOUT.
THAT'S ALL I HAVE FOR RIGHT NOW. I'M DEFINITELY GOING TO GET BACK IN THE QUEUE IF WE HAVE TIME FOR IT. I GUESS THAT MEANS -- LET'S SEE. WE ARE WE ARE AT 11:15. YOU HAVE 45 MINUTES WITH THREE BOARD MEMBERS, BOARD MEMBERS, PROBABLY FOUR, WHO ARE ALREADY IN QUEUE FOR COMMENTS. DO YOU WANT TO MOVE ON TO THE SECOND PIECE OF THIS AND TRY TO FIT THAT FIT THAT IN? >> IT'S A GOOD QUESTION. IT'S THE BOARD'S WILL. MR. WRIGHT IS MR. WRIGHT IS A LOCAL BUSINESSMAN. I WOULD LOVE FOR HIM TO SHARE
HIS OPINIONS, WITH THE IDEA YOUR WON'T MAKE A DECISION ON WON'T MAKE A DECISION ON THAT. I'M SURE HE WILL BE HAPPY TO DO IT BECAUSE HE'S BEEN A GOOD PARTY WITH THE DISTRICT FOR YEARS. I WOULD LOVE THE OPPORTUNITY FOR MR. WRIGHT TO AT LEAST BE ABLE TO TALK ABOUT THE EVALUATION OF PROPERTIES AND HOW WE GOT TO THOSE SO THAT WE DON'T HAVE TO BRING HIM BACK IF WE DON'T HAVE TO. >> Jessica Vaughn: MEMBER COMBS, ARE YOU GOING TO WANT TO ASK QUESTIONS? >> Nadia Combs: IT'S ALL INTERCONNECTED. I THINK WE NEED TO SEE THE WHOLE PICTURE AND BREAK IT UP LATER. YOU CAN'T LOOK AT GROWTH WITHOUT
LOOKING AT THE OPPOSITE OF GROWTH, RIGHT? >> Jessica Vaughn: ARE YOU GOING TO BE ABLE TO DO THAT IN 15 MINUTES? >> JUST BY THE VOLUME OF INFORMATION I SHARED WITH YOU, IF YOU HAD TWO HOURS, I COULDN'T GET THROUGH IT ALL. THAT'S NOT MY INTENT IN BEING HERE TODAY. I THINK TRYING TO GIVE A VERY HIGH UNDERSTANDING OF WHAT WE LOOKED AT, HOW WE LOOK AT THINGS SO IT COULD ARM SO IT COULD ARM YOU. THEY ALL ARE INTERCONNECTED, I AGREE WITH THAT, AND I THINK HAVING SOME IDEA OF HOW THIS IS DONE, EVEN IF WE DON'T GET DOWN
TO THE VERY SPECIFIC DETAILS, WOULD BE WOULD BE HELPFUL, MY OPINION. >> Jessica Vaughn: WE HAVE 45 MINUTES LEFT. I ANTICIPATE AT LEAST 30 MINUTES WITH FOUR OR FIVE BOARD MEMBERS IN QUEUE FOR QUESTIONS, WITH THE AMOUNT OF RESPONSE IT TAKES. ARE YOU ABLE TO SHARE ENOUGH INFORMATION IN 15 MINUTES THAT IT WOULD BE WORTH YOUR TIME? >> YES. THE METHODOLOGY IS GOING TO BE THE SAME FOR EVERY SITE. WE'RE NOT CHANGING IT EVERY TIME FOR EVERYTHING, SO THE PROCESS OF, IN TERMS OF REALLY BEING ABLE TO DIVE INTO THE ABLE TO DIVE INTO THE INDIVIDUAL
SITES ABSOLUTELY NOT. BUT PROCESS METHODOLOGY, ABSOLUTELY. >> Jessica Vaughn: IF YOU HAVE TIME TO DO THE OVERVIEW, LET'S GET STARTED. >> WORKS FOR >> WORKS FOR ME. >> I WOULD RATHER SEE THE PRESENTATION THAN THE QUEUES. >> I WILL BE AS FAST AS I CAN TO ACCOMMODATE THIS H. FIRST AND FOREMOST, WE WERE PROVIDED THE LIST OF SITES TO LIST OF SITES TO ANALYZE.
WE WERE NOT INVOLVED IN THAT. IT WAS PURELY TO LOOK AT THE SITES, INTERPRET, EVALUATE THEM FOR VALUE PURPOSES. MOST OF THEM WOULD BE MOST OF THEM WOULD BE REPURPOSED IN OUR ANALYSIS AND WE GO THROUGH THE PROCESS OF UNDERSTANDING WHAT THAT COULD POTENTIALLY BE. THE SCOPE OF THE PROJECTS, WE'RE SITTING IN FRONT OF SITTING IN FRONT OF THEM, ALLER SITTING IN FRONT OF THEM, ALLER A LLER ARE DIFFERENT SITES AND MARKETS. WHILE THE PROCESS IS THE SAME,
THE OUTCOMES ARE CHANGED PI THE OUTCOMES ARE CHANGED PI THE ACTUAL DATA ACTUAL DATA PERFORMED. WE WANT TO GO THROUGH UNDERSTANDING THINGS LIKE THE LAND LAND USE, THE LAND USE, THE AJACENSCIES, THINGS AROUND THERE, THE CURRENT MARKET MARKET CONDITIONS MARKET CONDITIONS AND MARKET CONDITIONS AND RATES. ONE, IF YOU CAN BUILD ON IT IS, A HOUSE IS DIFFERENT THAN A
30-STORY HIGH RISE, THE DENSITY, AND THE OTHER IS THE MARKET RENTS, WHAT THE MARKET WILL BEAR, WHETHER FOR-SALE PRICE OR RENTAL RATE. THE COSTS ARE FIXED. WE DON'T REALLY CONTROL. COSTS ARE COSTS. SO WE SO WE LOOK AT THE LENS TO SEE WHAT MARKET DEMAND SUPPORTS EACH USE. WE WENT THROUGH THE MAJOR PRODUCT TYPES, PRODUCT TYPES, MULTI-FAMILY,
OFFICE, CONDO, HOTEL, HOSPITALITY, THOSE ARE THE PREDOMINANTOUSES THAT WOULD BE CONSIDERED. ONE OF THE SITES WE ONE OF THE SITES WE LOOKED AT, A TOWNHOME DEVELOPMENT POTENTIAL WAS NOT. BUILDINGS AS IF, YOU'RE IN A BUILDING AND COULD POTENTIALLY LEASE THE BUILDING TO SOMEBODY ELSE, WHAT DOES THAT LOOK LIKE IN COMPARISON TO SELGT THE LAND THAT WOULD BE TORN DOWN? WE TAKE ALL THE WE TAKE ALL THE VARIOUS MODELS. YOU HAVE THE MARKET STUDIES FROM USES FROM COMPS. YOU HAVE THE FINANCIAL YOU HAVE THE FINANCIAL MODELS SIMPLIFIED TO ILLUSTRATE THE
HIGH ORDER OF MAGNITUDE OUTCOMES. THEN AS WE ARE ABLE TO DECIPHER WHICH ONE IS GOING TO DERIVE THE HIGHEST VALUE, WE THEN ARE -- WE GET TO OUR RECOMMENDATION IN TERMS OF PRICE AND USE. WE BACK INTO THEM BASED OFF OF THE COMPLETED BUILDINGS. SO IF WE WERE SO IF WE WERE THINKING AT YOU'RE GOING TO BUILD AN APARTMENT TOWER, WE START WITH THE UNDERWRITING OF WHAT THE COMPLETED APARTMENT TOWER WOULD BE WORTH, THE RENTS, THE EXPENSES, AND BACK IN TO BUILD UP BACK TOWN DOWN TO THE
UP BACK TOWN DOWN TO THE APPRO XIMATE LAND VALUE. THINGS HAVE CHANGED IN THE LAST THREE YEARS IN THE REAL ESTATE MARKET, BUT LOCALLY THE INTEREST RATE INCREASE HAS FROZEN THE MARKETS AND PEOPLE MOVING HERE THAN BEFORE, WE'LL SEE THE LOWEST IN PROBABLY TEN OR 14 YEARS THAT WE'VE HAD. WE'RE STILL GETTING A LARGE PROPORTION OF THAT. THOSE THINGS WEIGH GREATLY NOT JUST IN TERMS OF THE VALUE OF SOMETHING BUT THE FEASIBILITY OF MOVING FORWARD WITH IT. IF THIS IS THREE YEARS AGO OR THREE YEARS NOW, VALUES CAN FLUCTUATE GREATLY BASED ON THE
FACTORS. THIS IS A CURRENT SNAPSHOT BASED ON THE CURRENT MARKET PERFORMANCE OF THE VARIOUS PRODUCT TYPES, AND, YOU KNOW, BASICALLY OUR ASSESSMENT ON WHAT MAKES THE MOST SENSE FROM AN ECONOMIC PERSPECTIVE. >>> SOME CHALLENGES BEING FACED IN THE IN THE WORLD IN THE WORLD TODAY IN THE WORLD TODAY, LESS PEOPLE A RE COMING TO THE AREA THAN THE PRECEDING FIVE OR SEVEN YEARS. THE HIGH RECORD INTEREST RATE
INCREASES THREE YEARS INCREASES THREE YEARS AGO. MARKET, MARKET, INTEREST RATES REVERBERATE THROUGH THE DEVELOPMENT. 2024, SPECIFICALLY IN APARTMENTS SAW THE HIGHEST THRAVE OF APARTMENTS IN THE DELIVERY OF THE TAMPA BAY AREA. A LOT OF PRODUCT DELIVERED EXACT SAME TIME OF THE SLOW DOB AND POPULATION MIGRATION, SO YOU'VE SEEP RENTS FLATTEN AND GO DOWN OVER THE LAST TWO YEARS.
