Lake Oswego board approves $235 million bond package to replace two oldest elementary schools, maintain tax rate

The Lake Oswego School District Board of Directors voted March 10 to approve the bond development committee's recommendation to place a $235,000,000 general obligation bond measure on the ballot as the final phase of the district's decade-long facilities plan.

The measure is structured to maintain the district's current total general obligation bond tax rate at roughly $2.90 per $1,000 of assessed value and would be sold in at least two tranches, with the first sale planned for spring 2026 and the second in spring 2029, according to district staff.

Why it matters: The bond package targets the district's oldest buildings and failing infrastructure, and aims to complete a three-phase plan that district officials say will leave the district with modernized facilities while avoiding an increase in the district's current bond tax rate. If approved by voters, the district plans to use the funds to replace Lake Grove and Forest Hills elementary schools, consolidate some administrative services, and address systemwide infrastructure needs.

District staff and committee members said the recommendation reflects more than a year of study and public engagement, including facility condition and educational adequacy assessments, real estate and walkability studies, bus-ridership analysis, two statistically valid voter polls and multiple community open houses. "This bond represents the final phase of our long-term facilities plan," Tony Vandenberg said in the presentation. "If approved, every school in our district will have significant improvements, addressing critical infrastructure needs and positioning us well for the future." (Tony Vandenberg, board presentation.)

Financial details presented to the board said the measure would maintain the existing total bond tax rate of approximately $2.90 per $1,000 of assessed value because an earlier bond will pay off in June 2026; the new bond would replace that levy. District staff estimated that for a property with an assessed value of $500,000 the first-year cost of the new bond portion replacing the expiring levy would be about $460. Staff also said the bonds would be repaid over a 25-year term.

Polling and turnout: The district's pollster surveyed 400 likely voters to produce a margin of error of plus or minus 5 percentage points at a 95% confidence interval; staff said roughly 40% of active voters (about 12,800 voters) typically turn out for Lake Oswego special elections.

Board discussion acknowledged public engagement and also flagged equity concerns about future phases for other schools. Director Aaron, who moved approval of the committee's recommendation, and members emphasized that the package includes projects at both high schools and repairs across the district while prioritizing replacement of the two oldest elementary campuses. Several board members and members of the public urged the district to plan next for additional high-school renovations.

Public comment: Dozens of patrons and parents spoke in favor of the bond and in favor of keeping Lake Grove on its current site, citing school condition, community use of fields, and the bond committee's process. Ally Reif, a bond committee member, told the board she supported the plan and the staff that helped assemble it. "We sharpened our pencils, worked with the budget, nailed down a package of projects supporting what this district needs most to provide quality education in safe schools," Reif said. (Ally Reif, public comment.)

What the board did: Director Aaron moved to approve the bond development committee recommendations as presented; Director Burns seconded the motion. The board voted in favor and the motion passed.

Next steps: With the board's approval the administration will finalize ballot language, continue public outreach, and prepare for the two-part bond sale if voters approve the measure in the special election planned for November 2025.