New school district improvement projects underway
The first sale of bonds from a $200 million package approved by 57 percent of Placentia-Yorba Linda school district voters in February has been completed and building projects prioritized through 2013.
Officials sold $80 million Measure A bonds to help finance a pool and stadium at Yorba Linda High School; gym, field upgrades and music hall at El Dorado High School; and gym, field upgrades and band room modernization at Esperanza High School, all to begin summer 2009.
Immediate projects are field renovation at Bradford Stadium and upgrades at Yorba Linda and Tuffree middle schools and Woodsboro and Tynes elementary schools.
Other work beginning summer 2009 includes upgrades to the Valencia High School auditorium, which was built as a federal project in the 1930s, and work at El Camino High School and Mabel Paine, Golden, Rio Vista and Ruby Drive elementary schools.
In addition to the $80 million bond proceeds, the district expects $4.6 million in state building funds in August. More bond sales are planned 2010 for $80 million and 2012 for $40 million, according to Superintendent Dennis Smith’s estimates.
And $7.4 million more state aid is expected 2012 for the final construction phase, which includes Travis Ranch K-8 modernization.
Set to begin summer 2010 are projects at Mabel Paine, Travis Ranch, Rose Drive, Van Buren and George Key schools; Kraemer Middle School; and Esperanza and Valencia high schools.
The $102 million Measure Y bond approved by 66 percent of voters in 2002 resulted in $395.2 million in projects, counting $141.8 million in state matching funds, $91 million redevelopment money, $35.8 million developer fees and $24.6 million other sources.
Measure Y appears three times on property tax bills, since the $102 million was sold in three batches in 2002, 2004 and 2005, for a total $29.50 per $100,000 assessed valuation.
Measure A also will appear as three items, since sales will be in three stages, for $29.50 per $100,000 assessed valuation. Together, the bonds will cost about $59 per $100,000 assessed valuation, near the district’s $60 legal limit for bond debt.
Measure A bonds earned “outstanding” ratings of AA- by Standard & Poor’s and Aa3 by Moody’s, higher than Measure Y bonds, said Assistant Superintendent Bob Klempen.
Trustees selected Rod Boaz, Judy Johnson, Randall Kuroda, Don Lussier, Melina Michaels, Ron Osajima, Jim Resha and Mila Thomas to oversee Measure A spending.
Keith DeBrucky, Warren Hennagin, Robert Hyde, Judy Johnson, Tom Lindsay, Art Moncrief, Eric Padget and William Walls continue with Measure Y oversight.
A FINAL NOTE
The Yorba Linda Residents for Responsible Representation board has endorsed Nancy Rikel and former Councilman Mark Schwing for two of the three City Council seats on the Nov. 4 ballot, with a third endorsement expected soon.
The board also endorsed Cynthia Verdugo-Peralta and Dave Rosenberger for Yorba Linda Water District director seats now held by Mike Beverage and Ric Collette.
Officials sold $80 million Measure A bonds to help finance a pool and stadium at Yorba Linda High School; gym, field upgrades and music hall at El Dorado High School; and gym, field upgrades and band room modernization at Esperanza High School, all to begin summer 2009.
Immediate projects are field renovation at Bradford Stadium and upgrades at Yorba Linda and Tuffree middle schools and Woodsboro and Tynes elementary schools.
Other work beginning summer 2009 includes upgrades to the Valencia High School auditorium, which was built as a federal project in the 1930s, and work at El Camino High School and Mabel Paine, Golden, Rio Vista and Ruby Drive elementary schools.
In addition to the $80 million bond proceeds, the district expects $4.6 million in state building funds in August. More bond sales are planned 2010 for $80 million and 2012 for $40 million, according to Superintendent Dennis Smith’s estimates.
And $7.4 million more state aid is expected 2012 for the final construction phase, which includes Travis Ranch K-8 modernization.
Set to begin summer 2010 are projects at Mabel Paine, Travis Ranch, Rose Drive, Van Buren and George Key schools; Kraemer Middle School; and Esperanza and Valencia high schools.
The $102 million Measure Y bond approved by 66 percent of voters in 2002 resulted in $395.2 million in projects, counting $141.8 million in state matching funds, $91 million redevelopment money, $35.8 million developer fees and $24.6 million other sources.
Measure Y appears three times on property tax bills, since the $102 million was sold in three batches in 2002, 2004 and 2005, for a total $29.50 per $100,000 assessed valuation.
Measure A also will appear as three items, since sales will be in three stages, for $29.50 per $100,000 assessed valuation. Together, the bonds will cost about $59 per $100,000 assessed valuation, near the district’s $60 legal limit for bond debt.
Measure A bonds earned “outstanding” ratings of AA- by Standard & Poor’s and Aa3 by Moody’s, higher than Measure Y bonds, said Assistant Superintendent Bob Klempen.
Trustees selected Rod Boaz, Judy Johnson, Randall Kuroda, Don Lussier, Melina Michaels, Ron Osajima, Jim Resha and Mila Thomas to oversee Measure A spending.
Keith DeBrucky, Warren Hennagin, Robert Hyde, Judy Johnson, Tom Lindsay, Art Moncrief, Eric Padget and William Walls continue with Measure Y oversight.
A FINAL NOTE
The Yorba Linda Residents for Responsible Representation board has endorsed Nancy Rikel and former Councilman Mark Schwing for two of the three City Council seats on the Nov. 4 ballot, with a third endorsement expected soon.
The board also endorsed Cynthia Verdugo-Peralta and Dave Rosenberger for Yorba Linda Water District director seats now held by Mike Beverage and Ric Collette.
posted by Jim Drummond at 12:00 PM
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