STARTING TO ABATE AS ABSORPTION WAS STRONG, BUT APARTMENT RENTS HAVE BEEN GOING DOWN THE LAST TWO YEARS AND WILL EVENTUALLY RUN ITS RUN ITS COURSE. WHILE 24 WHILE 24 '24 WAS THE WHILE 24 '24 WAS THE LARGEST, 2 6, '27, DEVELOPMENT PIPELINE IN HILLSBOROUGH COUNTY DROPS TO NEAR ZERO BECAUSE OF THE ECONOMIC VALUE IT FACED OVER THE LAST SEVERAL YEARS. LONGER-TERM OUTLOOK BEYOND THAT, WE ARE ABSORBING NOW NOTHING WILL BE BUILT, THE
WILL BE BUILT, THE MARKET WILL GET TIGHT AND IN THE FUTURE YOU WILL BUILD TO WHAT YOU THINK WILL HAPPEN IN THE MULTI-FAMILY SPACE. LAST BUT NOT LEAST BECAUSE OF THE YEARS PRECEDING THE LAST YEARS, YOU HAD 30%, 40% RENT INCREASES FROM THE 2019 TO INCREASES FROM THE 2019 TO THE 2022 PERIOD, THE INCREASE CREATED A TREMENDOUS DEMAND AROUND AFFORDABLE HOUSING AND THAT WILL CONTINUE IN THE FUTURE AND LOT WITHIN THAT.
AS RELATES TO METHODOLOGY, I PAUSE GIVEN THE TIME CONSTRAINT YOU MENTIONED, BECAUSE I WOULD NEXT START TO GO INTO THE INDIVIDUAL SITES. METHODOLOGY, THOUGH, I WOULD WANT TO PAUSE AND SEE IF THERE ARE ANY QUESTIONS RELATED TO THAT IF THAT'S OKAY WITH THE MEMBERS. >> ONE OF THE IMPORTANT PARTS OF HAVING ANDREW HERE IS OBVIOUSLY HE'S AN EXPERT IN THE FIELD. HE LIVES AND BREATHES IN THIS FIELD AND WE WANTED HIM TO TAKE A LOOK AT IT AS OPPOSED TO SOMEBODY COMING THROUGH AN EDUCATIONAL LENS. IF THERE ARE ANY QUESTIONS AS TO HOW WE LOOKED AT THOSE OR
FRANKLIN LOOKED AT THEM. >> Jessica Vaughn: I HAVE HUNDREDS OF QUESTIONS I DON'T HAVE TIME FOR WHICH WAS MY CONCERN TO BEGIN. WITH I NO EMEMBERS ARE QUEUED UP AND THAT DOESN'T EVEN ADDRESS THE PREVIOUS OR ONGOING QUESTIONS WE HAVE. WE'RE ABOUT AT 7 MINUTES. ARE YOU AVAILABLE FOR PRIVATE MEETINGS ON THIS, TOO? >> YES, OF COURSE. I WILL MAKE MY TIME AVAILABLE TO YOU GUYS AS MUCH AS POSSIBLE AND NEEDED. MY WANTING TO JUST JUMP IN WAS TO GIVE YOU A VERY HIGH LEVEL, TO EVEN FRAME THE INFORMATION YOU'RE LOOKING AT. I KNOW IF I GET
I KNOW IF I GET A PALM BEACH COUNTY LIKE THIS AND HAVE TO DIGEST IT, IT GLAZES OVER AND TAKES A WHILE. I'M HAPPY TO MEET WITH MEMBERS ONE ON ONE ONE ON ONE TO WALK THROUGH. >> Jessica Vaughn: I'LL SAVE A MAJORITY OF MY QUESTIONS FOR MAJORITY OF MY QUESTIONS FOR A ONE-ON-ONE MEETING. DR. HAHN. >> Stacy Hahn: IMAGINE 38, WHEN IT COMES TO THE FIVE PROPERTIES YOU'VE CHOSEN, JEFFERSON FOR EXAMPLE, IS THAT GOING TO BE RELOCATED, GOING TO BE RELOCATED, THAT
SCHOOL? >> RELOCATION. THE FIVE PROPERTIES WERE PICKED BECAUSE OF THE BECAUSE OF THE USE. BREWSTER WAS TICKED WHERE A TON OF GROWTH IN TAMPA HEIGHTS. >> Jessica Vaughn: IS THAT A RELOCATE OR CLOSE. >> A RELOCATE. NONE OF THOSE WERE THAT FAR DOWN TO HAVE THE TO HAVE THE PATH. WE WANTED TO LOOK AT THE PROPERTY, DO WE WANT TO REBUILD, RELOCATE OR CLOSE DOWN, THAT WASN'T THE FACTOR, WE JUST WANTED TO GIVE A VALUE OF WHAT THE PROPERTY LOOKS LIKE. WE GET WE GET APPROACHED A LOT ABOUT
SPECIFIC PROPERTIES. >> Jessica Vaughn: YOU CAN'T SELL SCHOOLS. WHEN YOU RELOCATE JEFFERS UPYOU CAN'T SELL THE PROPERTY EVEN THOUGH IT'S WORTH A THOUGH IT'S WORTH A LOT OF MONEY. >> A LOT OF OPTIONS, YOU CAN LAND SWAP, LIKE THE SHERIFF'S DEPARTMENT WITH THE GROWTH FINANCIAL, BUT YOU'RE EXACTLY RIGHT, YOU CAN'T SELL SCHOOLS. ACROSS THE STREET THEY KNOCKED DOWN THE DOUBLETREE, IT WILL BE A MULTI-MODAL CENTER. IT'S ALWAYS ABOUT HIGHEST AND BEST USE. IS IT REALISTIC TO DO THAT? >> Jessica Vaughn: YOU WILL
HAVE TO GO OUT WITH RFP WITH THE LAND SWAP. NOT GOING BACK DOWN THAT ROAD. >> CORRECT. >> Jessica Vaughn: OKAY, THANK YOU. >> DID YOU HAVE QUESTIONS ON THIS PIECE SPECIFICALLY, MEMBER GRAY? >> I WANTED YOU TO KNOW ALL THE VARIABLES. (INDISCERNIBLE). >> THE GOOD THING ABOUT REAL
ESTATE, WHILE THERE'S A LOT OF THINGS TO IT, IT'S FAIRLY SIMPLE WHAT IT COSTS TO BILL IT, INCLUDING THE LAND, WHAT YOU CAN LEASE IT FOR, WHAT THE FINANCING COSTS WOULD COSTS WOULD LOOK LIKE, AND THEN THE INTEREST RATES CORRELATE TO A PRICING METRIC WE A PRICING METRIC WE CALL CAPITALIZATION RATE. A CAP RATE IN ITS SIMPLEST FORM IS A RATE OF RETURN IF YOU PAID ALL CASH. IF I BOUGHT SOMETHING FOR A MILLION AND THROWS MILLION AND THROWS OFF 100,000 I GET A 10% RETURN, THOSE CORRELATE TO INTEREST RATES.
