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Chartiers-Houston School Board issues $10M worth of bonds for renovation project
After an anxious discussion about the impact of the economy on Chartiers-Houston School District, the board voted 5-3 on Monday to issue $10 million worth of bonds for the high school renovation project.
Bond counsel Bob Aumer brought the board another bid for bonds Monday. The board had been waiting to issue bonds until it could get a good rate. The interest rate will start at 3 percent and run up to 4.4 percent over the 20 years of the loan.
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"Consumer confidence is at an all-time low," said board member Lisa Mowry, who voted against borrowing the money now. "What do taxpayers want?"
Resident Sue Shuba questioned why the board was spending this much money when the economy is in such turmoil. She said the board shouldn't be spending millions on an athletic complex.
"This is a bad time," she said. "So many of us can't afford the millage. This is a frivolous project for a few people."
The $10 million will mean a 7.26-mill increase, and 3 of those mills were approved last year.
Board member Harlan Shober Jr., who voted to borrow the money, said more than $8 million will be spent to renovate the junior and senior high school.
The rest of the money will be used to update the existing gym or an additional amount will be borrowed to build an athletic facility. That amount will depend on interest rates and what bids for the athletic complex will be.
Board President Richard Hall said now is a good time to build because prices for construction goods are going down. For example, he said, copper is half the price it was a year ago. The cost of steel also has dropped.
"I think one thing we have to do is invest back into the infrastructure," he said.
If the board plans to complete the project, Aumer suggested issuing the bonds now because he thinks the interest rates will go up. If the economy gets worse, the board still can stop the project, Aumer said. If the bids come in high, the board can reject them, he said. The board also can buy back the bonds. Plans call for the project to be bid in November and for the board to vote on the bids in January.
Board member Fred Rockage said he is in favor of the project but he's not comfortable with the interest rate.
"I think we can get a better interest rate," he said.
The board also rescinded its November vote to borrow the $10 million. The board issued the bonds then, but Aumer told them in December that interest rates jumped. He suggested waiting until the beginning of the year to see if they fell. The board agreed to wait but didn't vote on rescinding the November decision until Monday.
Mowry, Fred Rockage and Richard Caumo voted against borrowing the money.
Shober, Hall, Kathleen Belfiore, Frank Vulcano Jr. and Rodney Whitfield voted for borrowing the money. Anthony Marra was absent.
It's not all for an athletic facility! : 1/14/2009
Finally it comes out that the majority of the money is going to be used for updates the schools desperately need. It only took a year to prove that CH is NOT building a 15 million dollar athletic facility! So for all of you who fought this I smile in victory.
Bonds.... : 1/14/2009
Reading this article and the comments made by these board members, it feels like I am reading a lost scrpit from the movie "Dumb and Dumber". I am not against a building project but from an economics standpoint, timing could not be worse. What concerns me is that this board really does not know where they live or who the public is. Yes Mr. Hall the cost raw materials are indeed down. However, have you and the board considered if mean/average wages are up or down in the district? News flash, C-H is not Peters, Upper St. Claire or other districts where average income levels are much higher than C-H. Its the impact that these projects have on the public as it affects their pocket books and household budgets. The board is privy to income data (mean averages) in the district. As unemployment rates rise and wages overall likely drop, its time to be prudent in everyone's spending habits. This inlcudes school districts. Perhaps a more graduated or stepped project approach over a period of 2-3 years would of been more acceptable. But no, no matter how they spin this, the real goal is to get this athletic complex pushed as quickly and as much under the radar as possible.
DiDdy : 1/14/2009
They who smile first smile last. Inconceivable that the board would go ahead with this athletic complex in this economy when people are losing jobs and homes. Can't wait to see how much actually goes for school renovations.
why push the athletic complex? : 1/14/2009
Why are we spending millions of dollars on an athletic complex and "school renovations" when there needs to be more of an effort put towards the education. (and maybe some education in economics for the board members) Canon McMillian has "blue ribbon schools" why is it that we're right over the hill and we don't have that honor? Put more money into educational supplies and computers for the students, ALL STUDENTS and not just the athletes.
Don't smile too fast : 1/14/2009
Oh yes, smile in victory. That's a joke. Let's wait and see where it really goes. If you think 80% is going for renovations and 20% to the athletic complex, then i have riverside property for you in Arizona. They are trying to shut the people up who say they don't want it. My daughter qualified for free lunches this year. Why? I lost my job, but hey!! I can go watch the sports at the High School while i'm unemployed.
Spend what we don't have : 1/14/2009
Once again, will you please wake up people?? No matter what is on the agenda for the school board meetin, it will always end in a 5-4 vote. The 5 can't wait to get rid of the "4" and then watch what happens. They will tax all of us out of Chartiers. I wish everyone would vote the 5 out and get people in there that represent the "normal" people of Chartiers.
Election this year : 1/14/2009
Good idea to get some other people on the school board to change the dynamics. But, there needs to be some residents who are willing to run and want to volunteer their time to be on the board. Election is coming up in the Spring!
Don't Smile too fast : 1/15/2009
maybe you should get up off of your _ _ _ and go get a job instead of posting on the Internet. If you are unemployed how do you have Internet access? Most of you people just have to skip going to McDonald's 5 times a year and there is your raise in taxes. Know the facts before posting. Most of you talk like you know the future of our economic state. Point is none of us do and it will get better as history has shown us.
school board : 1/18/2009
How can a school build an athletic facility when they do not even have enough books to hand out to all students. Some students are forced to "share" books. I would have no problem with a new gym, as long as education, not athletics, came first. Also, I really wish people who truly wanted to better the district would run for school board - not peolpe that have their own agenda. I believe there are 2 people on the board that are there for the right reasons. I would love to be on the school board - howerver, there is 1 problem - I was not born & raised here. Nor do I have a "recognizable name". People of Chartiers need to realize that there is "big" world out there - beyond Chartiers.
