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#BuildD60 Bond Improvement Program

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What is the #BuildD60 Bond Improvement Program?

In November 2019, Pueblo voters approved a $218 million bond to upgrade infrastructure or construct new buildings at 13 schools in Pueblo School District 60. The major expenditure of the Bond Improvement Program is new construction for East and Centennial high schools, which will cost an estimated $75.7 million apiece. The remaining funds will go toward infrastructural or safety upgrades at schools, such as HVAC and electrical systems.

The schools targeted for new constructions or upgrades relied upon the District 60 Facilities Master Plan, a detailed analysis of the infrastructural and financial status of District 60. The Facilities Master Plan was the impetus for the Board of Education seeking a bond measure.

What it means to taxpayers

As a result of the passage of the bond question in 2019, the $218 million bond translates to an extra $78.27 in residential property taxes annually per $100,000 of assessed valuation. For commercial properties, every $100,000 of assessed value would result in an extra $315 in taxes annually.

With the duration of the bond extending 20 years, the total repayment cost, which includes interest, is $359.5 million. The bond is repaid at an all-in true interest cost of 2.41%.

More 'bang for their buck' for taxpayers

Several factors have resulted in the #BuildD60 Bond Program having additional dollars in the budget:

Because of the bulk of bonds sold, the annual bond payment paid by District 60 will only be $17.5 million, a total savings of $33.6 million to taxpayers throughout the bond’s 20-year lifetime.

In June 2020, District 60 was awarded two Building Excellent Schools Today (BEST) grants, which allows for a replacement of Franklin School of Innovation and Sunset Park Elementary. The BEST grant application process requires "matching funds" in order to apply, and about $6.2 million (about $12.4 million total) was set aside from the $218 million bond funds for that purpose. The BEST grant award resulted in an additional $16.14 million for the Franklin replacement, and $15.95 million for the Sunset Park replacement – a total of $32.09 million in tax-free funds that do not need to repaid.

Community monitoring and engagement

As part of the voter-approved #BuildD60 Bond Improvement Program, language was included to create a Citizens' Bond Advisory Committee (CBAC) to monitor how the bond funds are being spent. The CBAC is tasked with reporting to the Board of Education quarterly.

Additionally, District 60 is maintaining a repository of information and developing blog posts/articles to inform the public at large about the project(s).

As it pertains to the new construction of Centennial and East, a Design Advisory Group (DAG) to provide input to project architects during the design process of both schools.

More about the #BuildD60 Bond Improvement Program

Message from Superintendent Charlotte Macaluso

(Published in the Pueblo Chieftain, Nov. 13, 2019)

Pueblo is a community that is very unique, rich in history, tradition and passion. When there’s an issue or a challenge, Pueblo is known to come together to solve it.

With the passage of Ballot Issue 4A by Pueblo voters last Tuesday, it was the culmination of the community’s desire to invest in something they believe in – the protection of our public education in this community.

In recognition of that hard work and dedication, I wanted to extend a heartfelt thank you to the community for the vote of confidence it gave Pueblo School District 60 to address critical needs at several of our schools.

The past year and a half was a grueling process to say the least. We tried to do our best in implementing an authentic, transparent stakeholder process. We evaluated multiple options, and in some way, each issue stoked a great deal of passion.

I know it was a very emotional issue, and I think we truly did listen and took feedback – and sometimes that feedback was difficult to hear. In the end, though, each piece of feedback we received, whether it was positive or negative, contributed to the ultimate outcome of the passage of 4A.

We did our best to listen to the community, and we came up with a game plan that we thought the community would support while also maintaining Pueblo’s steadfast connection to its four high schools – and those hallowed traditions that have made our community so special.

I want to commend the Board of Education and the leadership they showed in coming up with a plan to address issues with some of our buildings in District 60. Additionally, I wanted to thank the Citizens for Pueblo District 60 issues committee and the stakeholders, giving up their time, talent and resources to run a successful campaign.

We all knew the stakes were high. The reality was that some schools in District 60 would have to be closed because they would eventually become unsafe to house our community’s most precious commodity – our kids. Nobody wanted that to happen, and though there were disagreements in how to address that issue, most people in the community agreed that something had to be done to address the issues posed by our aging buildings.

It was through that common cause that the 4A ballot issue was crafted and ultimately approved by voters, and I thank the voters’ willingness to improve the educational environment for Pueblo’s kids.

With the successful passage of 4A, though, the real work now begins.

In the coming months, not only will the building repairs outlined in the 4A bond issue begin to move forward, but discussions and planning will get underway for the new construction of Centennial and East high schools. District 60 will update the community about these voter-approved projects every step of the way through its website and social media channels. Transparency about this process is what the community expects, and we at Pueblo School District 60 will provide that to the best of our ability.

Once again, I would like to thank Pueblo for its passion for our kids, their education, and our community.
Text of 2019 Ballot Question 4A (D60 Bond Improvement Program)

At a special meeting held on July 30, 2019, the Board of Education unanimously decided to ask Pueblo School District 60 voters if they would approve a $218.25 million bond issue for school improvements. The measure appeared on the Nov. 5, 2019 ballot and was passed by a majority of Pueblo voters.

