Community College District Moves Forward With Measure C Projects
The West Valley-Mission Community College District is
quickly moving ahead with the first projects funded by Measure C, the $350
million facilities bond voters passed last June.
Over the next two months, the district plans to present the architect
selections to the WVMCCD Board of Trustees for several of the projects. Construction
is expected to begin in about 12 months.
At Mission College, projects include the Wellness and Human
Performance Building, the Facilities Replacement Building and Phase 2 of the
Main Building replacement. At West Valley College, projects include the ongoing
renovation of the Applied Arts and Sciences Building (some of the renovation
was funded by the previous bond measure, Measure H), the Facilities Replacement
Building and the new Student Services Building.
The district’s rapid progress is a result of the successful
sale of the bond’s first $100 million in August, an offering that drew a high
level of interest from investors. For some of the series, there were eight
times more orders from investors than bonds available, said Ed Maduli, WVMCCD
vice chancellor of administrative services. He attributes such demand to the district’s
high credit ratings, which reflect the responsible way the district has managed
its overall fiscal house, including monies from Measure H.
“We essentially spent all of the money on construction and
didn’t spend any money at all on administrator salaries and it shows in the
buildings that we produced,” Maduli said. “We were able to do more than we’d
At the same time as the August bond offering, the district
also refinanced some existing debt from Measure H, ultimately saving voters about
$1.3 million, Maduli said.
Voters will also see a lower tax bill for the 2012-13 fiscal
year. The tax rate voters approved was $16.25 per $100,000 of assessed value;
the actual rate was $15 per $100,000.
Measure C continues the work begun under Measure H, with key
priorities including replacement of outdated classrooms, labs, lecture halls,
performing arts spaces and administrative facilities. It will also pay for such
things as the repair and replacement of leaky roofs, heating, cooling, plumbing
and electrical systems throughout the aging campuses as well as the updating of
technology infrastructure to help students prepare for transferring to
Maduli said the district anticipates selling additional
bonds in about 2 ½ to 3 years, which allows the district enough time to ensure
the money from the first offering is spent.