1. Demographic Update

2.Facilities Condition Assessment

3. Athletic Assessment

This information furnished the board members with facts about how and where the district is growing and an in-depth look at where district facilities need updates, repairs, and upgrades. The Board set the parameters to determine project goals.

Over the course of the past year, the FPS finance team worked with Stephens, Inc. to determine options to best access funds for necessary district improvements. Specifically, how could the district address the needs without changing the tax rate for patrons?

Stephens, Inc. determined that a bond restructure would offer the district the opportunity to realize approximately $111 million in funding without increasing the district’s debt payments and with no millage increase paid by district patrons. (Total bond issue will be for up to $173 million, assuming a 3.5% interest rate. The estimated $111 million is minus the cost of paying the balances of the eight outstanding bonds to be restructured.)