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Denver Christian Schools …. A Thriving Future

Denver Christian Schools …. A Thriving Future. Task Force Recommendation – Questions and Answers October 7, 2013. Agenda.

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Denver Christian Schools …. A Thriving Future

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  1. Denver Christian Schools …. A Thriving Future Task Force Recommendation – Questions and Answers October 7, 2013

  2. Agenda Welcome and PrayerOpportunity and Decision Reasons to Move ForwardComments, Concerns, Questions:Identity, Education, Staff, Partners, Facilities, FinancesProcess Moving ForwardAdditional Comments and QuestionsClosing and Prayer

  3. Opportunity and Decision • Strategic planning process (2006) • Operational model study (June 2012) • Vision approved (September 2012) • Recommendation for one campus operational model (April 2013) • Task Force formed by the Board to evaluate sites and financing (May 2013) • Recommendation to the Board (September 2013) • Presentation of recommended location (September 2013) • Open House Tours (September/October 2013) • Vote to move forward (October 11, 2013)

  4. Questions, Comments-Identity Name Community 100 Year Celebration

  5. Questions, Comments-Education • Class sizes • Separation of grade levels • Programming of the building and site • Technology program; other programs • Enrichment, gifted and talented, special needs programs • After-school program enhancements

  6. Questions, Comments-Staff • Current staff and staff in new model

  7. Questions, Comments-Partners • Current families/new families • Times of school • Enrollment targets

  8. Questions, Comments-Partners-cont’d • Leadership recognizes importance of providing transportation options • Evaluation of before / after care programs ties-in with transportation issue • Plan on providing transportation from areas where our current students draw from • May add routes as we attract new students • A transportation fee may be required

  9. Questions, Comments-Partners-cont’d • Leadership recognizes importance of providing transportation options • Evaluation of before / after care programs ties-in with transportation issue • Plan on providing transportation from areas where our current students draw from • May add routes as we attract new students • An additional transportation fee will be required, with the goal of minimizing the economic burden to families

  10. Potential Bus Schedule Example DRAFT • Bus schedule is a draft schedule and would be refined based on actual usage, routes, finalized school starting time, etc • Potential that drop off times would not cause radical shift in families’ morning routine • Potential to run activity / after-care (late bus)

  11. Questions, Comments-Facilities • Geographic area considered • Other sites considered • Teller site features

  12. Questions, Comments-Facilities • The deal; • $24,000,000 Appraised Value • $7,600,000 Sale Price • $4,000,000 seller carry for 3 years at 2% • $3,600,000 cash due at closing • (Task force evaluating options for short term financing if a campus does not sell prior to closing.) • Closing projected for December 1, 2013

  13. Questions, Comments-Facilities • Current Status: Ongoing Updates • --security and technology assessments • --inspections and surveys • --preliminary discussions with city inspectors, fire marshals, and city planners • --financing discussions

  14. Questions, Comments-Facilities • Estimated renovation costs: $11,000,000 • --minor building upgrades/windows $1,150,00 • --gyms and auditoriums $5,000,000 • --fields, site, playgrounds, demolition $1,750,000 • --buses, furniture, technology $1,500,000 • --contingency $1,600,000

  15. Questions, Comments-Facilities Schedule: Design/Preconstruction (4-6 months) --City approvals --Owner’s representative --Architect --Contractor

  16. Questions, Comments-Facilities • Schedule: Construction • March/April to August-Interior Building • Operational items/PK-12 occupancy items, and windows • March/April to August • Utility upgrades, earthwork, demolition, parking, fields. • March/April to August • Gyms/auditorium

  17. Questions, Comments-Facilities • Operation costs • Maintenance costs

  18. Questions, Comments-Finance • Stewardship of our resources and reduced or no debt • Current assets valuations

  19. Questions, Comments-Finance ProposED SITEproceeds from sale of DCS campuses $ 21,000,000Purchase price of Property ($ 7,600,000)estimated CONSTRUCTION/MOVE IN Costs ($11,000,000)Repayment of existing debt ($ 1,600,000) ANTICIPATED RESERVES $ 800,000 New Building ON AN Undeveloped siteproceeds from sale of dcs campuses $21,000,000ESTIMATED PURCHASE AND CONSTRUCTION ($30,000,000)Refinance of existing debt ($ 1,600,000) ANTICIPATED DEBT ($10,600,000)

  20. Questions, Comments-Finance • Tuition impact • Comparison to other scenarios

  21. Why this property, now • Financial/operational impact of failing to act now

  22. Voting Procedure • Why we vote • Who votes • When the vote occurs • Voting procedure

  23. Additional questions, concerns comments • Open floor comments and questions

  24. Closing • Prayer

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