BECAUSE PEOPLE UTILIZE DEBT SO OFTEN WITHIN REAL ESTATE, IT'S AN ASSET CLASS GENERALLY HIGHLY LEVERAGED WITH DEBT. THEY LOOK AT THE CORRELATION OF THOSE. WHEN YOU LOOK AT THE COST OF BORROWING AT WHAT WAS 3% OR 4% AND YOU'RE ABLE TO BUILD AS 5%, YOU'RE GETTING A POSITIVE LEVERAGE SPREAD WHICH DRIVES VALUE, WHERE IT WAS 5% AND GOES FROM 3 TO 6, IT RESETS THE 5% VALUE. WHILE INTEREST RATE IS ALSO IMPORTANT, I'M MAKING THE POINT INTEREST RATE IS NOT JUST IMPORTANT IN THE DIRECT COST
RELATED TO IT BUT RELATED TO IT BUT END-BACKED RELATED TO IT BUT END-BACKED IN THE EVALUATION MULTIPLE THAT WOULD BE ASSIGNED TO IT AS WELL. >> INCREASING MORE KNOWLEDGE NEEDS TO BE HAD. I'M DONE WITH THAT. THANK YOU. >> YOU HAVE A FEW MINUTES TO FINISH. >> IN CLOSING OUT, A LOT OF IT IS ASSUMPTION IS ASSUMPTION BASED. WHEN YOU'RE GOING THROUGH THE VARIOUS PROJECTS AND TRYING TO UNDERSTAND WHAT IS GOING TO BE THERE, JEFFERSON BEING THE MOST EXTREME AT 60 ACRES, IT COULD BE A LOT OF DIFFERENT THINGS
A LOT OF DIFFERENT THINGS. WE ARE MAKING ASSUMPTIONS BASED OFF WHAT WE BELIEVE IT COULD FIT, WHAT FIT, WHAT THE MARKET ACCEPTANCE WOULD BE BASED OFF THE VARIOUS USES. IN EACH INSTANCE, WHEN WE GO THROUGH THEM, IT'S NOT JUST AN ASSUMPTION THAT I THOUGHT THIS IS A GOOD NUMBER IS A GOOD NUMBER PERSONALLY. THERE'S SUBSTANTIATED DATA, WHETHER IT WOULD BE FOR RENTAL, FOR al-, FOR al-, EVERYTHING IN YOUR BACKLET THAT:TAINTS MARKET DATA THAT WOULD BACK UP THE OPINIONS, THERE'S ALMOST ZERO OPINION
OTHER HAN THE VERY END OF US MAKING A RECOMMENDATION BASED ON ALL THE DATA ANALYSIS. BUT I JUST BUT I JUST KNOW THAT HAVING DATA SUBSTANTIATE INFO AND DECISIONS WOULD BEEN VERY IMPORTANT. I THINK THERE'S EXCESS DATA IN THERE ON ALL THESE ELEMENTS. >> OKAY. SO, WE STILL HAVE A ROUND OF MEMBERS WHO HAD QUESTIONS FROM THE PREVIOUS ONE AND THIS INFORMATION. MEMBER GRAY, DID YOU HAVE QUESTIONS THAT YOU WANTED TO ADDRESS BEFORE I MOVED ADDRESS BEFORE I MOVED ON? >> Lynn Gray: YES, AND I'M
GOING TO INCLUDE BOTH AREAS. SO, IN GOING BACK SO, IN GOING BACK TO BOARD COMMENTS, WHEN WE TALK ABOUT FUTURE WORKSHOPS, WHICH INDEED WE NEED TO HAVE THE WE NEED TO HAVE THE CLARITY, I DEFINITELY WOULD LIKE TO SEE THAT INCLUSION OF A FINANCE PLAN BECAUSE ALL THIS HITS OUR FINANCES DIRECTLY. JAMIE, YOU AND I HAVE TALKED ABOUT THAT, SO I WOULD LIKE THAT TO BE INCLUDED IN THOSE FUTURE WORKSHOPS. HOW IT AFFECTS US FINANCIALLY. I ALSO
I ALSO APPRECIATE I ALSO APPRECIATE THE BOARD MEMBERS' COMMENTS ABOUT KEEPING TRACK OF THE EXPEND COURSE AND OUR REVENUE, WHAT'S COMING OUR REVENUE, WHAT'S COMING IN, EXPENDITURES LIKE EXPENDITURES LIKE JUST, EXPENDITURES LIKE JUST, STUART. I I BELIEVE, I BELIEVE, SUPERINTENDENT SUPERINTENDENT VAN AYERS, UT WOULD BE IMPORTANT TO PUT TOGETHER A DASHBOARD
PUT TOGETHER A DASHBOARD OF VISUAL VISUAL. WE HAVE TO MEASURE THE REVENUE STREAMS COMING AND THE STREAMS COMING AND THE DEFICITS THAT ARE COMING. THE PUBLIC NEEDS TO SEE THIS. BEFORE YOU ASK FOR MONEY, YOU HAVE TO MANIFEST SAVINGS AND YOU HAVE TO HAVE TO MANIFEST WHAT OUR HAVE TO MANIFEST WHAT OUR FISCAL SITUATION IS. SO MANIFESTING SO MANIFESTING MEANS SHOWING HOW WE'RE SAVING, WHAT WE'RE SPENDING AND HOW CAREFUL WE ARE.
WE'LL TALK ABOUT THAT LATER BUT -- GO AHEAD. >> NO, JUST GETTING CLARIFICATION. ON THE DASHBOARD, WE'RE TALKING IT ENCOMPASSES CAPITAL AND OPERATION DOLLARS? >> Lynn Gray: CAP PAL TORTURE AN OPERATIONAL. THIS IS A BIG PART OF OUR FISCAL FUTURE. AND WHEN IT COMES TO THE DIRECT CORRELATION WITH WHAT MR. WRIGHT'S SAYING, AND THIS IS NOT NECESSARILY NOW, BUT A VISUAL, WHEN YOU TALK ABOUT
THOSE FIVE SITES, THOSE FIVE SITES, YOU KNOW, THOSE FIVE SITES, YOU KNOW, HOW THE THE OVER-SUPPLY AFFECTS HOW THE INTEREST RATES AFFECTS HOW THE AFFORDABLE HOUSING AFFECT, THE INCREASE INSTRUCTION. SOMETIMES IT'S BETTER TO HAVE A VISUAL, AND IT NEEDS TO BE IN REAL TIME, NOT ANOTHER SIX MONTHS, BUT I THINK WITH EVERYTHING SO EVERYTHING SO SHAKY -- I DON'T KNOW IF KNOW IF MR. FARKAS IS KNOW IF MR. FARKAS IS SHAKING -- BUT THINGS ARE SO MUCH IN FLUX.
SO I WOULD RATHER, THE BEST OF YOUR ABILITY, TO HAVE IT ON THE DAIS FOR DAIS FOR THE DAIS FOR THE SCHOOL BOARD MEMBERS. >> YOU GET A LOT OF OPERATIONAL UPDATES CONSTANTLY EVERY MONTH. I'LL GET WITH MR. LEWIS AND MR. FARKAS OF WHAT THAT LOOKS LIKE, IF THAT'S OUT THERE, AND HAVING A CAPITAL COMPONENT BECAUSE AS WE'RE GETTING INTO CAPITAL, THAT IS NOT SOMETHING YOU GET OTHER THAN HAVING
ONE-ON-ONEs WITH MR. FARKAS ON CAPITAL. YOU GET YOUR YOU GET YOUR BUDGET AMENDMENTS ALL THE TIME. CAPITAL IS NOT CAPITAL IS NOT PUBLICLY DISPLAYED. I GET WHERE THIS IS GOING. >> Lynn Gray: YEAH, IT'S A BIG PIECE OF OUR BUDGET. ALSO, IN ALSO, IN AGREEMENT WITH MEMBER VAUGHAN, I ALSO THINK THE IDEA OF IMPACT FEES, WE HANDLED IT LAST TIME, I THINK WE CAN HANDLE IT AGAIN, HANDLE MEANING BRING IT UP AGAIN FOR IT UP AGAIN FOR CONSENSUS BECAUSE REVENUE STREAMS WILL BE
CRITICAL WHICH MEANS EVEN THE PROSPECT OF CLOSING SCHOOLS NEED TO BE ALSO ON THE TABLE. I DON'T I DON'T IMAGINE US GOING TO THE LAND OF WEALTH THE NEXT YEAR OR SO OR THREE YEARS. SO, WE CAN'T PUT ANYTHING OFF THE TABLE. I ALSO THINK THAT THE MILLAGE INCREASE, ALTHOUGH THAT WAS A HARD ONE TO GET CHANGED, BUT THAT WAS A GREAT THAT WAS A GREAT IDEA, MEMBER VAUGHN, TO SHARE IT WITH THE CHARTER SCHOOLS, AND I THINK WE HAVE THOSE POSSIBILITIES. I DON'T THINK WE CAN CLOSE ANY DOOR TO LOOK AT WHERE WE CAN GET
MONEY, MONEY, RIGHT? >> RIGHT. >> Lynn Gray: SO LOOKING AT THE BOARD MEMBERS, AND WE'RE LOOKING AT WHERE WE ARE THINKING EVERY OPPORTUNITY. SO THAT'S OUR COMMENTS. THE BOUNDARY CHANGES, YEAH, I DEFINITELY THINK THAT'S AN OPPORTUNITY, WHICH CONNECTS WITH SCHOOL CLOSINGS, COOL SITE CLOSINGS, POSSIBLY. SO, THOSE ARE ALL MY THOUGHTS, THANK YOU, MEMBER THANK YOU, MEMBER VAUGHAN. >> Jessica Vaughn: THANK YOU, MEMBER GRAY.
