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West Chester board approves parameters resolution for $55.5 million bonds to fund elementary renovations
Summary
The West Chester Area School District board on March 24 approved a parameters resolution authorizing the financing team to proceed with a 2025 general obligation bond issue of $55,500,000 to fund the elementary school renovation plan and consider partial refunding of 2014 bonds. The vote passed by roll call.
The West Chester Area School District Board of Directors voted March 24 to approve a parameters resolution authorizing the district’s financing team to pursue a 2025 general obligation bond issue in the amount of $55,500,000. The resolution directs the financing team to begin work to fund the district’s elementary school renovation plan and to explore a potential partial refunding of a 2014 bond issue.
The district’s budget staff presented recent forecast updates to the Property & Finance Committee in advance of the board vote. Finance staff reported $1,034,000 in adjustments to the 2024–25 expense projections that the administration said will be used to reduce the projected 2025–26 budget gap. The administration also presented an updated projection that showed an increase to 2025–26 expense projections of $444,000. During that discussion, staff noted illustrative tax‑rate impacts under current projections, saying “the county at the current time would have…a tax increase of 3.8%” and that “Delaware County would have a tax increase of 3.9%.”
The motion to approve the parameters resolution was offered during the Property & Finance Committee report and carried after a roll‑call vote. The roll call recorded the following votes as read into the record during the meeting: President Pamela Acqua — yes; Director Christie — yes; Director Dietrich — yes; Director Harmon — yes; Director Parkinson — yes; Director Walmsley — yes; Director Jo Nadel — yes; President Punt — yes. Director Frey was not present for the roll call. The board chair announced the motion carries.
Committee recommendations presented to the board also included planned capital‑project bid awards and a proposed update to delay removal of modular classrooms at Exton Elementary for one year because of increased enrollment, items the Property & Finance Committee said will return for further action as needed.
