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Lake Oswego board approves bond development committee recommendation to seek $235 million bond, maintain tax rate
Summary
The Lake Oswego School District board approved the bond development committee’s recommendation to place a $235 million general obligation bond on the November ballot that would replace two aging elementary schools, fund districtwide repairs and keep the district's overall property tax rate near the current $2.90 per $1,000 of assessed value.
The Lake Oswego School District Board approved the bond development committee's recommendation on March 10 to refer a $235 million general obligation bond measure to voters that, if passed, would fund replacement of Lake Grove and Forest Hills elementary schools, central office improvements and districtwide infrastructure work while aiming to keep the total property tax rate roughly unchanged.
The bond package, described to the board by Tony Vandenberg, would pay for the final phase of a multi-stage facilities plan and is structured to be sold in two tranches (about half in 2026 and the remainder in 2029). Vandenberg said the proposal was designed to maintain the district's existing total bond-related property tax rate of approximately $2.90 per $1,000 of assessed value by offsetting new debt with the payoff of an earlier bond in June 2026.
Why it matters: The proposal addresses the district's oldest schools and central office facilities. District staff argued replacing the schools is more cost-effective than major remodels, and that the plan limits boundary disruption compared with an alternate scenario that would have reopened Uplands as a school and required wider boundary changes.
Key details presented to the board included: - Total proposed bond amount: $235,000,000. - Primary components: replacement of Lake Grove and Forest Hills elementary schools at their current sites, renovation or replacement of central office and facilities operations buildings, and improvements to every school in the district. - Tax impact framing: The district presented a model showing that for a home with an assessed value of $500,000 the first-year levy equates to about $460 (this reflects assumptions described by district staff about assessed-value growth and bond structure). District staff emphasized property taxes are based on assessed value, not market value.
Board discussion focused on community outreach, cost comparisons between rebuilding and renovating, impacts to neighborhood boundaries, and next steps for campaign planning. Director Aaron moved to approve the bond development committee recommendations; Director Baritz seconded the motion. The motion passed by voice vote.
Board and staff emphasized that the bond package is the conclusion of a long-range facilities plan developed with community input, professional polling, real estate analysis and multiple public meetings. Staff said two statistically valid polls and other analyses informed the committee's recommendation and that the measure was designed to preserve the district's current tax rate by supplanting expiring debt.
The board did not set an official ballot language in this meeting; staff said ballot language will be reviewed with legal counsel and that the district will continue public outreach ahead of the proposed November special election.
Provenance: The board heard the bond presentation from Mr. Vandenberg and Mr. Kessler and then debated and voted on the committee's recommendation during the regular board meeting on March 10. The presentation and vote spanned the transcript from the board presentation beginning with Vandenberg's remarks through the motion and voice vote that approved the recommendation.
