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Posts Tagged Measure G Bond

Peralta Saves Taxpayers $5 Million with Bond Refinancing

1 July 2020

Oakland, CA – In the latest demonstration of financial stewardship by the Peralta Community College District (PCCD), the District has sold General Obligation bonds from bond measures passed in 2006, 2009, and 2018 to finance capital projects throughout the district while saving taxpayers $5.1 million in reduced debt service.

In April, the District successfully sold $115 million of general obligation bonds authorized by the voters of Alameda County in the election of 2006 (Measure A) and 2018 (Measure G) at a much lower rate than what was promised to taxpayers, successfully minimizing any added debt.  Soon after, the District refunded $22.9 million of its series 2009 (Measure E) bonds to generate $5.1 million in debt service savings for taxpayers. Like the district’s new money issuance, the refunding bonds received high ratings of AA- from Standard & Poor’s and AA by Fitch Ratings.

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This was made possible by the careful planning, successful marketing strategy, and expert monitoring of market conditions by the District and its financing team.

“We’re pleased to save the taxpayers over $5 million dollars while fulfilling our mission to deliver educational services and programs that enhance the region’s human, economic, environmental, and social development. This latest success wouldn’t be possible without the leadership of Dr. Carla Walter, Vice Chancellor of Finance and Administration, who led a team of financial advisors, bond counsel, bankers, underwriters, and more to make this savings for taxpayers possible,” said PCCD Chancellor Dr. Regina Stanback Stroud. “We continue to be grateful to the people of Alameda County for making capital improvements of the Peralta Community College District a priority.”

Bond funding is being used to support the District-wide facilities master plan, which includes renovating aging classrooms, building new science and technology labs, and modernizing facilities that are decades old. This will provide all of the students who attend Peralta Colleges with the first-rate educational environment they deserve. To learn more about the different capital projects underway at Laney College, College of Alameda, Berkeley Community College, and Merritt College, please visit build.peralta.edu.

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Peralta Bond Project Outreach Program

12 June 2020

The Peralta Community College District is sincerely thankful for the generosity and support of the citizens of Alameda County. We are actively building the new Peralta our community deserves.

In fulfilling this vision for a new Peralta, the district is committed to making sure the process has a direct, positive impact on the community and economy. It is district policy to work towards at least 25% small local business participation in capital improvement projects.

To achieve this goal, the district held a community outreach forum sponsored by AECOM (the company helping manage district bond projects). Emails were sent to hundreds of vendors and the event was publicized on social media along with advertisements in six local newspapers

More than 120 people attended representing businesses interested in working on the bond project. This is the first of several such events; the district will continue to reach out to local community vendors, providing them the training and tools to bid be a part of this tremendous opportunity.

After an initial presentation by AECOM describing some of the upcoming projects, there was an extensive question and answer period that allowed panelists to answer over 75 questions during the workshop. Attendees voluntarily answered online survey to provide crucial information about their firms. The feedback provided will allow for data collections on firms’ ownership ethnicity, business experience, and interest in technical assistance support related to the bond program.

A new Auto and Diesel Technology building at College of Alameda, a replacement for the Horticulture building at Merritt College, Berkeley City College expanding into a new, additional building, a new Library Learning Resource Center at Laney College: these are just some of the many projects in various stages of planning. There are opportunities to provide architectural services, civil/structural engineering, records management and inspection, surveying, information technology, landscape architecture, hazardous materials disposal and more.

Go to Build.Peralta.edu to catch a glimpse of the exciting future and to find out how we can help make it a reality together.

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Peralta Community College District selects AECOM for bond program management services

12 February 2020

AECOM will oversee Program Management Services for Alameda County Bond Measures A and G on behalf of the District and the four Peralta Colleges

OAKLAND, Calif. (February 6, 2020) – On February 4, 2020, at its regularly scheduled Board meeting, the Board of Trustees of Peralta Community College District (PCCD) approved an agreement with AECOM Technical Services, Inc. for full program management services overseeing the completion of Measure A and the anticipated duration of Measure G. AECOM is a premier infrastructure firm, partnering with clients to solve the world’s most complex challenges and build legacies for generations to come. With their Northern California headquarters here in Oakland near Lake Merritt, AECOM is local and very supportive of area small and minority owned businesses, both factors (among many others) that contributed to their selection.

AECOM will be providing program management services for numerous bond projects on behalf of the Peralta District. During the election of November 2018, Northern Alameda County voters overwhelmingly approved Measure G, the District’s $800 million bond proposal to facilitate improvements to facilities and new construction.

Dr. Regina Stanback Stroud, Chancellor at the Peralta District, expressed her gratitude to voters saying, “The District is indebted to the Alameda County community for its massive support. We are grateful for the continued hope and trust the community has placed with us in our mission to provide accessible, high-quality higher education, career training and work force development. We are creating opportunities for students and changing lives for the better thanks to Alameda County voters.”

The District remains committed to delivering an exceptional return on investment. The bonds will bring much-needed improvements to Peralta colleges, allowing the District to address several priorities over the next five years and better serve our multicultural communities.  Building projects include development at each of the four Peralta Colleges:

  • An additional multi-use classroom building for Berkeley City College
  • New Center for Liberal Arts, Diesel and Automotive Technology replacement building, a new Science and Administration Building at College of Alameda, plus a new College of Alameda Aviation Center at Oakland Airport
  • New Child Development Center and Horticultural Center at Merritt College
  • Extensive development at Laney College including a Locker Room renovation, Laney Theater renovation, new Learning Resource Center and Library, and new Science Center
  • Plus infrastructure improvements for health and safety, accessibility, and sustainability to existing facilities at all four campuses

AECOM will provide program management services, including program kick off services, which will allow the District to continue the activities of Measure A and the start-up and management of Measure G.

