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Board and county officials debate long-range capital plan, bond timing and debt capacity
Summary
Committee members discussed a multi-year capital plan (CIP), a district priority list estimated as roughly $550 million, and bond timing; county staff said current debt capacity is about $100 million and could rise to roughly $130 million next year, prompting discussion of staging projects and public messaging.
The New Hanover County Schools facilities committee spent substantial time on May 20 discussing a long-term capital improvement plan, a possible school bond referendum and how to present multi-year needs to the public.
“If we had a capital improvement plan, a CIP, that, you know, 1 year, 3 year, 5 year…we could all sit down,” a committee member said, urging a forward-looking plan that shows when projects would start and finish. Staff responded that the district maintains a two-year look-ahead and a running “laundry list” of projects that is used to prioritize work by need.
Committee members referenced a running estimate of roughly $550 million to address all identified facility needs across the district; board and county participants described that number as a long-term, multi-year total rather than an immediate ask. One participant said the full list ‘‘is where the list is’’ but acknowledged it is unrealistic to fund at once.
County finance staff described current statutory and policy constraints on debt. An official said New Hanover’s policy uses a per-capita debt metric of $2,200 per resident, which places theoretical debt capacity in the roughly $530 million range; with $430–$440 million currently outstanding, county staff said the practical remaining capacity is about $100 million. The official added that, depending on principal repayment and timing, capacity could increase to about $130 million by next fiscal year.
Committee members and staff explored options to make a bond ask more palatable: spreading the district’s $18.9 million annual capital request over three years, staging issuance of bond proceeds over time, and adding public education explaining why encumbrances and multi-year project timing can make it appear that the district “has money sitting there.” One commissioner suggested breaking up a large request into smaller installments so voters are not surprised by a single headline number.
No formal vote was taken. Committee members directed staff to develop a prioritized list of projects with estimated start and completion dates and to return with a more detailed timeline so the committee can determine which items should go forward in any bond referendum.
