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District proposes $15 million capital reserve on ballot to cover 15 years of projects
Summary
Staff described capital projects totaling $2.6 million and said the ballot will include a proposed $15,000,000 capital reserve fund spread over 15 years to pay for anticipated district projects listed in the enabling resolution.
District staff reviewed planned capital projects for the next year, saying the board walkthrough identified approximately $2,600,000 in projects across district buildings.
The presenter said the ballot will include a proposed capital reserve: “the new capital reserve project, a capital reserve fund, which will be a $15,000,000 fund, spread out over 15 years,” and noted the resolution lists anticipated projects that could be funded during that period. The board was asked whether members wanted the staff to go through each building’s projects in detail.
No formal vote or timeline for adopting the capital reserve was given in the transcript; the item was presented as a proposition to appear on the ballot and the resolution’s project list was described as illustrative.
