Funding the Facilities Master Plan
The District’s Ten Year Facilities Master Plan (FMP) provides a blueprint for improving the learning environment for every student. It is designed to bring equitable learning spaces to all District buildings, address the rapid student growth taking place in the school district community, and improve the structure and amenities of the District’s older buildings. Every child’s learning experience should be unique to him or her, and the quality of this experience should not be dictated by the bricks and mortar encompassing the educational space.
Transformation does not occur instantaneously. Accomplishing the projects outlined in the nearly $347 million dollar plan requires a systematic approach executed with a high degree of fidelity. Complete transformation will take ten years at an average monthly cost of $2.2 million dollars for the District. Although a monumental task, this work is necessary to ensure the District’s focus remains on high quality teaching and learning rather than the physical structures in which education takes place.
Fully funding the implementation of the FMP through the phasing model will depend on the passage of a General Obligation (G.O.) Bond by the community. The specific size of this bond issue is determined by the projects slated to be completed in the second half of the phasing plan. Taking into account the other revenue sources streaming into the project, the bond issue, in present value dollars, is estimated to be approximately $192 million. The timing of the vote coincides with the final year of payments for the current G.O. debt, refinanced in 2012. Old debt, retired at this time, will provide maximum relief to the total property tax rate, and it will provide room within the levy for a portion of this potential new debt issue.