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We can! We will! We are! TOGETHER!

Thank you cedar springs community for the support of our schools and students. Your Bond donations hard at work.

August 30, 2021 Bond update from Chris LaHaie, Chief Financial Officer

 
As summer comes to a close and the 2021-2022 school year quickly approaches, the first two projects of the $68 million School Building and Site bond projects are wrapping up as planned and ahead of schedule.  At Cedar Trails, all mechanical work has been completed and unit ventilators are in place to provide heating, cooling, and improved air purification to all of our youngest learners.  Final inspections and occupancy permits will be completed by the first week of August, leaving only a few days of cleaning and final detailing before teachers may begin preparing their classrooms for the new school year.

 At Cedar Springs Middle School, the new drives and entrances are complete, leaving just directional markings and landscaping left to be done as we approach three weeks until our students return.  We are extremely excited for the alleviation of past frustrations related to traffic congestion during drop-off and pick-up times at CSMS.

While the summer 2021 projects have been taking place, careful planning and preparation for the next construction phase has been occurring.  Next up will be Cedar Springs High School, which will begin a significant amount of attention through the construction of new learning spaces in addition to renovations of existing ones.  Beginning in September, contractors will start constructing eight new classrooms on the northwest wing of the building, as well as a renovation of the existing media center as it will become the main entrance and administrative offices.  This work will be taking place during the 2021-2022 school year, as well as a renovation of many existing classrooms.  Contractors are currently submitting bids for their work, with selections occurring in mid-August.  

July 2021 - Cedar Trails Elementary


All new units have been placed in classrooms with installation and programming completed the week of July 19. In addition, the school's office will be retrofitted with a verticle ventilating system. Units are being piped and connected as fabrication is complete and beginning to be delivered onsite. 
 
It continues to be a warm summer in Michigan, but come fall the students and staff at Cedar Trails will enjoy air-conditioned spaces when they return on August 23!

July 2021 - Cedar Springs Middle School


We are excited to have the curbs and sidewalk completed along with final gravel grading, topsoil for landscaping, and light pose bases set.  We are getting close to the finish of this summertime project, and are excited for the new drive to welcome students, parents, and staff back on August 23!
 
Bond Updates

Bond Updates

As summer comes to a close and the 2021-2022 school year quickly approaches, the first two projects of the $68 million School Building and Site bond projects are wrapping up as planned and ahead of schedule. At Cedar Trails, all mechanical work has been completed and unit ventilators are in place to provide heating, cooling, and improved air purification to all of our youngest learners. Final inspections and occupancy permits will be completed by the first week of August, leaving only a few days of cleaning and final detailing before teachers may begin preparing their classrooms for the new school year.
 
At Cedar Springs Middle School, the new drives and entrances are complete, leaving just directional markings and landscaping left to be done as we approach three weeks until our students return. We are extremely excited for the alleviation of past frustrations related to traffic congestion during drop-off and pick-up times at CSMS.
 
While the summer 2021 projects have been taking place, careful planning and preparation for the next construction phase has been occurring. Next up will be Cedar Springs High School, which will begin a significant amount of attention through the construction of new learning spaces in addition to renovations of existing ones. Beginning in September, contractors will start constructing eight new classrooms on the northwest wing of the building, as well as a renovation of the existing media center as it will become the main entrance and administrative offices. This work will be taking place during the 2021-2022 school year, as well as a renovation of many existing classrooms. Contractors are currently submitting bids for their work, with selections occurring in mid-August.
At the Middle School last week, most of our curbs and sidewalks were completed, with a significant amount of work on schedule to be completed this week, including:
  • Curbs and Sidewalk completion
  • Final gravel grading
  • Topsoil for landscaping
  • Light pole bases

This will set the stage for the first coat of paving to begin on July 26.  Even with the challenges of the rainy weather, we are running over a week ahead of schedule!
 
