Oak Hills Local School District
Board of Education Meeting
March 11, 2024
Discussion
Guest Introductions
Board of Education
Mischelle Philpot
President
Bart West
Vice President
Rich Haffey
Board Member
Lisa Ibold
Board Member
Sam Yorgovan
Board Member
Administration
Jeff Brandt
Superintendent
Steve Bain
Treasurer
Guest Introductions
Kent Cashell
Managing Director
Andrew Laskey
Director, Public Finance
Guest Introductions
Brad Ruwe
Partner
Valerie.Montoya@ofcc.ohio.gov �Senior Planning Manager��Joseph.Macneil@ofcc.ohio.gov �Senior Planning Manager��Tyler.Palmer@ofcc.ohio.gov �Planning Manager�
DISCLOSURE
Amounts Stated are Estimates
609 Districts are Eligible for Participation
Districts are Ranked per the Equity List
Oak Hills is Ranked 239 (of 609)
How much approximately OFCC fund a construction project in Oak Hills LSD?
* Districts must follow OFCC masterplan & Locally Funded Initiatives excluded.
Could Oak Hills LSD use the 60% state share for air conditioning only?
No
(based on today’s context of discussion)
Could Oak Hills LSD use the 60% state share to acquire land?
No
How much does it cost to build a new school?
2023 = $358 sq ft
Future Estimate = $400 sq ft
How much approximately OFCC fund a construction project in Oak Hills LSD?
* Districts must follow OFCC masterplan & Locally Funded Initiatives excluded.
When will the state contribute 60%?
TBD
The District would have to use local funds to start a project.
Example 1�1 New School Bldg
600 students – Bldg Capacity
125k sq ft building
X $400 sq ft estimate
$50m TOTAL
$30m
$20m
Example 2�2 New School Bldgs
1,200 students – Bldg Capacity (600 each)
250k sq ft bldg (125k sq ft each)
X $400 sq ft estimate
$100m TOTAL
$60m
$40m
Example 3�3 New School Bldgs
1,800 students – Bldg Capacity (600 each bldg)
375k sq ft bldg (125k sq ft each bldg)
X $400 sq ft estimate
$150m TOTAL
$90m
$60m
District Data
3 Tax Supported Funds
Debt
8%
6.7 Mill Levy
November 5, 1996 – Levy Failed (51% / 49%)
Continuing
Bond Issue
3.7 Mills
+
May 6, 1997 – Levy Passed (53% / 47%)
Operating
3.0 Mills
28 Year Term
What percentage of the 1997 bond issue did the state fund?
OFCC Funding Models Have Changed.
Rapid Run Middle School
Oak Hills High School
(gymnasium/commons/media ctr)
Delhi Middle School
(gymnasium / cafeteria)
Bridgetown Middle School
(gymnasium / cafeteria)
May 6, 1997 – Levy Passed
District Office
Oakdale Elementary
Bond Issue Final Payment
(December, 2025)
Bond Issue
3.7 Mills
28 Year Term
Constituents Final Assessment – June 2025
Property Value Increases Have Driven Millage Down
Per State Law
Bond Issue
3.7 Mills
28 Year Term
1997
2025
* estimate
2 Mills
Visionary Options
Options for Bond Issue Millage Upon Maturity �Approximately 2 Mills
Options Presented
Are Not Recommendations
Options for Bond Issue Millage Upon Maturity �Approximately 2 Mills
2025 Election Dates
Not Available at this Time
Considerations
* On average community member would see a reduction in taxes
* Approximately 2 Mills (equivalent to $70 annually on $100k home)
* (17th lowest of 23 districts in Hamilton County)
A. No Levy
Approx
2 Mills
Considerations
* Approx 60% of general fund generated from local taxpayer support
* 1 Levy in 27 years
2. State Funding Projections
* Approx 40% of general fund generated from state support
4. Property Tax Reform
B. Operating Levy
Approx
2 Mills
Considerations
2. Funding flexible for district wide improvements
3. Limited Borrowing Capacities
C. Permanent Improvement Levy
Approx
2 Mills
Considerations
2. Ohio Facilities Construction Commission (OFCC)
* 60% State Share
* Building Assessments
* Master Plan
* Funding Lag
* Interest Rates – debt rating (S&P / Moody’s)
3. Building specific / rather than district wide
D. Bond Issue
Approx
2 Mills
Impacts & Examples
Millage Impact
D. Bond Issue
Generates $30m of local funding for New Construction
2 Mills
Constituent
District
Generates $60m of local funding for New Construction
1 Mill
$35 on $100k Home Annually
No Tax Increase
$70 on $100k Home Annually
No Tax Increase
Oak Hills Buildings �Estimated 2024 Cost
Oak Hills Buildings �Estimated 2024 Cost
Oak Hills Buildings �Estimated 2024 Cost
Example 3�3 New School Bldgs
1,800 students – Bldg Capacity (600 each bldg)
375k sq ft bldg (125k sq ft each)
X $400 sq ft estimate
$150m TOTAL
$90m
$60m
2 Mill Levy
No Tax Increase
If Oak Hills wanted place a bond issue on the ballot in the spring of 2025, is there still time?
