Wichita Public Schools' bond issue a great investment
With some recent news stories about the national economy, some may wonder if now is the right time for a bond issue. The answer is YES! The Wichita Public Schools' bond issue is a great investment in our students and the future of our community by addressing critical facility needs and growth in our community.
According to the Wichita Metro Chamber of Commerce's website, Wichita is the number-one real estate market in the United States. Wichita also ranks second in the nation for Best Cities for Jobs in 2008. An article in The Wichita Business Journal's October 3 edition recently stated that major employers continue to add jobs.
"In Wichita, the news is not like it is in other places. Now is a great time to invest in our kids. If not now, when?" said Lynn Rogers, Board of Education President.
Wichita benefited from 2000 bond issue - The 2000 bond issue had an impact on Wichita of $41.5 million a year and supported more than 1,000 jobs in Wichita, according to a study by Wichita State University’s Center for Economic Development and Business Research. The report figured that for every job created by the district, another 1.2 jobs are reported throughout the economy. Taking that into account, the 2000 $284.5 million bond issue had an annual average impact between 2000 and 2007 of 1,357 jobs with an average annual economic impact of $41.5 million. At its peak in the 2005-06 year, the bond issue supported 2,259 construction positions. To read an earlier Express story about this study, click here.
Cost to homeowners - The bond issue would mean $42.55 additional taxes per year on a $100,000 home, or $3.55 per month. An investment of less than $1 per week will result in a $370 million pay out to support Wichita children.
State will pay 25% - Under Kansas law, Wichita taxpayers contribute tax dollars each year to help support school districts throughout the state who have passed bond issues. This bond issue plan will allow Wichitans to benefit, as the state will pay 25 percent of the total cost — $92.5 million plus corresponding interest.
"The key point to remember is that our schools have tremendous needs right now and these needs, especially the growth in certain areas of Wichita, will not go away," Rogers said.
Deborah Franklin, Wichita State University’s Center for Economic Development and Business Research, presented a report to the Board of Education concerning population growth in certain areas of the district. The northeast and southeast areas are both expected to have a 20% growth of school-age children in the next 5 years. To view her presentation to the Board of Education on September 22, click here.
The critical needs of the bond issue are additional schools and classrooms to support class size reduction, overcrowding and growth, build 60 safe rooms, support the end to forced busing, upgrade technical education programs and renovate or rebuild aging and unsafe physical education, athletic and fine arts facilities.
More information about the bond issue can be found on the Wichita Public Schools' website.
It's about Our Kids, Our Schools and Our Future!
October 6, 2008