DR. HAHN. >> Stacy Hahn: IMPACT FEES. YOU KNOW, YOU KNOW, WE ARE GOING TO BE TALKING ABOUT AFFORDABLE HOUSING, ABOUT THE NEED TO DOUBLE, TRIPLE IMPACT FEES, BUT, YOU KNOW, WE'RE IN THIS PLACE, IT CAME UP WHEN MEMBER VAUGHAN ASKED HER QUESTIONS, YOU KNOW, THE COUNTY COMMISSION IS A PASS-THROUGH, AND THIS INCREASE GETS PASSED THROUGH RIGHT TO GETS PASSED THROUGH RIGHT TO THE HOMEOWNER. SO, THEY'RE PROBABLY THINKING A LITTLE BIT ABOUT THAT WHEN
THEY'RE MAKING THOSE DECISIONS BECAUSE WE'RE IN THIS CRISIS OF HOUSING HOUSING HAS JUST GONE SKY HIGH AND, YOU KNOW, YOU CAN'T SAY, WELL, WE'RE GOING TO DOUBLE IMPACT FEES OR TRIPLE THEM TO DO THIS, SOLVE THIS PROBLEM OVER HERE, WHEN IT'S JUST EXASPERATING THE PROBLEM OF AFFORDABLE AFFORDABLE HOUSING, WHETHER YOU'RE TALKING ABOUT WHETHER YOU'RE TALKING ABOUT A $100,000 $100,000 TOWNHOUSE FOR A HOMEOWNER OR A MILLION-DOLLAR HOME, IT GETS PASSED ON TO THE
HOME OWNER. SO THERE'S GOT TO BE SOME KIND OF BALANCE THERE. YOU CAN'T SAY YOU WANT AFFORDABLE HOUSING AND THEN TRIPLE IMPACT FEES. IT WORKS AGAINST EACH IT WORKS AGAINST EACH OTHER. THE OTHER POSE IS THE OTHER POSE IS K-8s. WE'VE HEARD A LOT -- PARENTS REALLY WANT REALLY WANT K-8s. AND, AND, SO, YOU KNOW, WHETHER IT'S CONVERTING SCHOOLS OR BUILDING
MU SCHOOLS LIKE WE -- NEW SCHOOLS LIKE WITH SCHOOLS LIKE WITH ADUM AND -- I DON'T REALLY SEE THAT REFLECTED HERE, AND I THINK THAT WE'RE IN THIS REALLY, YOU THIS REALLY, YOU KNOW, CHOICE ENVIRONMENT NOW, WHERE PARENTS ARE MAKING IT CLEAR THAT THAT'S THE CHOICE THAT'S IMPORTANT TO THEM, A THEM, A K-8 THEM, A K-8 SCHOOL. I'M HEARING IT NOW FROM ANOTHER SCHOOL IN MY DISTRICT, AND, YOU KNOW, AND I'M HEARING IT FROM SCHOOLS DOWN IN SOUTH COUNTY,
K-8s, K-8s. SO, HOW MUCH MORE EXPENSIVE IS IT TO BUILD A K-8 THAN A SEPARATE ELEMENTARY AND MIDDLE SCHOOL? >> FROM A CONSTRUCTION STANDPOINT, NOT THAT STANDPOINT, NOT THAT ENOUGH MORE EXPENSIVE. IT'S MUCH MORE ON THE OPERATION SIDE OF THE HOUSE, BUT FROM A CONSTRUCTION POINT, CONSTRUCTION POINT, IT'S NOT. >> Stacy Hahn: I'M LOOKING AT BISHOP ROAD ELEMENTARY SCHOOL,
STUART MIDDLE AND JUST. WHY ARE WE NOT THINKING OF OUR SCHOOLS MOVING FORWARD AS SCHOOLS MOVING FORWARD AS K-8s THAN SEPARATE THAN SEPARATE ELEMENTARY AND MIDDLE SCHOOLS. >> I AGREE WITH YOU. THE LAST TWO WE BUILT WERE K-8s. THEY BOTH HAVE A WAITING LIST SO THEY HAVE BEEN VERY SUCCESSFUL. TO ANSWER YOUR QUESTION, IT MAY BE WORTH IT TO SPEND MORE TO OPERATE IT. BUT NOTHING ON THE OTHER SITES THERE THAT WOULD STOP US FROM
HAVING HAVING K-8s. >> Stacy Hahn: IT'S INTERESTING BECAUSE WHEN I WATCH THE STATE BOARD OF ED, THE SUPERINTENDENT OF INDIAN RIVER SPOKE, AND THEY STRATEGIC PLAN, THEY ARE COMMITTED TO BUILDING K-8s MOVING FORWARD. SPECIFICALLY, HE SAID THEY'RE RESPONDING TO WHAT PARENTS WANT IN THIS WORLD OF CHOICE THAT WE'RE LIVING IN THAT THEY ARE BEING, YOU KNOW, VERY MINDFUL OF THEIR CONSUMERS AND THEY WANT TO KEEP THOSE FAMILIES OR GET NEW FAMILIES.
