HISD’s Bond Oversight Committee held its quarterly meeting on Tuesday, in which the panel received an update on bond projects from the first quarter.
Among the topics discussed were a review on how the district calculates capacity for schools, as well as information on M/WBE participation levels and financial reports. HISD staff said they were excited about the work that is underway, including foundation work and vertical construction, and said there is more to come.
The Bond Oversight Committee held its first meeting of 2015 on Tuesday, hearing an update on the bond program and the impact that soaring construction costs are having on HISD’s plan to build or renovate 40 schools.
Since 2012, when Houston voters approved the district’s $1.89 billion bond program, the district has seen an average 44 percent increase in building costs, from about $146 per square foot in 2012 to about $210 per square foot today.
HISD’s two building programs are busier than ever, but in very different stages.
The 2007 bond program is busy winding down so all original work is done by the end of the year. At the same time, the 2012 bond program is ramping up, with construction starting on all 17 schools in the first phase by the end of the year.
The next eight months of the year will be marked by much progress in the 2012 bond program, including the start of construction on all of the schools in the first group.
“We’re moving very quickly through our design phase,” said Daniel Bankhead, HISD’s general manager of Facilities Design. “This is an exciting time. We’re defining the character of the buildings.”
HISD’s Bond Oversight Committee met Tuesday to review the 2007 and 2012 bond programs in a gathering that included third quarter updates on finances, schedules, quality control and business outreach.
The nine-member committee meets every three months to monitor the district’s bond programs, ensuring that bond revenues are spent appropriately and the risks and controls of the bond program are evaluated.