Finance committee narrows bond priorities, forms ad hoc Isaac Bear study group

The New Hanover County Finance, Capital and Bond Committee spent its meeting reviewing and prioritizing 15 proposed New Hanover County Schools projects as part of preliminary planning for a potential bond referendum and related financing.

Committee members discussed capacity shortfalls, possible consolidations and the timeline for bringing a bond request to voters. Members emphasized that a single bond would not cover all projects on the list and that a multi-year plan and parallel financing options would likely be needed. The committee directed staff to collect members’ ranked priorities and said it plans to present consolidated recommendations to the full board.

Why it matters: The committee’s rankings will shape what the county asks voters to approve and how school projects are sequenced. Committee members noted the potential tax impact of bond debt service and the need to distribute benefits geographically to improve voter support.

Most of the meeting focused on choices among specific projects that could increase school capacity or replace aging buildings. Discussion highlights included RiverLights (a proposed elementary school on a donated 15-acre site), Mary C. Williams Elementary, Porters Neck Elementary, Pine Valley, Trask Middle School/CTE campus reconfiguration, New Hanover High School renovations and the Isaac Bear Early College facility.

RiverLights and Mary C. Williams: Several members and guests who worked on RiverLights’ earlier planning said the RiverLights site could accommodate a single elementary building whose capacity (about 650 students in past planning) might remove the need for a full rebuild of Mary C. Williams. Developer agreements and prior schematic work were discussed; speakers said schematic designs and a past design grant exist but funding was not secured in prior cycles.

Isaac Bear Early College: Committee members agreed Isaac Bear requires separate study because the campus sits on university property and because state funding and other partners affect options. The committee created an ad hoc group to study Isaac Bear and report back with recommendations. The group will include committee members plus a representative from the University of North Carolina Wilmington (UNCW) and district staff; members suggested the committee meet quickly because some design work will “sunset” if not acted on within a limited timeframe.

Trask/CTE, New Hanover High School and timelines: Members discussed building a new middle-school facility on the existing CTE campus and reassigning the current Trask building to Laney High School (as a freshman academy). New Hanover High School work was described as large, likely to be phased and disruptive to students if done while the campus is occupied; the committee expects a master-plan presentation to the board in July that will inform how that project is prioritized and phased.

Capacity, redistricting and footprint strategy: Several members urged the group to consider redistricting and repurposing older buildings rather than only adding new ones. Speakers noted county-wide enrollment trends and said increasing core capacities at specific sites could produce a net capacity gain without increasing the district’s number of buildings. Members also raised pre-K space and multipurpose-room deficits at older schools as items that affect daily operations.

Financing and voter strategy: County staff summarized rough debt-capacity and tax-rate implications: on a long-term, 20-year issuance, each incremental penny on the tax rate roughly corresponds to millions in annual principal-and-interest. Members discussed spreading projects over a 10–12 year bond plan, using multiple financing sources, and the need for a public education strategy before any referendum.

Next steps and ranking: Committee members were asked to individually rank the 15 projects; staff will tally the rankings and return a consolidated priority list. The committee scheduled follow-up work and asked staff to present more detailed cash-flow and phasing estimates tied to selected projects.

Votes at a glance - Motion to approve May 8 minutes: passed (voice vote). - Motion to approve the agenda as amended: passed (voice vote). - Motion to form an ad hoc Isaac Bear Early College study committee (membership described in meeting): passed (voice vote).