Long Range Facilities Master Plan to be Adopted
Per Oregon statute, districts with enrollments above 2,500 students are required to have a school facilities plan that covers a period of 10 years. The plan must include enrollment projections, objective criteria for assessing school capacity, characteristics of facility sites, physical improvements for existing facilities, alternatives to construction and renovation, projections for site acquisitions, and financial strategies to meet the district’s facilities needs.
The Corvallis School Board is preparing to vote on a final Long Range Facilities Master Plan at the January 11, 2018 meeting. Staff will be requesting approval of the Superintendent’s recommended plan which significantly reflects the Long Range Facilities Planning Committee plan.
Board Resolution for Bond Measure to Fund Facility Improvements
While the district can leverage general funds, construction excise taxes, seismic rehabilitation grants, and state matching funds to complete capital improvement projects identified in the plan, significant facility upgrades require voter approval to finance projects through the issuance of general obligation bonds.
Full funding of the capital improvement projects identified in the Long Range Facilities Plan would require approximately $206 million, or a projected levy rate of $2.02 per $1,000 of assessed value, if financed through the issuance of voter-approved general obligation bonds. The average levy rate since the last bond measure was approved by district voters in November 2002 is $1.64 per $1,000 of assessed value.
Board Decision Points for January 11, 2018 Meeting
Once the Long Range Facilities Master Plan is approved, the board will discuss various funding levels and will set a total project cost for a bond measure. The adopted resolution will indicate the amount to be referred to district voters on the May 15, 2018 ballot.
The agenda and materials for the January 11 meeting are available on the web at https://tinyurl.com/csd-january11boardmeeting