At Cedar Trails, all new units have been placed in classrooms.  Installation and programming will occur the week of July 19. In addition, the school's office will be retrofitted with a verticle ventilating system. Units are being piped and connected as fabrication is complete and beginning to be delivered onsite. Finally, the new boiler system pads will be poured any day in preparation for setting it in place in the coming weeks.
As we move into July, the bond projects continue to move on track for the summer.

At Cedar Trails, new classroom unit ventilators have been placed in the classrooms. On Friday, July 2 contractors started cabling and terminating at thermostats while electricians started to connect electrical. This work is set for completion by end of the week. In addition, piping for the new boiler is being fabricated in preparation for connection later this month.

At Cedar Springs Middle School, the weather has allowed contractors to continue the work pouring new curbs. All underdrain and basin installation is complete. Our excavators are now re-shaping the southern parking lot. Electricians have completed the rough-in for all new light poles, and topsoil is now being placed in areas where curb and sidewalk work is complete. We will be planting grass seed soon!

Continue to check back for more updates!

We have started seeing a lot of progress on our summer bond projects during the first two full weeks of summer!

With Cedar Trails Elementary School closed, our summer projects were able to safely shift to full capacity. Contractors have removed and demolished old classroom unit ventilators and pulled cables for the new equipment. In the classrooms, you can see the places where old unit ventilators were located have been thoroughly cleaned in addition to the louver openings (see photos under Cedar Trails below). The new unit ventilators installation will be completed in each classroom by the end of June. Additionally, the new chiller has been set in place. Next, contractors will be pouring pads for the boilers and pumps.

At Cedar Springs Middle School, the milling of the old parking lots and driveways have been completed, along with demo of light pole bases, sidewalks, and curb wrapping. Piping and underdrain, grading, and prepping for new curbs and sidewalks were all completed this week as well. The pouring of new curbs began on Thursday, June 24th, and will continue into early next week. The entrance to the new parking lot connecting to Northland Drive will be poured very soon.

The progress of our first two bond projects is running at or ahead of schedule, and is extremely exciting to see unfold!

On May 11th, sale of the Cedar Springs Public Schools School Building and Site Bonds (the "2021 Building Bonds") as well as the 2021 Refunding Bonds (Federally Taxable) (the "2021 Refunding Bonds") was completed. The 2021 Building Bonds are being issued to finance capital improvements to the school district, while the 2021 Refunding Bonds are being issued to refinance a portion of the outstanding debt the district currently has for previous construction bonds.

As a part of the bond sale process, the Cedar Springs Public Schools bond rating was reviewed by S&P Rating Agency. Good news was received as the District received the strong bond rating of "A+". This is a compliment to the District's financial/management practices. The District also received a bond rating of "AA" for participation in the Michigan School Bond Qualification and Loan Program.

The District had great news concerning the total dollar amount to be deposited into the construction bank account to fund District capital improvements. The bond pricing, as well as the bond issuance costs incurred, came in $341,980.74 higher than what was budgeted. As a result, CSPS will have $32,152,849.74 to use toward the first series of capital improvements.

The total debt service for the 2021 Building Bonds also came in under estimate. The estimated total debt service (principal and interest) was $62,501,237.50. The actual total debt service is $44,072,404.44 for a total favorable variance of $18,428,833.06. This will allow the District to repay the debt related to these new bonds nearly four years earlier than previously anticipated, ultimately savings tax payers this incredible sum of money.

The 2021 Refunding Bonds, which were sold to "refinance" $2,972,037.71 of existing debt, will save Cedar Springs tax payers immediately. These bonds were sold at interest rates ranging from 1.02 - 1.56%, significantly less than the 3.00% the debt was being repaid it. We estimate this will save $260,987 in future tax collections.
On August 4, 2020, our community voted and approved a 30-year, $68 million bond proposal to improve the Cedar Springs Public Schools District. Due to COVID-19, we encounter delays in our original schedule. We are excited to finally start our progress in May 2021. We will continue to update you with our progress online and through various community communication outlets.