The program manager will be responsible for setting up appropriate fiscal and purchasing controls, tasks such as drafting Board documents, creating presentations for the internal and external community, creating a vendor database and outreach program, updating the bond website, writing reports for the Board of Trustees and the citizen’s Bond Measures Oversight Committee, and other interested parties; oversee the creation of, and implement design and sustainability standards; create, review and update the bond spending plan and program schedule, and coordinate the activity of separate campus-based design and construction managers.

Dr. Leigh Sata, Vice Chancellor of General Services at Peralta, said, “We’re thrilled to be partnering with AECOM to provide program management services for Peralta’s bond projects. The AECOM team brings an incredible amount of experience and proven success in delivering complex building projects. They will work in parallel with the existing team at Peralta, allowing the District to accelerate its work on these exciting bond projects.”

A selection committee consisting of faculty, classified staff and administrators from across the District reviewed proposals from seven different firms.  Based on their experience and interviews with the selection committee, AECOM was deemed the most qualified vendor to perform this work.

Studies show that higher education plays a key role in the vitality of a community. The Peralta Colleges strive to be a partner to community, other segments of education, business, government and industry. These bond projects will provide much needed facilities for students and faculty, create jobs for local businesses and workers, and create high quality educational opportunities including pathways to degrees, certifications, transfer, and career technical education for the community.

Filed under: Announcements, Peralta News, Press Release. Tagged: , ,

District Seeks Additional Volunteers for Citizens’ Oversight Committees

25 October 2019

The Peralta Community College District (PCCD) is seeking district residents to serve on its Measure G Citizens’ Bond Oversight Committee and the Measure E Citizens’ Parcel Tax Oversight Committee.

During the election of Nov. 2018, Northern Alameda County voters overwhelmingly approved Measure G, the District’s $800 million bond proposal to facilitate improvements to facilities and new construction. Voters also approved Measure E, extending the current $48 per parcel tax to supplement funding for core academic programs at the Peralta Colleges, which include Berkeley City College, College of Alameda, and Laney and Merritt colleges in Oakland.

The District is indebted to the community for its support and grateful for continued confidence and trust in our mission to provide accessible, high-quality higher education, career training and work force development.

The Peralta Community College District is committed to responsible stewardship of all bond and parcel tax funds. Measures G and E adhere to all accountability standards governing the management of these programs. Two separate Citizens’ Oversight Committees, comprised of members of the community, will provide bond and parcel tax oversight, reviewing all expenditures to ensure alignment with the ballot text.

Open recruitment for the two new oversight committees took place earlier this year. That recruitment period resulted in the Board of Trustees selecting the first cohort of members to each committee at their September 22, 2019 meeting. But additional members are needed for each committee so the Trustees voted to re-open the application period.

Pursuant to state law and the Bond Measures Oversight Committee Bylaws, the Bond Committee shall have at least seven members.  The members of the Committee need to include one member who represents each of five categories as well as two at-large members. As of today, October 25, 2019, we have 7 total members (the minimum required) but are missing representation from one of the five categories: a Community College Supporter (Advisory Council or Foundation). So we need one (1) more member for this committee filling that Community College Supporter role.

The Parcel Tax Measures Oversight Committee Bylaws indicate that the Committee is to consist of at least seven members.  The Trustees appointed five (5) members at their September 22 meeting so we need two (2) more members for this committee.  These are all at large memberships with no specific representation required.  

If you know of any individuals that might be interested in serving on either committee, please encourage them to apply. The application for the Bond Measures Oversight Committee is available here.  The application for the Parcel Tax Measures Oversight Committee is available here. To apply, please fill out the application and email to Ms. Brenda Martinez, Assistant to the Chancellor and Board Clerk, at bmartinez@peralta.edu.

Candidates appointed to the independent, volunteer oversight committees review and report to the public on the District’s bond and parcel tax expenditures, respectively. Applicants must reside in the District’s service area, which includes the cities of Alameda, Albany, Berkeley, Emeryville, Oakland and Piedmont. Applicants may not be an employee, contractor, consultant or vendor of the District. Deadline for application submission is December 1, 2019.

Additional information and applications to serve on a committee may be found online at: https://web.peralta.edu/bond-reports/

With the passage of the bond issue, the District will address several priorities over the next five-to-seven years. Many new facilities will be built or refurbished, including a new library at Laney College and a new child development center at Merritt College.

About the Peralta Community College District

Founded in 1964, the Peralta Community College District (PCCD) is a collaborative community of colleges comprised of Berkeley City College, College of Alameda, and Laney and Merritt colleges in Oakland, Calif. The Peralta Colleges provide a dynamic multicultural learning environment offering accessible, high-quality educational programs and services, including two-year degrees, certificates and university transfer programs, to more than 30,000 students. PCCD is home to award-winning Peralta TV (Comcast ch. 27/28, AT&T ch. 99) and public radio KGPC 96.9 FM. To learn more about The Peralta Colleges, visit www.peralta.edu

 

Filed under: Peralta News, Press Release. Tagged: , , ,

  • Peralta Colleges

    Wednesday 15 July 2020
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