Construction Frequently Asked Questions

Bond and Construction Frequently Asked Questions (FAQs)

We are incredibly excited for the work that is taking place related to the success of the November 2024 election that saw a historic 64% approval vote for Platte Valley School District’s bond initiative. We are incredibly grateful for the support and belief in the power of public education our community has for Platte Valley.

We know there is tremendous anticipation and curiosity about the construction project. Below is a list of FAQs related to our bond, the construction process, and timelines. We will work to routinely update information and keep our community informed of developments with this exciting project.

Platte Valley Bond Sale and Finance Ratings

What was the District's finance rating?

What is the expected payoff period for the 2024 bond?

How did the District's bond sale go, and who purchased them?

Platte Valley’s sales were part of a competitive day with other large front range entities hitting the market on the same day. The market ended up preferring Platte Valley’s shorter structure with a 15-year amortization compared to the 25-year payoff of the other large entities. The final result led to Platte Valley locking in a True Interest Cost (TIC) of 3.31%, resulting in a $300,000 savings in annual payments from what was communicated in initial community communications. Additionally, the sale led to $12 million in premium due to strong demand for the District’s bonds in comparison to its counterparts in the market on the day of the sale.

There were a number of entities involved in purchasing the District’s bonds including mutual fund managers and large regional and national banks.

What is the bond measure funding?

The voter-approved bond measure will be used to replace the 66-year-old Platte Valley Middle School, improve safety and security districtwide, and address building improvements at both Platte Valley Elementary School and Platte Valley High School. Additionally, the district will be using funds it had in hand to replace the central office that is not ADA compliant. The central office was not a part of the bond but was only going to be replaced if the bond passed. All of these items were part of the communications that took place leading up to the November 2024 election.

What accountability will there be regarding the use of funds?

Platte Valley School District takes tremendous pride in the transparency we have with our community. We will continue to provide regular and routine updates to our Board of Education on use of funds, budget successes and shortfalls, and updates on a monthly and quarterly basis. Additionally, the District reports financial updates to District Accountability sharing how dollars are being spent, where they are being spent, and percentage of funds used.

Can the District invest these funds?

Yes. In 2019 Platte Valley School District began working with a municipal advisor to invest monies from the bond sale that do not need to be entirely liquid. We develop a projected cash flow plan for the duration of the construction projects. Not all the bond proceeds are required to be liquid at once. The District invests these dollars in accordance with Colorado statute and includes US Treasuries, Federal Securities, Corporate Bonds with at least a AA rating, Municipal Bonds, and Certificate of Participation (CoP).

Construction-Related Items

When is construction projected to start?

The Platte Valley Board of Education decided to pursue advance planning beginning in May 2024. This effort was to try to get ahead of the projected demand that would be taking place related to school construction knowing there was approximately $6 billion in school construction initiatives across the state. This thoughtful and prudent planning has allowed us to get a head start on a lot of design and planning work. The District has already begun to apply for permits and anticipates construction to begin during spring break 2025, on or about March 10th.

What areas will be impacted during construction?

The District is working to put together phasing and traffic plans. We want to ensure they are thoughtfully and thoroughly assembled so we do not release multiple plans that contradict each other and create confusion for our community. Once those items are finalized, there will be a significant amount of communication.

Generally speaking, the city block that includes the entirety of the preschool, elementary school, and middle school will be impacted by construction. This includes 1) the main parking lot on the north of the middle school which will be closed off and made inaccessible during the entirety of construction, and 2) a significant portion of the middle school football field. For reference, think of the areas from 5th Street to 9th Street and Hill Street to Clark Street.

JHL, the general contractor selected for this project, will set up its staging area north of Hill Street, and trade parking will be at the north side of the football stadium.

What is the construction timeline?

As we all know, construction is a complex process with a lot of entities involved including local government, state government, permit processes, designers, general contractor and sub-contractors. Our tentative timeline and goal is as follows:

March 2025 – Construction fencing and staging area to be set up, dirt work to begin, general construction across the district to begin. Leveling and resodding high school practice football field to take place.
August 2025 – New preschool parking will be available for use, increasing staff and preschool family parking capacity to approximately 45 spots. This will also separate preschool parking from all other traffic areas.
January 2026 – New central office slated to be open along with new parking area. This building needs to be completed and open prior to the middle school to accommodate for change in fiber routing related to the District’s internet operations for the entirety of the district.
Fall 2026 – New middle school slated to be open along with new middle school parking and parent drop-off located off 9th Street. Campus site-work continuing to take place.
Fall 2026 – After new middle school is fully occupied, abatement of current middle school will take place. Upon completion of abatement, current middle school and central office will come down to make way for new athletic field and green space to be put down. Expected completion is winter to spring 2027.
Spring 2027 – All site work completed including new elementary parking and student drop-off area off of Clark Street, new green spaces and athletic fields completed, and all landscape completed.
Spring 2028 – All bond-related deferred maintenance projects will be completed including roofing work, HVAC updates, and security and technology upgrades.

What will happen with spring activities, including LAR, during construction?

This entire project is going to take tremendous flexibility, patience, and partnership amongst all. Specifically related to LAR, in spring 2025 it will take place in the current middle school field house, the portion of the current middle school football field that will be accessible (for the cattle show), with the horse show taking place in the east stadium parking lot. We have worked in conjunction with the Ag Department to brainstorm and identify best possible solutions for LAR. In spring 2026, the cattle show would move to the high school practice football field once the field has been re-established after spring 2025 work. This is because site work associated with the middle school will not be completed in spring 2026.

The District will be working with the middle school and high school to coordinate athletic practices that will be impacted by this construction. Additionally, we will be working with Cougars football and the Town of Kersey Recreation Department to best accommodate and facilitate programs and Platte Valley School District facility use.

Opportunities to Provide Feedback

How can district residents provide feedback on the funding proposal?

How else can residents learn more about the District's MLO and bond proposal?