DALLAS Capital projects funded by Houston Independent School District’s 2007 and 2012 bond programs are on schedule and within their cumulative $2.7 billion budget.
All the projects funded by the $805 million of general obligation bonds approved by voters in 2007 are on pace to be completed by the end of 2014, district officials said.
The 2007 program includes 22 new schools and almost 200 renovation projects across the district. Houston Independent School District is the largest in Texas with more than 210,000 students and 282 campuses.
More than 86% of projects funded in the 2007 program had been committed by the end of August. Two schools opened for the first time this year, with another one slated to open before the end of 2013.
The 2007 bond program focuses on elementary school additions and renovations.
Planning is under way on the $1.89 billion of projects in the 2012 program, approved by voters last November.
Forty schools, including 29 high schools, will be renovated, replaced, or built with proceeds from the 2012 bonds.
The Houston district has approved architectural contracts for 29 of the 2012 projects, including 24 schools, restroom renovations at middle schools, and district athletic facility upgrades.
The work funded by the 2012 bond authorization will be completed by 2020.
Houston voters approved $808.6 million of GO bonds for the district in 2002 and a $678 million authorization in 1998.
Houston Independent School District’s $2.1 billion of outstanding debt is rated AA-plus by Standard & Poor’s and Aaa by Moody’s Investors Service.