Since September 2015, the Board of Education had been engaged in a Facilities Master Plan process, assessing the condition of district facilities, listening to the school community, and studying the recommendations of architects, construction professionals, and community stakeholders. After an extensive public engagement process, numerous community meetings, and several surveys of the needs and desires of district taxpayers and constituents, the Board sought the issuance of general obligation bonds to replace, repair and update school facilities.

The bond question that appeared on the ballot was as follows:

SHALL PUEBLO SCHOOL DISTRICT NO. 60 DEBT BE INCREASED $218.25 MILLION, WITH A REPAYMENT COST OF UP TO $359.5 MILLION, AND SHALL DISTRICT TAXES BE INCREASED BY UP TO $19.5 MILLION ANNUALLY FOR THE PURPOSE OF REPAIRING, IMPROVING, CONSTRUCTING, EQUIPPING AND OTHERWISE UPDATING SCHOOL FACILITIES WITHIN THE DISTRICT AS MONITORED BY A CITIZENS’ BOND ADVISORY COMMITTEE, INCLUDING, BUT NOT LIMITED TO:

ADDRESSING CRITICAL NEEDS AT FOUR DISTRICT HIGH SCHOOLS BY MAKING PRIORITY REPAIRS, UPGRADES AND SECURITY ENHANCEMENTS TO CENTRAL HIGH SCHOOL AND SOUTH HIGH SCHOOL, AND CONSTRUCTING AND EQUIPPING TWO NEW HIGH SCHOOLS FOR CENTENNIAL HIGH SCHOOL AND EAST HIGH SCHOOL WITH EXPANDED CAREER AND TECHNICAL EDUCATION PROGRAM SPACE, MODERN CLASSROOMS, AND EXPANDED ACCESS TO NEW TECHNOLOGY AND COMPUTERS; AND
ADDRESSING CRITICAL HEALTH, SAFETY AND SECURITY CONCERNS IN OTHER DISTRICT BUILDINGS, AND PROVIDING UPDATED SAFETY AND SECURITY SYSTEMS AND OTHER PRIORITY REPAIRS AND UPGRADES;
BY THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION BONDS WHICH SHALL BEAR INTEREST, MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, AND BE ISSUED AT SUCH TIME, AT SUCH PRICE (AT, ABOVE OR BELOW PAR) AND IN SUCH MANNER AND CONTAINING SUCH TERMS, NOT INCONSISTENT WITH THIS BALLOT ISSUE, AS THE BOARD OF EDUCATION MAY DETERMINE; SHALL AD VALOREM PROPERTY TAXES BE LEVIED WITHOUT LIMIT AS TO THE MILL RATE NOT INCONSISTENT WITH THE COST PARAMETERS SET FORTH ABOVE AND IN AN AMOUNT SUFFICIENT IN EACH YEAR TO PAY THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT AND TO FUND ANY RESERVES FOR THE PAYMENT THEREOF; AND SHALL ANY EARNINGS FROM THE INVESTMENT OF THE PROCEEDS OF SUCH TAXES AND SUCH BONDS (REGARDLESS OF AMOUNT) CONSTITUTE A VOTER-APPROVED REVENUE CHANGE; AND IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS SHALL THE DISTRICT’S DEBT LIMIT BE ESTABLISHED AT 6% OF THE ACTUAL VALUE OF THE DISTRICT’S TAXABLE PROPERTY AS PERMITTED BY LAW?

D60 Newsroom

DISTRICT LEADERS, BOARD MEMBERS TOUR NEW SCHOOLS

With representatives of GE Johnson, H.W. Houston Construction and HGF Architects serving as the site guides, members of the D60 Leadership Team joined Board of Education members Vice President Tommy Farrell, and Barb Clementi and Dr. Kathy DeNiro, for an inside look at the future of education.

Comments (-1)
DISTRICT DUO KEEP BOND PROJECTS ON TRACK AND ON BUDGET

Mr. Horner and Mr. Lawson have, in conjunction with District leadership, construction team partners and others, not only fulfilled those duties but are giving taxpayers a lot more “bang for their buck.”

Comments (-1)
BOND PROCEEDS TRANSFORMING THE DISTRICT

With the construction of new East and Centennial high schools at the midway point, and with new Sunset Park and Franklin builds underway, the 2019 bond approved by voters continues to transform the District.

Comments (-1)
POTENTIAL NAMES FOR NEW EXPEDITIONARY SCHOOL PRESENTED

Formulated with input from the community through a survey, and finalized by a 20-member stakeholder committee, the three names are the Nettie S. Freed Expeditionary K-8, Steel City Expeditionary K-8, and Pioneer Expeditionary K-8.

Comments (-1)

more

#BuildD60 Bond Improvement Program

More about the #BuildD60 Bond Improvement Program

Message from Superintendent Charlotte Macaluso

Text of 2019 Ballot Question 4A (D60 Bond Improvement Program)

D60 Newsroom

DISTRICT LEADERS, BOARD MEMBERS TOUR NEW SCHOOLS

DISTRICT DUO KEEP BOND PROJECTS ON TRACK AND ON BUDGET

BOND PROCEEDS TRANSFORMING THE DISTRICT

POTENTIAL NAMES FOR NEW EXPEDITIONARY SCHOOL PRESENTED