SO, YOU KNOW, AND SO, YOU KNOW, AND I KNOW THEY'RE A MUCH SMALLER DISTRICT AND IT'S NOT APINGS TO NOT APINGS TO -- APPLES TO NOT APINGS TO -- APPLES TO APPLE S. GIVEN THE FEEDBACK WE'VE RECEIVED RECEIVED RECEIVED FROM PARENTS ABOUT K-8, I THINK WE SHOULD I THINK WE SHOULD MOVE IN THAT DIRECTION. >> YES, THANK YOU FOR BRINGING IT UP. THE WANT AND NEED FOR THE WANT AND NEED FOR K-8 HAS INCREASED AND INCREASED AND WITH APOLLO BEACH
AS MENTIONED. WE CAN TIE IT IN WITH MEMBER RENDON'S COMMENT WITH STUDENT COST PER SCHOOL, THAT WOULD BE A NUMBER TO LOOK AT. K-8, A MIDDLE SCHOOL THAT'S 200 TO 300 IN A MIDDLE SCHOOL SKEEING VERSUS A TRADITIONAL MIDDLE SCHOOL WHICH IS 1,400. BUT THE STUDENT COST PER SCHOOL WOULD BE HIGHER THAN K-8 THAN TRADITIONAL MIDDLE SCHOOL 6-8. THAT'S AN INCREMENT. IF IT BRINGS STUDENTS INTO THE
DISTRICT AND DISTRICT AND GENERATES MONEY, IS IT WORTH IT. SO THANK YOU FOR BRINGING THAT UP. >> (INDISCERNIBLE). >> YOU CAN MAKE THE MIDDLE SCHOOLS LARGER. >> THE COST DIFFERENTIAL WILL BE THE PERSONNEL COST. THE MIDDLE SCHOOL CAMPUS THE MIDDLE SCHOOL NUMBERS ARE A LITTLE SMALLER SO YOU WILL HAVE TO PAY A LITTLE TO PAY A LITTLE MORE. CONSTRUCTION IS A SAVINGS. MANY EXAMPLES, ADUM HAS ONE CAFETERIA, ONE
CAFETERIA, ONE GYM. IF WE BUILD IF WE BUILD IT IF WE BUILD IT AS , IT WILL HAVE TWO. >> THEY'RE OBVIOUSLY IN CLOSE PROXIMITY, WHY NOT JUST BUILD A K-8 ON THAT SITE AND NOT HAVE TO DUPLICATE THE EFFORTS. >> IN THE PLANT CITY SITE, THERE ARE A COUPLE OF SITES THAT ARE LARGE ENOUGH. WE'VE SHOWN WITH YORK AND ADUM WE DON'T NEED AS MUCH LAND TO
TRADITIONALLY DO THAT. >> Stacy Hahn: JUST >> Stacy Hahn: JUST BEING SMART RESPONDING TO WHAT PARTICIPANTS WANT AND TRYING TO ATTRACT. BUT I TO THINK WE NEED TO REALLY FOCUS, TOO, ON FOCUS, TOO, ON VARIOUS REVENUE STREAMS, AND WE'LL GET INTO THAT AT THE NEXTUP AT THE NEXTUP AT THE NEXTUP NEXT WORKSHOP, OBVIOUSLY, AS THE AS THE CONVERSATION AS THE CONVERSATION CONTINUES. >> MEMBER COMBS? >> THANK YOU, CHAIR VAUGHAN. I BROKE THIS DOWN INTO
I BROKE THIS DOWN INTO FIVE AREAS. IF YOU LOOK AT GROWTH ALONE IN SOUTH COUNTY AND BEYOND, YOU KNOW, THE FUNDING ASPECT WE TALKED ABOUT, AND I APPRECIATE ALL THE BOARD MEMBERS, MEMBER GRAY AND MEMBER HAHN ANDMEMBER VAUGHAN TALKING ABOUT THE FUNDING SOURCES AND LOOKING AT THE LARGE THE LARGE BUILDINGS, THE THE LARGE BUILDINGS, THE ROSSAC AND AND RAMPELLO BUILDING, AND LOOKING AT SCHOOLS CONTINUING TO
BE UNDERENROLLED. ONE OF OUR BIGGEST JOBS IS IF WE'RE GOING TO TRY TO GET THE HALF-PENNY TAX RENEWED, WE NEED TO MAKE SURE THE COMMUNITY KNOWS WE'RE DOING EVERY SINGLE THING AND MAKING SURE EVERY PENNY COUNTS. ONE OF THE THINGS WE TINTED TALK ABOUT, ONE OF THE THINGS I'M WONDERING ABOUT THIS WONDERING ABOUT THIS IS SOME OF THE MARKET VALUES SEEM LOW COMPARED TO WHAT I WOULD IMAGINE BECAUSE I REMEMBER NOT THAT LONG AGO THE RAMPELLO WAS 20 MILLION, I KNOW THAT CAN FLUCTUATE QUITE A BIT, SO DEFINITELY WOULD LIKE TO LOOK AT SECOND AND THIRD
ESTIMATES WHEN WE GET SOMETHING LIKE THAT, BECAUSE TO ME THE MARKET VALUE LOOKED LOW ESPECIALLY ESPECIALLY ROSSAC. ESPECIALLY DOWNTOWN WHERE BUILDINGS WHERE NEVER REPLACEABLE. I SEE HUGE HIGH I SEE HUGE HIGH RISES GOING DOWN OVER AND OVER. WE TALKED ABOUT A PUBLIC PARTNERSHIP, WORKING WITH THE GOVERNMENT, MAYBE THE HOUSING AUTHORITY, COMPARED TO WORKING WITH A PRIVATE PARTY WITH A PRIVATE PARTY AND WITH A PRIVATE PARTY AND -- PRIVATE PARTNER AND LOOKING AT THAT. THANK YOU FOR YOUR TIME AND
RECOMMENDATIONS, BUT SOME OF THESE LOOKED LOW TO ME SO I WOULD HIKE TO LOOK AT THESE IN MULTIPLE WAYS. ONE OF THE THINGS WE TALKED ABOUT BEFORE AND I WANT TO CONTINUE IS WE TALKED A LOT ABOUT LEASING AND SELLING. OBVIOUSLY. , WE AREN'T ALLOWED TO SELL. WE MAKE SURE WE GET AN RFP AND GO OUT THERE. MR. PORTER, IF WE CAN PULL THE POLICIES AND SIT DOWN AND REVIEW THAT. I WANT TO MAKE SURE NO MATTER
WHAT HAPPENS IN THE FUTURE, WHAT BOARD MEMBERS COME AFTER US, THAT WE THAT WE ARE CONSISTENT AND WE HAVE A POLICY TO MAKE THE BEST DECISIONS, THAT THERE'S NO INFLUENCE ON HOW WE DO THINGS, THAT WE MAKE SURE WE CREATE A POLICY. I KNOW WHEN I FIRST GOT ON THIS BOARD, AS SOON AS I GOT ON THIS BOARD, I VOTED FOR BOARD, I VOTED FOR ROSSAC TO BE AN EXCESS AN EXCESS PROPERTY. I DIDN'T EVEN KNOW AND I FELT THAT TO BE VERY ODD TO ME AT THAT TIME. WHEN I FIRST GOT ON THE BOARD, I THINK THE FIRST FEW MONTHS, I WAS, LIKE, WHY ARE WE MAKING
THIS EXCESS PROPERTY, SO IT CAN BE SOLD? I WANT TO CREATE STRONG POLICY SO THAT WAY IT'S VERY CLEAR FOR THE FUTURE OF WHAT HAPPENS AS THINGS CHANGE AND BOARD MEMBERS COME AND GO FOR COME AND GO FOR THAT. THE OTHER THING IS LOOKING AT CREATIVE WAYS OF LEASING SOME LAND. WE TALKED ABOUT THE PAY CENTER WHICH IS AN AN AMAZING -- OUR P AY CENTER IS ONE OF THE ONLY CENTERS IN THE BANK NOT LOCATED IN A SCHOOL. WE CAN DO WONDERFUL THINGS FOR DIFFERENT PARTNERSHIPS TO MAKING SURE THEY ARE OUT THERE.
SO I THINK WORKING SO I THINK WORKING ALONG THAT WAY AND LOOKING AT WHAT THE NEEDS ARE, YOU KNOW, WE'VE TALKED ABOUT SUCCESS CENTERS, MAYBE RELOCATING SOME OF MAYBE RELOCATING SOME OF THOSE. THIS NEEDS TO BE BROKEN DOWN INTO PROBABLY FIVE DIFFERENT WORKSHOPS AND WE NEED TO SPEND MAYBE A WHOLE DAY AS A BOARD, YOU KNOW, MAYBE A RETREAT AND JUST SPEND AN ENTIRE DAY ALL DAY JUST LOOKING AT ALL OF THIS, LOOKING AT ALL THE PROPERTIES, GETTING MORE FEEDBACK, BECAUSE THE ONE THING THAT I FEEL THAT THINGS TAKE SO LONG WHEN IT
COMES TO WORKING FOR THE GOVERNMENT, I'M JUST BEING HONEST. I REMEMBER SEVEN MONTHS AGO WE HAD A WORKSHOP HAD A WORKSHOP AND HAVEN'T MOVED THAT MUCH. SO I WOULD LIKE TO SEE A MOVEMENT. I HAVE I HAVE THREE-PLUS YEARS LEFT. I WOULD REALLY LIKE TO SEE A MOVEMENT AND SOME CHANGES IN THE NEXT THREE YEARS, SO I THINK THAT'S GOING TO REQUIRE US COMING TOGETHER AS A RETREAT AND WORKING HARD ON THESE TOPICS. IF NOT, TEN YEARS LATER, THIS COULD STAY. THE OTHER THICK IS WHAT'S THE MOST IMPORTANT THING IS HAVING TEACHERS IN FRONT OF STUDENTS AND WE HAVE TO THINK OF WAYS TO
GET THAT MONEY BECAUSE WE'RE NOT GETTING IT FROM THE STATE LEVEL AND LOOKING AT TRUE AFFORDABLE HOUSING FOR THE SCHOOLS IN NEED WHERE YOU HAVE THESE HUGE VACANCIES IN VACANCIES IN THE VACANCIES IN THE URBAN CORE. THAT'S ANOTHER ISSUE WE WOULD LIKE TO LOOK AT. FINALLY, I BELIEVE AS WE LOOKED THROUGH AND LOOKED AT ALL THE FISH REQUIREMENTS, THERE ARE SOME SCHOOLS THAT IN THE FUTURE WE'VE LOOKED AT THE FIRST LOT. REHAVE TO LOOK REHAVE TO LOOK AT OTHER SCHOOLS -- WE WE HAVE TO LOOK A T OTHER SCHOOLS.
