PROJECTS

District Office Expansion

The Need

The District Office building was originally constructed in 1989 with an addition in 2007 provided by bond premium funds. Since the 2007 addition, our student count has increased by more than 4,500, and the number of central support staff (i.e., instructional support, technology, finance, human resources) has increased to accommodate those additional students, school staff, and campuses. The expansion will provide adequate working conditions for staff working to support districtwide functions.

The Process

Funding for this project was provided through the 2022 Bond program contingency fund balance — comprised of premium, interest, and project savings — and was approved by the Bond Oversight Committee in August. We worked to ensure that all of the projects outlined to voters are under contract and progressing as expected before spending program contingency funds. The Bond Oversight Committee also prioritized the use of program contingency funds on direct-student-impact projects first, totaling an estimated $20,600,000. By law, contingency funds have to be used in a defined time period and on capital projects.

Highlights

The Weld RE-4 School District’s central office will relocate to temporary locations from February 10 to December 31, 2025, to accommodate a renovation of the building. During construction, the following protocols will be in place:

In-person Assistance — In-person assistance, as well as the Employee Services Department and Business Services Department, will be located at the modular building on the East side of Tozer Primary School (501 Oak St., Windsor) as of February 12. In-person assistance will not be available February 10 - 11.
Meetings / Appointments — Locations for meetings / appointments with central services staff may have changed. Please connect with the staff member to confirm the location and check-in protocol.
Deliveries — Only deliveries addressed to the Technology Department will be accepted at 1020 Main St., Windsor.
Mail — Mail can still be addressed to 1020 Main St. Our internal delivery system will reroute, as needed.
Phones — All phone numbers will remain the same.
Posting Location — There will be a dedicated posting location outside of the construction zone at 1020 Main St. for legal postings. All postings will also be distributed on our website.

Location

Impact

Expansion to provide adequate conditions for staff working to support districtwide functions (i.e., instructional support, technology, finance, and human resources)

Est. Costs

$15 million total budget
$12,036,948 construction guaranteed maximum price
$2,963,052 soft costs

Documents

Est. Timeline

Construction Start: Spring 2025
Completion Date: Winter 2025

Status

Construction underway
Architect: Huckabee
CMCG: Fransen Pittman

FAQs

Q: Why is this expansion needed?

Since the 2007 addition of the District Office, our student count has increased by more than 4,500, and the number of central support staff (i.e., instructional support, technology, finance, human resources) has increased to accommodate those additional students, school staff, and campuses. The expansion will provide adequate working conditions for staff working to support districtwide functions. Staff are working two to three people in most offices intended for one person, with some in converted closets or hallways.

Q: How is this project being funded?

The District Office building was originally constructed in 1989 with an addition in 2007 provided by bond premium funds. In similar fashion, the Bond Oversight Committee recommended to the Board of Education that 2022 Bond program contingency funds — comprised of premium, interest, and project savings — be used towards this project. We worked to ensure that all of the projects outlined to voters are under contract and progressing as expected before spending program contingency funds. The Bond Oversight Committee also prioritized the use of program contingency funds on direct-student-impact projects first, totaling an estimated $20,600,000.

Q: What is premium and interest?

Bonds are a lending tool that school districts — with voter approval — can utilize to finance capital projects and related expenses. Bonds are issued on the open market and sold to investors. Similar to a home loan, investors are paid back with interest over time. If a bond issuer is considered a worthy investment, investors may purchase bonds for more than the asking price. The difference between the asking price and the purchase price is “premium.”

Districts can invest bond funds and capture additional funds via earned investment interest rates while the funds are held until used. How much the district can make on interest investments is highly regulated through the Internal Revenue Service (IRS). When the bond proceeds earn a higher yield than the bond’s interest rate, a school district must make an arbitrage rebate payment to the IRS.

Q: If you received a premium, did you ask for too much money from voters?

No, we requested the amount of funds needed to complete all of the projects outlined to voters. Because bonds are sold on the open market, there is a risk that investors will pay less than the amount asked or more than requested. There is never a clear understanding of what, if any, premium, a school district may receive on their bonds at the time of sale.

Q: Why can’t we use these funds on teacher salaries or student curriculum? Why can’t we save these funds for future projects?

By law, contingency funds must be used in a defined time period and on capital projects. The IRS requires 85% of tax-exempt proceeds to be spent within three years, and all of the proceeds must be spent within five years.

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