On Monday, the Nevada School Board voted to put the Cub Stadium project out for bids, and also voted to proceed with the process to get approximately $4,635,000 in bonds for the project.
Although the exact amount is still to be determined, the type is school infrastructure sales, services and use tax revenue bonds. Basically, the bonds would borrow against the district’s future revenue from the state sales tax.
The board decided to put the entire project up for bid, although board members could decide to accept bids on just part of the project. On Feb. 11, bids are scheduled to be available for contractors so they can start the estimating process.
There have already been several inquiries by contractors regarding the project, said Clint Jensen, of Story Construction and the construction manager on the project. "It’s a busy time for contractors, but there’s a lot of interest in this project," he said.
Representatives from StruXture Architects and Story Construction were present at Monday night’s meeting. They provided updates regarding the scope of the project that will be sent for bid.
The project includes the base plan, which involves new stadium seating, Spirit Store, new concession stand, new restrooms and new fencing. Estimated cost is $4.1 million.
There are also four alternate projects, which are separate but included in the bid package.
One alternate is for the construction of a wrestling room, which would be attached to the middle school at an estimate of $708,000.
The second alternate is for a team room, which would extend the Ag-Mech building at an estimated cost of $488,000.
A third alternate involves a gating system for the street that runs between the school building and the stadium. For pedestrian and student safety, the gates would allow one-way traffic through that area and would be restricted for official use, such as school buses.
Kody Asmus, middle school assistant principal, said there is a genuine concern for students who leave the school through the back doors and are immediately so close to traffic, which is sometimes going too fast.
Board member Tori Carsrud said that if bids for the gating system are too high to be covered by the revenue bonds, the district would need to find the funds available somewhere now that they know what a safety concern it is.
A fourth alternative that arose at Monday night’s meeting involves moving a water retention area. School board members were concerned that the current plan has the retention area located too close to the stadium entrance. Jensen said they will review the plan, look at alternatives and include them as an addendum to the bid packages.
According to a timeline in the school board packet, the estimated timetable is as follows:
On Feb. 17, Piper Jaffray will distribute details to prospective bond purchasers.
On Feb. 22, the Nevada School Board will have a public hearing for the stadium construction.
Construction bids will be opened March 8. On March 9, Piper Jaffray will review the bids from prospective bond purchasers.
On March 14, the school board will make the final decision regarding the construction bids, which they can approve or reject. At that meeting, the board will also take action to approve or reject the best bond offer.
At the School Board’s meeting on March 28, legal documents for the bonds will be executed. The transaction for bond proceeds is scheduled to close April 13.