Yes, per OFCC.
However since building assessment needs to be completed, the board would need to pass a resolution to get started ASAP.
OFCC will need to work on assessments over the summer for district to bring their projects to the Spring Ballot.
If Oak Hills wanted to receive OFCC funding, what are the next steps?
Have OFCC complete building assessments
Process takes 3-4 months to complete
OFCC could start the building assessments in the summer
IF
The Board of Education Passes a Resolution
With the Estimated Date of the Bond Issue
The date of the expected bond issue must be at least 12 months after the resolution is passed.
Per the Ohio Revised Code��0.5 Mill Must be Set Aside for the New Building�For 23 Years���
Maintenance Requirement
Maintenance Fund Established 1 of 2 Ways:
2. Allocated 0.5 from an existing Perm Improve Fund
If the Board passes a resolution for a building assessment, is there a penalty is the district does not move forward with a bond issue?�
No
There are no penalties if the board were to move forward with a resolution to enter the ELPP program but not issue a bond. Once an ELPP project agreement is executed, the district would have 12 months to pass their bond or we would mark their agreement as expired and the district would have to re enter the program.
Will OFCC renovate buildings rather than replace buildings?
When the cost of renovating a school facility exceeds two-thirds the cost of replacing the facility, the Commission will recommend a new facility or the population of the existing facility will be assigned to another facility.
District Wide Building Assessments
When Could Oak Hills LSD Receive State Funding?
Oak Hills LSD is considered a deferred funding district which is not in the queue for state funding with OFCC for the state share of 60%.
Funding would be available by OFCC when it becomes made available through the biennium budget.
This process could take many years.
If Oak Hills passes a bond issue, does Oak Hills move to the back of the line for OFCC Funding?
No
If Oak Hills fails a bond issue, does Oak Hills move to the back of the line for OFCC Funding?
No
Cost of Construction
Is a cost escalator built in for cost of construction for future years?
Yes
Strategic Plan
Oak Hills Local School District��Strategic Plan�
Indian Hill 2021
Madeira 2021
Finneytown 2019
Lockland 2019
Sycamore 2019
Deer Park 2017
Southwest 2017
Norwood 2017
St. Bernard 2017
Winton Woods 2017
Reading 2015
Northwest 2015
Forest Hills 2014
Wyoming 2012
Princeton 2010
Three Rivers 2010
North College Hill 2007
Loveland 1998
Mariemont 2010
Cincinnati 2003
Mt. Healthy 2007
Indian Hill 2021
Madeira 2021
Finneytown 2019
Lockland 2019
Sycamore 2019
Deer Park 2017
Norwood 2017
St. Bernard 2017
Reading 2015
Wyoming 2012
North College Hill 2007
Loveland 1998
Mariemont 2010
Cincinnati 2003
Mt. Healthy 2007
EVERY OTHER DISTRICT IN HAMILTON COUNTY HAS A PASSED A BOND ISSUE SINCE 1997
LAST NEW BUILDING
1997
Expedited Local Partnership Program (ELPP)�Other Districts that Have Participated in ELPP
OFCC
Timeline & Next Steps
Sample Timeline�Assuming a May, 2025 Election�* 2025 Election Dates to be Determined
Board Mtg
1997 Bond Issue
Millage Option
* Mar/Apr Bd Mtg
BOE passes resolution
2025 bond issue date
* Required for OFCC to begin Assessment
OFCC District Wide Bldg Assessment
& Enrollment Study
Starts
Meeting with OFCC
Master Plan Discussion
Board Passes Resolutions to Run a Bond Issue
Election Day
OFCC District Wide Bldg Assessment
& Enrollment Study
Completion
&
---------------------------------------------------------------
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2024
2025
COMMUNITY ENGAGEMENT
Sources
Open Discussion on Next Steps