WE CAN'T KEEP SCHOOLS OPEN THAT HAVE A FEW HUNDRED STUDENTS IN THERE. THAT'S THE BOTTOM LINE. YOU I HAVE TO PUT ALL MY RESOURC ES INTO STUDENTS. I TALK ABOUT THIS ALL THE TIME. YOU CAN BECOME A DOCTOR TAUGHT OUT IN THE FIELD, YOU CAN BE IN THE TAJ MAHAL WITHOUT A TEACHER AND NOT LEARN. WE HAVE TO PUT THE RESOURCES IN FRONT OF THE STUDENT. I DON'T CARE IF THE SCHOOL IS BEAUTIFUL AND EMPTY IF THERE'S NOT A TEACHER IN FRONT OF THE CHILD. THERE ARE SO MANY COMPLEX
ISSUES, BUT I WOULD LIKE TO SAY A RETREAT AT THE BEGINNING AND CONTINUE TO DO WORKSHOPS. THESE ARE THE MOST IMPORTANT THINGS TO COVER. AS WE ASK FOR A RENEWAL FOR THE SALES TAX AND WE LOOK AT THE GROWTH AND IMPACT FEES, WE NEED TO LET THE VOTERS KNOW AND OUR CONSTITUENTS KNOW THAT WE'RE DOING EVERYTHING POSSIBLE TO MAKE SURE THAT WE'RE REALLY MAKING REALLY FISCAL, SOUND DECISIONS ON EVERY DECISIONS ON EVERY OPTION. SO THERE'S SO MUCH -- I HAVE HOURS TO TALK TO BUT THOSE ARE MY OF ALL VIEWS. THANK THANK YOU.
>> Jessica Vaughn: >> Jessica Vaughn: THANK YOU, MEMBER COMBS. MEMBER RENDON IS ON LINE ON TEAMS. >> Patti Rendon: THANK >> Patti Rendon: THANK YOU, MADAM CHAIR. I WANT TO AGREE ON SEVERAL OF THE POINTS. I THINK IT'S A GOOD IDEA TO DIG IN DEEP. THIS IS VERY SURFACE LEVEL OF DECISIONS WE THEDE TO MAKE. I'M VERY MUCH REMINDED OF THAT DECISION WHEN WE HAD TO REBOUNDARY AND REDISTRICT AND CLOSE SCHOOLS. IT IS SO DIFFICULT TO MAKE THOSE
DECISIONS TO IMPACT SO MANY CHILDREN'S LIVES AND FUTURES. AND THERE WAS A COMMITTEE CREATED BASED UPON CREATED BASED UPON MR. DAVIS' DECISION. WE NEVER HEARD FROM THE COMMITTEE BEFORE IT WAS PUBLICLY ANNOUNCED WHAT WE WERE GOING TO VOTE ON. SO I WANT TO MAKE IT SO I WANT TO MAKE IT CLEAR SO I WANT TO MAKE IT CLEAR THAT IT'S (INDISCERNIBLE) RESPONSIBILITY TO MAKE GOOD DECISIONS. WHEN IT COMES TO K-8, IT'S A GOOD THING TO ROLL INTO THAT.
IF WE LOOK AT THE FACTORS AND COST-PER-STUDENT ALLOCATIONS, REALLY BRINGS THAT AROUND. ENED I DO APPRECIATE THAT. I WOULD ALSO LIKE TO KNOW HOW, AS WE MOVE FORWARD WITH THIS DISCUSSION, EACH ONE OF THESE DIFFERENT VARIABLES, NOWHERE IN THERE TO WE HAVE ANY OF OUR CURRENT LEGISLATIVE CHANGES WITH A CAPITAL DOLLARS, THAT'S ONE VERY BIG -- WHERE THEY'VE CREATED THAT CAPITAL DOLLAR NOW COULD BE USED FOR OTHER THINGS OTHER THAT BE JUST CAPITAL EXPENSES WHEN IT COMES TO THE STATE'S ALLOCATION AMOUNTS.
AND, SO, I THINK THAT'S IMPORTANT TO KNOW CLEARLY EXACTLY WHERE OUR FUNDING EXACTLY WHERE OUR FUNDING LIES IN THEIR LEGISLATIVE CHANGES. AS WE MOVE FORWARD TO ADDITIONAL WORKSHOPS, I WANT TO MAKE SURE WE BRING IN HOW THE LEGISLATIVE CHANGES ARE CHANGES ARE MADE AND CHANGES ARE MADE AND ANY FUTURE LEGISLATION COMING UP IN THE NEXT YEAR TO KNOW HOW THAT WILL IMPACT THESE DECISIONS. I WANT TO THANK EVERYBODY FOR THEIR COOPERATION AND THE MAJOR EFFORT AND WORK THAT WENT INTO NOT ONLY BOARD MEMBERS BUT STAFF IN PUTTING THIS WHOLE THING
TOGETHER AND I THANK YOU FOR CREATING A FUTURE FOR CREATING THESE CONVERSATIONS. THANK YOU. >> THANK YOU, MEMBER RENDON. WE HAD MEMBER PEREZ IN QUEUE BUT SHE SAID SHE WOULD GET WITH YOU PERSONALLY MR. FARKAS TO HAVE HER QUESTIONS ANSWERED. I BELIEVE SHE'S NOT IN QUEUE. I WANT TO MAKE SURE I'M NOT CUTTING HER OFF. ANYBODY HEAR ANYTHING DIFFERENT? AGAIN, SHE'LL FOLLOW UP WITH YOU. DO WE HEAR YOU, MEMBER
DO WE HEAR YOU, MEMBER PEREZ? >> Karen Perez: YES. I JUST WOULD LIKE I JUST WOULD LIKE TO -- REALLY QUICK -- IF QUICK -- IF WE LEASE OUT ANY PROPERTIES OR ANYTHING HIKE PROPERTIES OR ANYTHING HIKE L IKE THAT, THE THAT, THE BUILD-OUT IS ON THE LESSEE, CORRECT, NOT ON LESSEE, CORRECT, NOT ON US? >> IT WILL BE PART OF THE AGREEMENT BUT I WOULD ASSUME WE WOULD PUT IT ON THE PERSON WHO'S BUILDING IT BUILDING IT OUT, THAT'S CORRECT. >> Karen Perez: AND MY FELLOW
BOARD MEMBERS, I WANT TO THANK YOU FOR PUTTING THIS TOGETHER BECAUSE IT'S REALLY, REALLY IMPORTANT. I HAVE A SECOND QUESTION. I KNOW I'M GETTING A LOT OF E-MAILS E-MAILS ON E-MAILS ON (INDISCERNIBLE) CREEK. WE ARE TALKING ABOUT SAVING MONEY AND FISCAL RESPONSIBILITY. A QUICK QUESTION -- HOW MUCH WOULD IT COST TO WOULD IT COST TO PUT THAT -- YOU
KNOW, KIND OF BRING THAT UP TO CODE, THAT CODE, THAT STRUCTURE? AND IS THERE ANY AND IS THERE ANY HISTORICAL BUILDING GRANTS TO POSSIBLY HELP WITH THE RESTORATION OF WITH THE RESTORATION OF TURKEY CREEK? AND COULD THERE BE ANY CODE ENFORCEMENT ISSUES WE WOULD ALSO HAVE TO ADDRESS WITH THAT BUILDING? >> THAT'S A LOT OF QUESTIONS. I'LL TRY TO ANSWER THOSE FOR YOU, MS. PEREZ. YES, WE WOULD CHANGE THE USE IN THEORY SO ALL THE NEW BUILDING CODES WOULD HAVE TO BE UPDATED.
