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Financial advisor: voter survey shows modest majority for a bond extension; board to continue outreach
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Summary
A consultant told the Simi Valley Unified School District board that a 400‑respondent survey shows low‑60s support for a school bond after voters received project details and that extending the current tax rate (no increase) tested particularly well; a developer also briefed the board on using the CSCDA for advancing developer‑paid school fees.
John Isom, the district’s financial advisor, told the Simi Valley Unified School District board that a 400‑respondent feasibility survey found roughly low‑60s support for a potential school bond once voters were briefed on projects and tax rates. "The tax‑rate extension option seems very appealing to them," Isom said during the presentation, noting that the district could qualify for about $103 million in state modernization funds if local matching is provided.
Isom said the survey prioritized career‑technical classrooms and labs, leaky roofs and HVAC, safety and security upgrades, and modernization of outdated classrooms. Voter sensitivity to tax rate emerged as the key constraint: a scenario that extended the district’s current rate (no increase) polled substantially better than higher new tax scenarios, Isom said.
Board members asked about sample size and margin of error; Isom explained the 400‑respondent sample yields about a ±4.8% margin of error and recommended moving to a second phase of qualitative outreach with elected officials, parent groups, unions and business leaders to vet project priorities.
Separately, Carter Froelich, representing Newport Pacific Land Company, and developer Jim Boyd described a proposed Lost Canyons housing project and a financing tool administered by the California Statewide Community Development Authority (CSCDA). Froelich said joining CSCDA would not make the district liable for CSCDA bonds and could let developers accelerate payment of school fees through a community facilities/assessment district. "The school district will never be liable for any of the bonds that would be issued through the CSCDA," Froelich said.
Board members pressed for specifics on phasing and the district’s exposure if a project does not proceed; district staff and the developer said fee receipts can be phased to manage risk and that any bond issuance would return to the board for approval before sale. The developer described Lost Canyons as a multi‑phase project of roughly 384 homes with grading and early phases expected to move forward within months if approvals proceed.
Next steps: Isom recommended qualitative outreach and stakeholder interviews; staff indicated a resolution to move forward with CSCDA membership could return for board consideration next month. No board vote on a bond measure or CSCDA membership occurred at this meeting.
