What You Need to Know About Facilities Development Thursday, December 1, 2011
Dec 13, 2015
PresentersBrian Keenan-BWPEric Felczak-BWPRachel Jones-NYCSAJill Norton-Enterprise Charter
AgendaI. Overview Leasing/OwningII. Site Assessment/SectionIII.Costs/FinancingIV.Design, Bidding & Construction
About Us
Build with Purpose is a nonprofit real estate development organization specializing in charter facilities such as charter schools. Since our inception in 2003 we have developed 16 charter schools with total development costs exceeding $120 million serving 5,500 children.
An Integrated Approach• Charter Schools- Working to take the burden of facility
development off the hands of charter schools so they can focus on education.
• School Gardens Initiative- Increasing access to healthy foods by establishing healthy living practices, finding sustainable resources, and providing healthy meal options in schools.
• Energy Institute- Bringing a variety of nonprofits energy efficiency and renewable energy options.
• Community Organizing—Establishing direct service with the groups we serve and their communities through a partnership with the Jesuit Volunteer Corps.
Essentials Leasing vs Owning
• When does it make sense to lease vs. owning?
• What are the cost averages• Start-up considerations• Credit worthiness
Site Assessment/Selection
• Types of property• Environmental Conditions• Location, location, location• Cafagymatorum/Gotta have it• Competition
Costs/FinancingThe 100 sq ft ruleThe $125/$275 ruleNot credit worthyEquityFree moneyHow to control costs
• What comes first the chicken or the egg?• Phases in the design process• When is it too late to make a change?• What’s the architect’s job?• What is a change order? • What is the contractor pricing?
Design, Bidding & Construction
Facilities Construction and Legal Requirements
State Prevailing Wage Public Bidding
NY No Not required
(but many do)
MA Yes Yes
NH No No
RI Yes Yes
CT Yes Yes
Best Practices Examples
State Best Practice 1 Best Practice 2 Best Practice 3
NYRequiring Charters to
Have Policies & Procedures
Vendor Analysis for Equipment or
Consulting
Improving Charter School Leadership
MACreating Positive
School Culture through Character
Education
Using Community Resources to Enhance the
Teaching of History
Classroom Differentiation
CT Student-Created Goals
Social Programs Highlighting
Important Social Skills
Academic Growth Monitored through “Must Pass Policy”
Facilities Financing OptionsQualified School Construction Bonds (QSCBs ) and Qualified Zone Academy Bonds
Allows qualifying schools and/or communities to borrow at little or no interest cost.
Tax-exempt Bonds Need authorized issuer, but keeps interest expense down.
Community Development Financial Institutions
Assist with subordinate debt and loan-to-value concerns
Charter School Credit Enhancement
Assists schools with an ability to borrow more
Build with Purpose PortfolioNewark Educators’ Community Charter School
Newark, NJ•Completion Date: August 2009•Size: 28,000 sq. ft.•Students Served: 450, K-8•Architect: Newwork LLC•Contractor: Artco Contracting and Development•Total Interior Development Costs: $1 Million•Financing/Lender: Victoria Foundation
Build with Purpose PortfolioJersey City Community Charter School
Jersey City, NJ•Completion Date: November 2008•Size: 24,000 sq. ft.•Students Served: 600, K-8•Architect: Jamel Kizel•Contractor: La Rocca•Total Development Costs: $7.7 Million•Financing/Lender: The Reinvestment Fund
Build with Purpose PortfolioTeaneck Community Charter School
Teaneck, NJ•Completion Date: August 2009•Size: 36,000 sq. ft.•Students Served: 306, K-8•Architect: Gertler & Wente Architects•Contractor: La Rocca•Total Development Costs: $11 Million•Financing/Lender: Hamlin Capital and New Jersey Community Capital-Tax Exempt Bonds
Special Thanks to Today’s Host
The Mission Statement of the Enterprise Charter School is- Engaging young minds through projects and partnerships. The Vision of the Enterprise Charter School is to provide students with the knowledge, skills and dispositions to grow and problem solve, giving them the resources to lead and succeed in the school and the community at large.