What Denver schools bond request aims to fix
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Denver Public Schools' plan to overhaul its aging facilities will rely on Denver voters this November.
The big picture: DPS' Board of Education last week unanimously approved sending a $975 million package to the ballot.
Why it matters: It's another crucial decision Denver voters will make about using public money for public services.
- The DPS measure — the largest bond package in district history — will provide upkeep and upgrades to 154 district buildings, most of which are schools, district COO Trena Marsal tells us.
State of play: The biggest portion of the bond package ($301 million) pays for revamping the mechanical, electrical, plumbing and other infrastructure at schools, as well as asbestos remediation and other renovations.
- Some local charter schools will benefit, though Marsal didn't offer specifics.
How it works: If approved, the money would increase the district's bond debt, but wouldn't increase property taxes.
- Bonding instead relies on paying back debt with an existing funding source, which in this case is property taxes, district CFO Chuck Carpenter says.
- The district pays about $250 million in principal and interest annually toward its debt from previous bond projects, Carpenter tells us, and the additional debt won't affect the district's credit rating.
What they're saying: "The buildings that we have are really, really old ... so they need to have this update," Carpenter tells us.
- DPS facilities have an average age of 55 years, per a district statement.
Zoom in: DPS split the money into six categories, with other major projects including $240 million toward installing air conditioning at 29 schools.
- $124 million is earmarked for new school construction, including building an elementary school in far northeast Denver.
- $100 million will be used for renovations to existing schools, including restroom, cafeteria and outdoor classroom upgrades, per Chalkbeat.
Threat level: Marsal says she's concerned about people ignoring the measure in a lengthy ballot.
Yes, but: The district purposefully makes bonding requests during presidential election years to capitalize on higher voter turnout.
Zoom out: A July poll released by a civic engagement nonprofit Denver Families for Public Schools, which supports DPS's measure, showed a majority of voters would support the bond.