The Lake Park Audubon ISD has an opportunity to complete building projects with a significant amount of federal assistance.  The District's requests for $17.35 million in Qualified School Construction Bond (QSCB) authority and $1.69 million Qualified Zone Academy Bond (QZAB) authority have been granted by the Minnesota Department of Education (MDE).

The Lake Park Audubon Board of Education received official notification from MDE in a letter dated March 25, 2010.  MDE indicated the school district's applications met the selection criteria established by the department.  MDE had over $250 million in requests for QSCB authority and an allocation amount of approximately $160 million.  According to MDE press releases, only 21 MN Districts were granted authority through the application process.  Financial assistance of this magnitude will probably never again be available to LPA.

  To utilize the bonding authority, Lake Park Audubon residents will be asked to support the $21,105,000 Building Bond Referendum set for May 25, 2010.  If voters do not support the proposed project, the bond authorization will be awarded to other applicants and Lake Park Audubon will miss out on an enormous financial opportunity.

How will the District Use QSCB and QZAB Authority?

  Voter support on May 25, 2010 will allow the District to issue bonds totaling $21,105,000 to be used for the proposed projects.  The District is essentially borrowing the amount to be paid back over a 17 year period.  The benefit of the QSCB and QZAB programs is that the interest rate for the authorized portions of $17.35 and $1.69 million is projected to be 0%.  The interest rate on the remaining bond portion of $2.065 million is projected to be 4.15%.

  The proposed project will be completely paid for over the 17 year period.  By taking advantage of QSCB and QZAB authority, the interest saved in comparison to the November 4, 2008 projection is over $10.5 million.  

Project Proposal

The Lake Park Audubon Board of Education has evaluated facility alternatives over the last six years.  To gauge community perception, they gathered information through focus groups, open meetings, small group discussions, and private conversations with community members.

Multiple options including various levels of new construction, renovation, and repair were examined and a cost analysis for the Country Furniture building was completed.  Community input, cost analysis, and MDE's Guide for Construction Projects indicate the proposed project is the most feasible.  This bonding proposal provides an opportunity for the District to save millions in repair, renovation, and new construction costs. 

The proposed project includes a new 7-12 building on a donated site in Lake Park and some demolition, new construction, and partial renovation of the PK-6 building in Audubon. 

The most critical issues of heating, ventilation, accessibility, and the need for additional instructional spaces will be addressed at the elementary.  The elementary plan includes construction of four new classrooms, new storage areas, and a new boiler/mechanical room.  The existing shop area will be renovated into three new classrooms, and two sets of restrooms will be added.  The boiler will be replaced and heating & ventilation will be upgraded for the entire building.  Handicapped accessibility issues will be addressed, and new furniture will be purchased.  The 1922 building will be demolished to make room for additional off-street parking and a new entrance away from the bus loading area.

The high school plan provides for a new building, new equipment and furniture, parking lots, outdoor physical education spaces, a football field, and parking lots. 

How will Additional Information be Made Available?

I nformation will be provided by mail to residents of the School District and updates will be posted on www.lakeparkaudubon.com.

  Two public informational meetings are scheduled to begin at 7:00 PM:

Monday, April 26   High School Theater in Lake Park

Thursday, May 6   Elementary Building in Audubon