Greater Clark holds public hearing on bond plan for Charlestown High expansion as enrollment surges
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Summary
At a public hearing, district leaders presented a proposal to finance an expansion of Charlestown High School as part of a rolling five‑year facilities plan, citing rapid housing growth and projected student increases; officials said they do not plan to add taxes beyond current projections.
Greater Clark County Schools held a public hearing on a proposed bond financing package that would fund classroom and facility additions at Charlestown High School and other projects in the district.
The hearing focused on a worst‑case financing scenario of $50 million presented by Matt Shoemaker of Stifel, with district leaders explaining the expansion is meant to respond to rapid housing growth and projected student enrollment increases in the Charlestown attendance area.
The proposal matters because district officials said current school capacity is near practical limits and nearby residential development is expected to add hundreds of school‑aged children over the next five to seven years. Superintendent Buck Walter told the board the expansion would add roughly 18–20 classrooms (about 45,000 square feet), additional cafeteria and common space, restrooms and parking to accommodate projected enrollment.
“We don't plan on adding additional taxes to our community or to our taxpayers,” Walter said during his presentation about the district's long‑range facility work and financing approach.
District financial advisers gave specific parameters for public consideration. Matt Shoemaker of Stifel said, “Based on a $50,000,000 borrowing and 7%, the estimated total interest cost is listed at $43,301,145.” He also presented a maximum annual lease payment of $15,000,000 and noted the current 2025 debt service levy of $33,217,421 equates to a debt service tax rate of about $0.6874 per $100 of assessed value. Shoemaker cautioned that the “maximum tax rate impact” figure commonly quoted is a formula and does not account for future assessed value growth or other offsets.
District staff and advisers said the board would use a rolling financing strategy — borrowing only what is needed as projects progress — to limit interest costs. An attorney and the district's bond underwriter were identified as part of the financing team; Policy Analytics has prepared parcel‑level analyses for the district.
Superintendent Walter and others described the expansion as one piece of a multi‑year facilities program that has already included new and replacement schools (Parkwood, Pike, Charlestown) and other capital projects such as transportation and athletic improvements. Walter said prior planning studies and a community facilities task force shaped the district's priorities.
Public comments at the hearing included both support and concern. Resident Darren Riggs said he appreciated the district’s planning but voiced concern about taxes, saying, “As long as I can take your word that my taxes won't go up, and I'm like Tom. For some reason, my taxes are going up.” Tom Yigling provided public comment but did not request additional action.
Board procedure and next steps: the board held the first of two statutorily required hearings on the financing parameters; a second public hearing is scheduled as part of the formal approval process. At the meeting the board also advanced standard resolutions related to the financing process (form of lease amendment and reimbursement resolution) that the administration said are necessary to allow early project expenses to be reimbursed if bonds are issued later.
The district said the proposed classroom addition is intended to keep pace with growth and avoid temporary measures such as modular classrooms.
What’s next: a second hearing and a final vote on bond authorization and associated documents are scheduled as part of the board’s published agenda; the district will continue to refine projected borrowing amounts and timing as market conditions change.