WE HAD SOME LOOKED AT INITIALLY A FEW YEARS A FEW YEARS BACKED THAT A FEW YEARS BACKED THAT A A FEW YEARS BACKED THAT A FEW THINGS CHANGED SINCE THINGS CHANGED SINCE THEN. MS. OR MS. OR MS. OR THERE WAS NOT A SECOND E GRESS INTO THE BUILDING, THE OLD TURKEY HIGH SCHOOL, SO BATHWAYS AND STAIRWAYS WOULD HAVE TO BE REDOPE, LIKE TAMPA HEIGHTS
REDOPE, LIKE TAMPA HEIGHTS WHERE EVERYTHING HAD EVERYTHING HAD TO BE EVERYTHING HAD TO BE REDONE. WE HAVE SOMEONE ON THE JOB AND STARTING THE JOB. I WANT TO GET A TIMELINE TO THE BOARD. I WANT TO I WANT TO GET US A REAL PRICE AS OPPOSED TO THE OPPOSED TO THE INITIAL CONVERSATION. >> Karen Perez: WHEN WE'RE TALKING ABOUT FISCAL RESPONSIBILITY AND AND LOOKING AT THE PROPERTIES AND SAVING THE DISTRICT, IT WOULD BE SOMETHING I AS A BOARD MEMBER WOULD WANT
TO PUT ON THE BACK TO PUT ON THE BACK BURNER AT THIS POINT. THANK YOU ALL FOR THIS AMAZING INFORMATION. I APPRECIATE IT THANK I APPRECIATE IT THANK YOU, CHAIR VAUGHN FOR ALLOWING ME TO (INDISCERNIBLE). >> Jessica Vaughn: ABSOLUTELY, THANK YOU. I HAVE QUESTIONS AND THEN I WILL GO INTO GO INTO CLOSING. SOME ARE QUESTIONS, SOME ARE COMMENTS. ONE, YOU KNOW, HONESTLY, ONE OF THE THINGS THAT I'M TAKING AWAY FROM THIS WORKSHOP, AND DR. HAHN YOU ALREADY VERY EXCITED ABOUT
THIS, IS THAT THE VALUE IN HAVING A VERY HAVING A VERY ROBUST FUND BALANCE IS DIRECTLY TIED TO OUR CREDIT CREDIT RATING. YOU'VE EVER SIDES EMPHASIZE D THAT'S THE MOST IMPORTANT PIECE WE COULD CONTROL AND MANIPULATE. THAT'S A VALID POINT I WISH WE HAD TALKED ABOUT THAT EARLIER BEFORE THE POLICY CAME TO FRUITION AND WE VOTED ON THAT. BUT I WANTED TO REITERATE THAT WAS A VERY IMPORTANT PIECE, THE ONLY THING WE CAN CONTROL, AND IF WE'RE LOOKING AT HAVING TO FINANCE BUILDING SCHOOLS DOWN THE ROAD, FROM WHAT I'M HEARING
FROM YOU, THE DIRECT CORRELATION AND WHAT WE CAN CONTROL IS WHAT OUR FUND BALANCE LOOKS LIKE. IS THAT CORRECT? >> YES, >> YES, MA'AM, THAT'S CORRECT >> Jessica Vaughn: THE OTHER PIECE IS I KNOW MEMBER COMBS TALKED ABOUT HOUSING AND I KNOW THAT'S SOMETHING SHE'S VERY PASSIONATE ABOUT AND I KNOW YOU TALKED ABOUT MAYBE PARTNERING WITH SPECIFIC GROUPS. BUT HERE ON PAGE 54, THERE'S THE ACTUAL STATUTE AND TALKS ABOUT WHO WE CAN PARTNER WITH AND THAT'S ONLY
THAT'S ONLY H.U.D., LOCAL PROGRAMS. WOULD HOUSING AUTHORITY FALL UNDER LOCAL PROGRAMS. >> THEY WOULD. >> I THINK THE POINT MEMBER RENDON MADE ABOUT HAVING THIS CONVERSATION BEFORE WE DIGESTED THE LEGISLATIVE CHANGES AND WHAT THAT'S GOING TO LOOK LIKE HAS AN EFFECT ON THAT BECAUSE WE CAN MAKE DECISIONS NOW BUT WHEN WE HAVE THE LEGISLATIVE HAVE THE LEGISLATIVE UPDATE, IF THERE ARE A LOT OF THINGS THAT CHANGED, LIKE I MENTIONED WITH THE LAST THINGS WITH SCHOOLS OF HOPE POSSIBLY BEING ABLE TO COME INTO OUR BUILDINGS, THAT'S GOING
TO COMPLETELY CHANGE THE DIRECTION OF THE CONVERSATION THAT BOARD MEMBERS THINK. I THINK UNDERSTANDING LEGISLATIVELY WHAT CHANGES ARE MADE IS REALLY IMPORTANT TO THIS CONVERSATION AND I'M EXCITED IF WE HAVE THAT LEGISLATIVE MEETING BEFORE WE HAVE OUR SECOND PIECE OF THIS WORKSHOP. I ALSO WANT TO SAY THAT, WHILE I AGREE MEMBER GRAY THAT WE ABSOLUTELY NEED A FINANCIAL PLANNING, YOU'VE ASKED FOR IT REPEATEDLY IN MAKING THESE DECISIONS, IT'S INCREDIBLY HARD WITH WE'RE NOT GETTING THE FOURTH QUARTER COUNT, THE FACT THERE'S SO MUCH CHANGING LEGISLATIVELY, THE FACT THAT
AGAIN I'LL REITERATE AT SOME POINT THEY JUST CAME IN AND TOOK MILLIONS OF DOLLARS BACK FROM US BECAUSE THEY OVERSPENT ON VOUCHERS THROUGH NO FAULT OF OUR OWN, TO MR. LEWIS' CREDIT, IT'S HARD TO GIVE A FINANCIAL BUDGET WHEN WE WHEN WE CONSTANTLY CAN'T COUNT ON REVENUE ON REVENUE SOURCES DEPENDING ON WHAT THE STATE WILL ALLOCATE FOR US. I WANTED TO FACTOR THAT IN. BECAUSE THAT'S A BECAUSE THAT'S A CHALLENGES PIECE TO PRESENT US WITH A PLAN AS REVENUE CONTINUES TO AS REVENUE CONTINUES TO CHANGE AS EVERYTHING IS VOLATILE AND
UNSTABLE TO BUILD A PLAN ON -- MY WORDS, NOT YOURS. I DO UNDERSTAND AND TO MEMBER RENDON'S POINT, I APPRECIATE HER BRINGING UP THE FACT THAT WHILE THERE WAS A COMMITTEE WE DIDN'T HAVE INFORMATION OR UPDATES FROM THE COMMITTEE OR WE HAD FEW WHEN TALKING ABOUT JUST AND STUART. I THINK IN GENERAL WHEN WE'RE MAKING ANY PLANS AND DISTRICT WHEN TALKING ABOUT OUR LIST OF PROJECTS, IT'S MORE IMPORTANT AS AN AGENDA ITEM AT A BOARD
MEETING TO HAVE FIVE MINUTES TO TALK ABOUT THAT THAT ALL OF US CARE ABOUT OUR DISTRICTS AND WHAT'S HAPPENING WHAT'S HAPPENING COLLECTIVELY COUNTYWIDE AND WE NEED TO HAVE BETTER DISCUSSIONS, THAT'S NOT A DECISION YOU MADE UNILATERALLY, THAT THERE WAS WORK PREVIOUSLY DONE ON THAT, WHETHER TRANSPARENCY DONE ON IT AND THE BOARD EXPECTS MORE, I APPRECIATE THAT, BUT THAT WAS ALREADY IN THE WORKS WHEN YOU CAME THE WORKS WHEN YOU CAME IN. I'VE ALWAYS BEEN A PROPONENT OF K-8. IF WE ARE MAKING K-8s AND
DECIDING THOSE IN THE BEGINNING DO WE HAVE TO KEEP THE MIDDLE SCHOOL SO SCHOOL SO SMALL? IS THAT WHAT WE'RE IS THAT WHAT WE'RE INTENDING? CAN WE EXPAND CAN WE EXPAND THE MIDDLE SCHOOLS TO HAVE THE LARGER SIZES BECAUSE SOUNDS LIKE THAT'S THE AREA SOUNDS LIKE THAT'S THE AREA OF CONCERN WILL IT WORK IF WE HAVE SMALLER MIDDLE SCHOOLS AND NOT BE ABLE TO ACCOMMODATE AS WE GROW. CAN WE MAKING THE LARGER TO ACCOMMODATE FROM THE BEGINNING? >> IF YOU LOOK AT AN ELEMENTARY BOUNDARY, ELEMENTARYs ARE THE
