Transcript PRESENTATION NAME - Build with Purpose

What You Need to Know
About Facilities Development
Thursday, December 1, 2011
Presenters
Brian Keenan-BWP
Eric Felczak-BWP
Rachel Jones-NYCSA
Jill Norton-Enterprise Charter
Agenda
I. Overview Leasing/Owning
II. Site Assessment/Section
III.Costs/Financing
IV.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/Financing
The 100 sq ft rule
The $125/$275 rule
Not credit worthy
Equity
Free money
How to control costs
Design, Bidding & Construction
• 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?
Facilities Construction and
Legal Requirements
State
Prevailing Wage
Public Bidding
Not required
NY
No
MA
Yes
Yes
NH
No
No
RI
Yes
Yes
CT
Yes
Yes
(but many do)
Best Practices Examples
State
NY
MA
CT
Best Practice 1
Best Practice 2
Requiring Charters to Vendor Analysis for
Have Policies &
Equipment or
Procedures
Consulting
Best Practice 3
Improving Charter
School Leadership
Creating Positive
School Culture
through Character
Education
Using Community
Resources to
Enhance the
Teaching of History
Classroom
Differentiation
Student-Created
Goals
Social Programs
Highlighting
Important Social
Skills
Academic Growth
Monitored through
“Must Pass Policy”
Facilities Financing Options
Qualified School
Allows qualifying schools and/or
Construction Bonds
communities to borrow at little
(QSCBs ) and Qualified or no interest cost.
Zone Academy Bonds
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 Portfolio
Newark 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 Portfolio
Jersey 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 Portfolio
Teaneck 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.
www.bwpurpose.org
www.nycsa.org
www.enterprisecharter.org