Castro Valley Unified School District Ready to Issue Second Series of Bonds from Measure G

To date, Measure G bonds have paid for facility projects at sites throughout the District, including:

  • A temporary Wellness Center at Castro Valley High School;

  • Stadium artificial turf and track replacement at Castro Valley High School;

  • Modernization and renovation of buildings at Chabot Elementary School, Palomares Elementary School, Canyon Middle School, Creekside Middle School, and Castro Valley High School;

  • Heating, Ventilation, and Air Conditioning (HVAC) upgrades at Castro Valley Elementary School and Jensen Ranch Elementary School; and

  • Play structure and safety surface renovations at all elementary school sites.


The next phase of funding will continue this work and will fund priority projects such as:

  • A permanent Wellness Center at Castro Valley High School;

  • Phase 2 of modernizations at Canyon Middle School, Creekside Middle School, and Castro Valley High School;

  • HVAC upgrades & outdoor assembly/multipurpose areas for Independent Elementary School, Marshall Elementary School, Stanton Elementary School and Vannoy Elementary School;

  • Castro Valley Adult and Career Education building modernization; and

  • Redwood High School building modernization.


The District manages its general obligation bond program to protect taxpayers’ interests. The District is conservative in the assumptions it uses when issuing debt in order to honor the tax rate commitments made to voters. Additionally, since 2006 the District has refinanced its outstanding bonds four times for a total of $12.1 million in present value savings. These savings are passed directly to taxpayers in the form of lower taxes.


As part of the District’s facilities master plan process (which was completed in 2016), the District conducted a thorough analysis to identify facility needs for the District over the next 10 years. The master plan identified a comprehensive list of needs at each campus, including major systems to be upgraded, improvements to address equity issues at all campuses and configuring spaces to provide 21st Century learning environments. Additionally, the master plan developed educational specifications that will connect the facility design to educational programs and curriculum being implemented by the District.


The master plan process included a substantial amount of outreach to District stakeholders, including staff, parents and community members. The District has continued to engage stakeholders by visiting each campus to provide facility project updates and by hosting informational meetings for parents and community members. Additionally, the District provides facility updates and project status reports on its website, which can be found on the project updates page http://bit.ly/cvusd-measureg


This upcoming transaction reflects the commitment of the Board of Education to deliver priority improvement projects for students and the community, while honoring tax rate commitments made to voters. Following this transaction, the District plans to implement the third and final phase of projects sometime in the next few years to wrap up Measure G.



Prepared by KNN Public Finance

 

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