The Bee Cave Bee

"Progress on the Lake Travis Independent School District’s 2011 bond program continues at a swift pace as trustees authorized the sale of $158.5 million in school building bonds and awarded contracts for construction manager services for the Hudson Bend Middle School Expansion project and architectural/engineering services for the New Lake Travis Middle School project as well as the Elementary School No. 6 project during a regular meeting of the board held January 26.

“In order for us to meet the anticipated increase in student enrollment—especially at our two middle schools, it is imperative that we go to market for the sale of these bonds now, especially when fixed interest rates are near all-time lows,” said Dr. Brad Lancaster, LTISD Superintendent of Schools.  “We cannot begin construction until the bond funds are received (from the sale).  While the construction process proceeds with eagerness and enthusiasm, our community should rest assured that we are committed to completing these projects on time and within budget.”

Trustees approved the issuance of ‘Lake Travis Independent School District Unlimited Tax School Building Bond, Series 2012’ for a single sale of the full, voted-authorized $158,455,000 in a fixed rate mode.  Once the bonds are sold at market—which District officials anticipate will occur in February, the program will be referred to as the 2012 Bond program.

“A single issue avoids the increased cost of issuance,” said Johnny Hill, LTISD Assistant Superintendent for Business, Financial and Auxiliary Services.  “It also eliminates interest rate risk.”

Earlier this month, trustees approved the selection of BOSC, Inc. to serve as the District’s senior underwriter for the sale of the bonds.  Co-managing underwriters include Southwest Securities, Raymond James, Morgan Keegan, First Southwest Company, Piper Jaffray and MR Beal.  In all, the District received 24 respondents to its Request for Qualifications for underwriting services issued in December.

Additionally, trustees selected the firm of Baird/Williams Construction, Ltd. from Temple to serve as Construction Manager At-Risk for the Hudson Bend Middle School Expansion project.  The Construction Manager At-Risk—or CMAR—is a method that requires a commitment by the construction manager to deliver the project within a guaranteed maximum price. The construction manager acts as a consultant to the owner in the development and design phases, and also provides general contractor services during the construction phase. The CMAR must then manage and control construction costs to not exceed the guaranteed maximum price.

According to Jim Ratcliff, LTISD Senior Director for Facilities, Construction and Auxiliary Services, the District received 10 proposals for the Hudson Bend project.

“The firms were evaluated based on their project history, the experience of their proposed personnel and responses from their references,” said Mr. Ratcliff.

In November, trustees approved a contract for architectural and engineering services with Austin-based Fields & Associates for the design of the Hudson Bend Middle School Expansion project.

“The recommendation for the selection of Fields and Associates Architects was based upon its demonstrated competence and qualifications to provide the appropriate services for this project,” said Mr. Ratcliff.  “Historically, Fields has performed excellent work for us through a number of school design and construction projects.  In fact, Fields and Associates designed the original Hudson Bend Middle School.”

To meet the proposed schedule for increasing the school’s current capacity from 900 to 1,200 students, the HBMS project will be constructed in two phases.  The classroom addition phase will add 26 teaching stations to the overall site and is expected to be completed in the summer of 2013. The second phase of construction will include the expansion of core facilities and is scheduled for completion in early 2014.  Overall, phases one and two will add 79,000 square feet to the school’s total footprint.  According to bond documents, the total budget for the HBMS Expansion project is estimated at $22.2 million.

Trustees also awarded contracts for architectural and engineering services to Fields and Associates Architects for the design of the New Lake Travis Middle School and to Austin-based Pfluger Associates Architects for New Elementary School No. 6.  According to Mr. Ratcliff, the District received Statements of Qualifications from 10 architectural firms for the $53.7 million New LTMS project and from 15 firms for the $25 million elementary school.

“Upon conclusion of an extensive interview process, these firms clearly demonstrated the highest level of competence and qualifications to perform the required services for these projects, and we have now negotiated reasonable fees with each firm,” added Mr. Ratcliff.

Nearly 58 percent of the votes cast in the November 8 LTISD election supported the construction of a new elementary school and new Lake Travis Middle School; the expansion of Lake Travis High School into the current Lake Travis Middle School campus; the expansion of Hudson Bend Middle School; upgrades for existing facilities; and district-wide improvements.