January 8, 2024
Facilities Meeting: How and Where to build with the Remaining Measure M funds in SFID 3 and more funds issuances?
To All Certificated Staff,
Tonight the FCUSD Board held a Facilities Meeting. There was a presentation to address where the need is to build the next school in SFID 3, but more importantly how are all the schools going to be built (How are the costs going to be covered?)?
A little background: Measure M was passed in 2007. So, in the last 16 years the tax liability has been in Rancho Cordova at a rate of $78 to $206 (2007 - 2024). Folsom Ranch has contributed for the last three years (most in the last two years). The district office was completed in 2012; which is the only construction built in Rancho Cordova. The Folsom Ranch area will see two completed elementary schools by Fall of 2024.
Issues:
Where is the money coming from to build the school over the next 15 years?
Measure M can issue bonds up to Approx. 545 million, which would increase the tax rate to as high as 580 and 490 on the low side until the entire area is built out. This would be paid by all residents in SFID 3.
Where are all the schools to be built?
If you follow the students - then it makes sense to build in Folsom.
If you follow the idea, Rancho has paid for a long time for this bond, so a school is owed to the area.
If the chart is followed, most of the schools in Folsom will be built before the first new school is built in Rancho.
Click on the PDF above, look at the cost of these schools. The only schools that have been built with the bond money are the two elementary schools and possibly the proposed HS will be able to be built. Look closely at the chart - green = Folsom & blue = Rancho.
Next Steps: What are the Board’s wishes for the next steps?
Focus: How can we fund these buildings?
- Access the rest of Measure M funds, taking into consideration the tax rate?
- How much money has each city paid into the bond?
- Putting together a committee of both cities and the stakeholders of each city.
- Waiting on the feasibility study (to split the district) to see what the report states.
If the feasibility study, discussed at the Special Board Meeting on January 29, reports that this issue is not viable, either city can still choose to proceed with the process. I believe at this point the District would bow out and let whichever city proceed with what they feel is good for the city. Note: Even if the city passes a resolution that they want to split, the State can still say no (this has happened before in 2012). A lot of money spent with nothing to show for it.
- Elementary school in Rancho and a High School in Rancho Cordova? Or some other makeup of schools?
I will give credit to David Reed - he stated that he would not sign off on building a campus in Folsom again unless there is first a plan to build a school of some sort in Rancho Cordova. He felt it was only fair and the right attitude for all to take since the residents have been paying for the last 16 years.
If this is an issue that is dear to you, please get involved, go to the board meetings, and support your community. The next meeting that is related to this is January 29th. The results of the feasibility of splitting the district will be discussed and how does the district handle those outcomes?
Here is the link to the Presentation given by Sean Martin. https://simbli.eboardsolutions.com/Meetings/Attachment.aspx?S=36030240&AID=677877&MID=26366