Board accepts updated facility master plan, directs staff to prepare $6.1M bond resolution

The board reviewed an updated facility master plan required for state modernization funding and discussed options, costs and financing scenarios. A facilities presenter summarized project options and estimated costs, saying the main building phase completion options totalled roughly $2.5 million for basic completion and that other renovation options add to a larger capital need (Presenter, SEG 1891-1900; SEG 1916-1924).

Financial advisor John Isom presented bond scenarios and tax-rate illustrations. He explained the menu of options and tax-rate tradeoffs, noting: "To just do the basic main building, it would require a tax rate of $15 per $100,000 of assessed value," and described larger packages and corresponding tax rates up to $48 per $100,000 for the most comprehensive option (John Isom, SEG 2468-2496).

After extended discussion and public comment, trustees settled on directing staff to prepare a resolution for a $6.1 million bond (roughly $35 per $100,000 assessed value) for consideration at the next meeting, with the ability to revise the amount before the August 7 submittal deadline. The Board President stated his preference for that middle amount: "My recommendation would be for the $35 amount," and trustees agreed staff should prepare the draft resolution for board action at the June 23 meeting (Board President, SEG 3282-3284; SEG 3550-3564).

The master plan presentation also identified $3.1 million in deferred maintenance projects and noted potential state modernization eligibility and modest projected developer fee revenue; the presenter said the capital plan showed a net deficit when current revenue assumptions were applied, highlighting the need for careful bond sizing and programming decisions (Presenter, SEG 1956-1974).