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Osceola Schools Proposes Building Projects

November 27, 2018

Osceola School District Patrons;

At the November regular Board meeting, the Osceola Board of Education shared with the community the proposed solution to the school districts needs.  The following summarizes the meeting.

For several decades now the school district has explored consolidation efforts with neighboring districts with little results.  After feasibility studies were completed in 2013 and with lack of interest in consolidating from area schools, the board decided to move forward on its own.  Facing the board were facilities issues that had not been addressed because of the possibility of consolidating.  During goals meetings items were prioritized, but have not been able to be addressed in a timely manner.  Facing this dilemma the board started to explore the financial benefits of economy of scale (getting better pricing on multiple projects vs. one project at a time).  For the past year and a half the board has been formulating a plan to address as many of the districts needs as possible while keeping the project affordable for our patrons, especially those that are Ag based who pay a large share of the taxes.  Working with Wilkens Architecture, B|D Construction, First National Capital Markets and a group of 20 plus community members through 7 different plans, they have come up with a proposal that they feel is the best option for the district students and their education.  Below is a preliminary plan for the solution along with the estimated costs of the proposal.  The following is a list of needs that can be addressed by the building proposal.

List of items to be address by a building project:

  1. Needed roof on Elementary.
  1. Elementary entry and security update.
  1. Security updates to High School.
  1. Improve student safety at drop off and pick up areas.
  1. Needed roof on Auditorium.
  1. Address PE Requirements for Elementary students with gym.
  1. Provide badly need community daycare.
  1. Improve early childhood education opportunities.
  1. Address lack of activity space for  elementary students as far as recesses and team sports
  1. Replace 60 year old kitchen.
  1. Address lack of storage space.
  1. Address bleacher replacement .
  1. Address lack of locker room space.
  1. Provide 24/7 walking track for students and community.

 

The following is the financial information and preliminary projections from the meeting:

Valuation                    $528,505,752

Fund                            Levy                                   Tax Asking

General                        0.669514                             $3,538,420

Building                      0.038225                             $   202,020

QCPUF                       0.028669                             $   151,515

TOTAL                       0.736408                             $3,891,955

 

Anticipated Building Fund Balance End of Fiscal Year = $750,000

Anticipated QCPUF Levy Requirement After Fiscal Year =            <1.0 cent

Par Amount of Bond Issue                           $7,660,000

        Current GO Bond Rates (20 yrs)            3.65-3.75%

        Average Annual Debt Payment              $550,000

 

Bond Fund Levy Requirement                                10.30 cents

                 QCPUF Bond*                                           2.00 cents

                 Building Fund *                                         3.80 cents

Net Tax Levy Impact of Bond Issue                         4.50 cents**

Net Levy Impact =  4.5 cents/$100 of valuation

*Projections based on potential pay off of QCPUF and replacement of Building Fund.

**Conservative initial net levy impact; could go lower after QCPUF totally retired.

 

Homeowner Tax Impact                             Ag Land Tax Impact

$50,000             $22.50                                  Irrigated Quarter          $403.00

$100,000           $45.00                                  Dryland Quarter           $266.00

$150,000           $67.50                                  Grassland Quarter        $157.00

$200,000           $90.00

 

*Average assessed value per acre for Polk County:

Irrigated Acre             $5,592                         Quarter            $894,720

Dryland Acre              $3,700                         Quarter            $592,000

Grassland Acre           $2,175                         Quarter            $348,000

 

Annual individual tax payer impact =         Total Valuation   x   .00045

 

The information at the meeting and in this web article is intended to provide preliminary information to the public.  Upon board action to officially call a bond election more detailed and specific information will be organized and shared with the patrons of the district.

 

If you have any questions about the proposal please be sure to talk with any of the Board of Education Members or contact the Superintendent at 402-747-3121 or at srinehart@osceola.esu7.org.

Click here to get a pdf of this information.

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