SMALLEST. THE MIDDLE SCHOOL IS LARGER WITH TWO OR THREE MIDDLE SCHOOLS TO DO IT. THE NUMBER OF STUDENTS DON'T EQUATE. TRUE K, SAME STUDENTS FROM CINDER FARENHEIT TO EIGHTH GRADE, THE NUMBERS IN SIXTH, SEVENTH, EIGHTH WILL BE LOWER. APPLICATION ONLY, YOU CAN ADD STUDENTS TO SIXTH THROUGH EIGHT. WE CAN DO WHAT WE WANT TO, BUT TO MATRICULATE, YOUR SIXTH AND SEVENTH AND EIGHTH WON'T BE AS LARGE AS A TRADITIONAL MIDDLE
SCHOOL, AND WE HAVE 3 TO 500 AND NOT 1400 THROUGH NOT 1400 THROUGH 1600. NOT EVERYONE THAT'S THERE IN KINDERGARTEN FINISHES THROUGH EIGHTH GRADE. >> IF YOU LOOK AT A DECISION MADE BY THE BOARD MADE BY THE BOARD AROUND COLLINS K-8 IS ONE OF OUR K-8 IS ONE OF OUR LARGEST, THAT WASN'T AN ADD
WASN'T AN ADD ON-ON WASN'T AN ADD ON-ON ADD-ON- BUILD, AND IT'S BEEN TREMENDOUSLY BEEN TREMENDOUSLY SUCCESSFUL. >> Christopher Farkas: ALL WE MADE WERE BUSTING AT AT MADE WERE BUSTING AT AT THE SEA MS. >> THERE'S A LOT OF INFRASTRUCTURE PROBLEMS WITH ALLOCATIONS WHEN YOU HAVE TWO SCHOOLS AND THAT CAN BE A WORKSHOP ON ITS OWN. I APPRECIATE MEMBER COMBS BRINGING UP THE PAY BRINGING UP THE PAY CENTER. GREAT EXAMPLE, WOULD LIKE TO TALK ABOUT THE PAY CENTER GOING
FORWARD. TALKING ABOUT UNDERENROLLMENT, IF THERE'S A POSSIBILITY OF A BENCHMARK OF WHAT WE CONSIDER UNDERENROLLMENT WHETHER UNDERENROLLMENT WHETHER 50%,OFF 60%, AND BOARD MEMBERS GET A LIST OF THE SCHOOLS SO WE'LL HAVE AN IDEA OF WHAT WE'RE TALKING ABOUT. MANY OF US KNOW WHAT THAT LOOKS LIKE IN OUR DISTRICT AND WE WANT TO DISCUSS IT COUNTY WIDE, WHATEVER THE BENCHMARK WHATEVER THE BENCHMARK IS, GET A LIST OF SCHOOLS UNDER ENROLLS. WE TALK ABOUT MAGNET SCHOOLS. IT'S CHALLENGING TO HAVE THE CONVERSATION BECAUSE WE HAVE SO
MANY DIFFERENT TYPES OF MAGNET SCHOOLS. ONES IN MAGNET SCHOOLS AND BOUNDARIES, ONE TRADITIONAL PROGRAMS IN THAT, TOO. WITH WE TALK ABOUT SETTING METRICS ON THAT, I WOULD REALLY LIKE TO CLASSIFY WHERE THAT FALLS AND HAVE A DEEPER CONVERSATION ABOUT MAGNET SCHOOLS AS WELL. AGAIN, THOSE ARE COMPLEX AND WE HAVE SO MANY DIFFERENT MODELS THAT THAT REQUIRES A LOT MORE CONVERSATIONS. AS FAR AS RETREAT GOES, I'M OPEN TO RETREAT. SOME TO HAVE THE CHALLENGES AS MEETING BOARD MEMBERS' SCHEDULES, WE HAVE A HARD TIME FINDING PLACES ON
FINDING PLACES ON CALENDARS. WE HAVE WE HAVE TO DECIDE IF WE WANT TO HAVE A RETREAT IF IT MEANS WE WANT EVERY MEMBER PRESENT OR WILLING TO HAVE RETREATS AND IF A BOARD MEMBER HAS TO MISS, THEY HAVE TO, BECAUSE THAT'S OUR BIGGEST CHALLENGE IS CONSTANTLY FINDING AN EIGHT-HOUR PERIOD ON SEVEN DIFFERENT ELECTED BOARD MEMBERS' SCHEDULES NO MATTER HOW FAR WE TRY TO DO IT IN ADVANCE. WE HAVE TO EITHER PRIORITIZE WE'RE GOING TO HAVE A RETREAT AND DO IT WITHOUT CERTAIN BOARD MEMBERS OR BOARD MEMBERS ARE GOING TO BE MORE GOING TO BE MORE FLEXIBLE
BECAUSE I WANT TO BE CLEAR ABOUT THE CHALLENGES OF SCHEDULING. I APOLOGIZE YOU CAME AND WEREN'T ABLE TO PRESENT. ANYTHING IN ANYTHING IN CLOSING? >> YES. I WANT TO MAKE SURE THERE IS A TON OF WORK THAT WENT INTO TON OF WORK THAT WENT INTO THIS. ANDREA WRIGHT HAS BEEN A PART OF THE DISTRICT. FORD & ASSOCIATES HAVE BEEN OUR PARTNERS, THE VALDEZ TEAM, A LOT
OF WORK WENT INTO THESE MEETINGS. YOU'RE HERE TO SUPPORT KIDS AND PA THAT'S RIGHT BE PART OF THAT. KUDOS TO THE BOARD FOR SAYING LET'S EMBRACE IT AND HAVE THIS CONVERSATION AND TALK ABOUT DIFFERENT ASPECTS OF IT. THERE WAS NO EASY WAY TO BREAK IT DOWN BUT BY HAVING THIS CONVERSATION I THINK YOU COULD SEE AND MS. COMBS MADE DLIN DELINEATIONS ON WHAT THAT LOOKS LIKE. I WOULD BE HAPPY TO SET UP MEETINGS TO SEE IF YOU WANT TO GO THROUGH IT. I THINK IT'S AN IMPORTANT
CONVERSATION. KEEPS ME UP AT NIGHT AND I WOULD LIKE TO SHARE THE ANGUISH OF WHAT'S GOING ON AS WELL. THANK YOU FOR HAVING THE CONVERSATION BECAUSE IT IS UNCOMFORTABLE TO HAVE IT THIS THICK AND TWO-HOUR CONVERSATIONS. >> THANK YOU FOR YOUR TEAM AND BEING ABLE TO BE HERE. SOME OF THE THOUGHTS AS WE MOVE FORWARD IS WE JUST HAD A TOTAL DISTRICT-WIDE REBOUNDARY JUST DOPE THREE YEARS AGO. WHAT I HEARD WAS NOT AN APPETITE FOR THAT TO DO THAT AGAIN, SO THAT IS OFF THE TABLE. HOWEVER, REALLY TARGETING CERTAIN ONES AND I'LL WORK WITH
STAFF TO BRING FORWARD SOME OF WHAT THAT MIGHT LOOK LIKE MOVING FORWARD WITH SMALLER, IF WE HAVE TO LOOK AT TAKING TWO SCHOOLS, COMBINING THEM INTO ONE, HAVING ANOTHER AVAILABLE PROPERTY, MAYBE SMALLER BOUNDARY MAYBE SMALLER BOUNDARY CHANGES WITHIN OUR DISTRICT, BUT WE'LL DEFINITELY BRING THAT FORWARD AND BRING THAT TO EACH OF YOU TO HAVE DISCUSSION AROUND INDIVIDUAL, SMALLER BOUNDARY CHANGES RATHER THAN THE FULL DISTRICT-WIDE REBOUNDARY THAT WE JUST TOOK ON TWO JUST TOOK ON TWO YEARS AGO.
>> Jessica Vaughn: THANK YOU SO MUCH FOR EVERYONE WHO'S COME, ALL THE HARD WORK ON THE TEAM FOR THE BOARD MEMBERS AND LOOK FORWARD TO SCHEDULING THE SECOND ONE. WITH THAT, THIS WORKSHOP IS ADJOURNED.