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Board leans toward pay-as-you-go plan after capital funding shortfall
Summary
District presenters told the board bond proceeds were exceeded on high school construction, delaying projects; the board supported a revised schedule using current funds and continuing a pay-as-you-go model rather than lease revenue bonds.
District staff presented capital-strategy options at the March 18 study session after bond proceeds were exhausted during high school construction, a shortfall that has pushed back many planned projects.
Presenters Don Adams and Todd Hauber reviewed three scenarios that would have used lease revenue bonds but said statutory constraints and interest costs made lease revenue bonds impractical. Staff proposed a revised schedule using existing funds: West Kearns elementary rebuild in 2027; Calvin Smith elementary remodel and Taylorsville High improvements beginning in 2027; and Plymouth and Moss elementary remodels in 2028. The board expressed support for maintaining Granite’s pay-as-you-go model to manage contractor availability, logistics and temporary housing needs when multiple projects overlap.
The presentation emphasized trade-offs: advancing six or more projects at once would complicate logistics and contractor retention; continuing with a phased approach was presented as the most viable option under current financing limits.
