May 14 Quarterly Update on 2019 Bond Projects

The following is a quarterly status report on bond projects for the Tarrant County College 2019 bond package. You can watch the previously recorded video presentation of the quarterly bond project update from May 14, 2020, or visit the TCC 2019 Bond page for additional information.

Updates on this page include:

Northwest Campus Construction

  • Architect and contractor: In place
  • Schematic design: Nearing completion and moving to detailed design
  • Programming evaluation: Underway; focusing on adjacencies, learning commons and onboarding

Tentative Construction Schedule


  • WHPE Building
  • WBSA Building


  • 2A-1 Building
  • 2A-2 Building


  • 2B-1 Building
  • 2B-2 Building
  • WACB BuildingMap of Northeast Campus containing the proposed construction dates over the buildings.

Southeast Campus Construction

  • Architect and contractor: Architect in place; solicitation for contractor anticipated in Summer 2020
  • Schematic design: Preliminary design underway

Infrastructure Projects


  • Power system upgrades
  • Water/sewer and other utility upgrades
  • Data telecom upgrades


  • Emergency power system upgrades
  • Drainage improvements

Principle Projects


  • Welding labs
  • Active learning academies
  • Formal learning environments
  • Wayfinding consultation RFQ

Next Steps for Principle Projects

  • Principle panels develop criteria for student onboarding, learning commons, etc.
  • Leadership further defines projects and schedules

MWBE Outreach

  • SKANSKA vendor outreach sessions scheduled in 2020, with one completed.
  • Owner’s representative to develop TCC Bond Vendor Portal to announce contracting opportunities, outreach, and project timelines coordinating with project teams.
  • Will hold Minority Chamber/TCC co-hosted events for specific scopes.

Current Results

  • Anticipate 35% commitment for owner’s representative.
  • Established a 25% commitment for SKANSKA with 30% stretch goal.

Sized at $300 million in order to:

  • Meet cash flow needs
  • Retain flexibility amidst revenue uncertainties

Economic conditions suggest interest rates will remain low for future issuances.

Annual debt service payments would:

  • Have 20-year maximum maturity.
  • Be based on all-in True Interest Cost (TIC) of 3.1%, which is conservative.

Max annual debt service of $20,071,050 beginning Fiscal Year 2021.

Tax Rate and Source of Funds

TCC anticipates this will equate to approximately one penny on the tax rate (current total rate is $0.13017/$100).

Source of funds include:

  • Reserved $12,623,941 in FY2020 operating budget for future capital/debt service.
    • Current year funds may be used to fund debt service fund reserve.
    • Future budgets will allocate debt service payments beginning in FY2021.
  • Portion of $27,309,920, historically transferred to Renewal and Replacement Fund for cash-funded capital, will be re-allocated for debt service.

Next Steps

TCC will:

  • Issue order to sell bonds and delegate authority (May)
  • Authorize initial contract for owner’s representative (June)
  • Debt sale/closing (June/July)
  • Set interest and sinking tax rate for FY2021 (August)