This measure would allow St. Vrain Valley School District (SVVSD) to borrow $739,800,000 to:
- Build five new schools: a Montessori School in Longmont, a high school and career and technical education (CTE) center in the Erie/Tri-Town area, a PK-8 school in Mead and an elementary school in Erie. Longmont’s Innovation Center will also be expanded.
- Build nine AGILE centers (Advanced Global Interactive Learning Environments) that allow students to virtually attend classes at any of SVVSD’s schools.
- Complete 33 roofing projects and 109 other critical infrastructure projects at existing schools and facilities, including electrical, plumbing, and safety and security upgrades.
- Replace more than 100 HVAC systems.
- “Repurpose and refresh” 95 educational spaces and classrooms.
See a map of proposed projects with more detail at svvsd.org/proposed-2024-bond-initiative/
Money from bond measures can only be used for capital projects, not operating expenses, just as state funding for students can’t be used on construction — that’s why SVVSD is asking voters for permission to borrow this money.
How much will taxes go up?
They won’t — this is a bond, so the tax rate is not increasing.
However, if this measure doesn’t pass, taxes will go down a bit due to the district paying off previous bonds. The decrease would be about $60 per $100,000 of assessed home value, according to Terry Shueler, chair of the Citizen Campaign Committee advocating passage of this bond.
So owners of a home worth $1 million would save about $600 per year total if the bond fails. The decrease would be spread over four years.
“Taxes will go down if this doesn’t pass,” Shueler said at a recent event. “Eventually, but not overnight.”
Other things to consider:
- Some of this work will need to be done eventually, the district says. An estimate provided by SVVSD shows that waiting five years could cost an additional $200 million due to rising costs. If the measure fails, “our schools will be falling apart and overcrowded,” Schueler said.
- The district is growing: At 33,000 students — including 550 who technically live in Boulder Valley School District — it’s larger than BVSD. Enrollment is projected to continue increasing over the next decade, according to district officials. The eventual buildout funded with this measure would have capacity for 70,000 students.
For more info and an excellent explainer of school funding, read: bit.ly/SchoolFundingCPR