Alamo Colleges' Construction on Target - Plus Nearly $10 Million in Savings, $27 Million in Interest Generated


In November 2005, San Antonio area citizens approved a $450 million bond package to construct new Alamo Community College facilities and renovate existing buildings.

Today, construction is right on target, with all new construction expected to be completed in August, said James N. McLaughlin, vice chancellor for finance and administration at the colleges.

“And to further accentuate the good news,” said McLaughlin, “through the combined efforts of our facilities management staff and consultants, Alamo Colleges has realized nearly $10 million in savings on the cost of the projects.”  According to McLaughlin, contractors for the various projects worked under a Guaranteed Maximum Price (GMP) system, which measures the difference between the contractor’s actual costs and the GMP they previously submitted.  

The newest Alamo Colleges entity, Northeast Lakeview College, realized cost savings of $4,116,533 working with commercial contractor Austin Commercial, L.P.  Savings at San Antonio College totaled $2,713,780.  The contractor was Vaughn Construction. Northwest Vista College savings totaled $2,150,000 with commercial contractor Bartlett Cocke, L.P.   Savings of $488,588 were Alamo Collegesomplished at Palo Alto College with commercial contractor Spaw Glass Construction.  The grand total of savings was $9,468,901, which Alamo Colleges will apply toward completion of remaining projects, said McLaughlin.

BONDS EARN $27 MILLION INTEREST

According to Alamo Colleges Chancellor Dr. Bruce H. Leslie, the bonds have additionally generated $27 million in interest revenue through December 31, 2008.  “Since the capital improvement projects have been staggered over a period of three years, bond monies that have not been in active use have earned an additional interest of more than five percent.  Together with the construction savings, there is now nearly $487 million available for new and improved facilities,” he said.

Denver McClendon, chairman of the Alamo Colleges Board of Trustees, expressed satisfaction on its high-level performance.  “It’s no accident that there have been savings on the capital improvement projects,” he said.  “Bexar County students and citizens will reap the benefits of the rigorous fiduciary diligence of the Alamo Colleges Board of Trustees and the outstanding work of staff and its partners.”  

WHAT THE BOND PROJECT IS Alamo CollegesOMPLISHING

The bond project financed construction of the Alamo Colleges’s new Northeast Lakeview College, which opened in fall 2008 at its new location near Loop 1604 and Kitty Hawk Road. This included site development, building the base campus and setting up a utilities infrastructure.  It also enabled an upgrade of the Alamo Colleges’s information technology capabilities with district-wide connectivity, a cyber information technology center and an infusion of resources to its distance learning and electronic communications systems.   

At the other four colleges, the bond project has financed a number of new buildings, Among them, with their completion dates, are:

San Antonio College—Nursing and Allied Health Complex (fall 2008); Parking Garage (spring 2008); Academic Complex (fall 2008)

St. Philip’s College—Center for Health Professions, Learning Resources and Welcome Center (spring 2009); Diesel Technology Laboratory at Southwest Campus (spring 2009)

Palo Alto College—Convocation Center (spring 2009); Veterinary Technology Building (spring 2008); Science and Workforce Center (fall 2009)

Northwest Vista College—Academic Building (fall 2008); Theater and Fine Arts Complex (fall 2009); Library/Learning Center (fall 2008); Commons Building (spring 2009); Science Building (spring 2009)

At The Alamo Colleges, high quality education and low costs provide exceptional value to  students and alumni, who are major contributors to the economy and culture of our community. For more information, visit our website at www.Alamo Collegesd.edu.