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Maricopa Unified details $70 million Prop 488 bond to build two K–8 schools and high‑school space
Summary
Maricopa Unified School District officials presented Proposition 488 as a $70 million bond that would fund two new K–8 schools and additional high‑school classroom and workforce-development space; district leaders said the bond is structured so it will not raise the current tax rate.
Dr. Tracy Lman, Superintendent of Maricopa Unified School District, told a public forum the governing board placed Proposition 488, a $70 million general obligation bond, on the November ballot to pay for four projects: two new elementary (K–8) schools and two high‑school projects, including workforce-development space.
The bond money would supplement state construction grants that the district said do not cover full build-out costs. Dr. Lman identified the Serrento site as one school opening July 2026; the state has provided about $31 million for that project, and the district estimates it needs roughly $12.5 million more from the bond to "fully equip" the school. A second K–8 opening in two years is expected to receive roughly $23 million from the state and about $20 million of local supplement. The Desert Sunrise high‑school expansion is projected to receive about $42 million from the state and would need a district supplement of roughly $15 million. A separate high‑school workforce‑development project would be paid entirely from the bond, Dr. Lman said.
Jacob Harmon, identified in the transcript as the district chief financial officer, explained how the district intends to issue the bond without increasing the existing tax rate. Harmon said the board set the total amount at $70 million so the perceived tax rate would stay near the current ~79¢ level, and showed illustrative homeowner impacts required by statute: about $63 per year for a $100,000 taxable value home and "just under $100 a year" for the district's average taxable value of about $154,000. Harmon described a 20‑year repayment schedule for principal and interest and said properly timed bond sales can keep the tax rate stable.
District officials framed the bond as a response to rapid enrollment growth. Harmon said the district projects roughly 7,400 additional students over the next 10 years (about 800 per year), a pace that the district argues requires regular school construction. The presenters said all $70 million is assigned to new‑school construction categories only, and that an oversight committee will monitor spending to ensure funds are used on the projects listed in the voter pamphlet.
Ballots will be mailed starting Oct. 9, and county guidance recommended returning ballots by Oct. 29 to ensure delivery on time for the Nov. 5 election.
Why it matters: the district says state construction formulas lag market costs and would leave schools under‑equipped without local supplements; the bond would allow the district to add classroom capacity, invest in durable materials and expand workforce and CTE facilities that officials say support career readiness.
Key quotations: Dr. Tracy Lman said "it's a $70 million bond" to supplement state funds and address rapid student growth; Harmon summarized taxpayer impact as "approximately $63 a year" for a $100,000 taxable home. The district noted the bond is restricted to new‑school construction and will be overseen by a committee.
Election note: Prop 488 is on the Nov. 5 ballot; voters with questions about tax bills were directed to contact the district for details.
