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WCC School Board to Discuss Bond Sales

West Contra Costa Unified School District trustees will examine district bonds from 1998 to present at their Wednesday night meeting.

The bonds the West Contra Costa Unified School District has purchased the past 15 years will be the main topic of discussion at a board meeting on Wednesday night.

The district's Board of Education will gather at 7 p.m. Wednesday at Lovonya DeJean Middle School, 3400 Macdonald Ave. in Richmond.

The main item on the agenda is a discussion by the board of the various school bond sales the district has engaged in since 1998 to rebuild school facilities.

The discussion will range from qualified school construction bonds to the capital appreciation bonds that were detailed two weeks ago in a story on El Cerrito Patch.

The board will also discuss whether to hire a full-time construction architect for the Portola Middle School construction project. The Measure J bond project is currently in the bid process.

The funding for the architect would not exceed $75,000. It would be paid for with 2010 Measure D bond money.

Ira Sharenow February 16, 2013 at 09:20 AM
I decided to take a look at the bond documents in order to see how property values have been changing. From 2002/03 to 2011/12 the growth was 3.6%. From 2008/09 to 2011/12 the growth was -6.4%. Lost value. From 2010/11 to 2011/12 the growth was 1.1%. 2002/03 $16,158,323,943 2008/09 $27,062,460,076 2010/11 $21,927,157,161 2011/12 $22,170,563,072 This is the growth in debt service over the next five years. 2012 $51,486,164 2017 $63,727,504 The growth in debt service is 4.4%. Tax as a percentage of assessed valuation for WCCUSD 2007/08 . 1035 2011/12 .2322 It is also worth noting that Chevron is a very significant taxpayer. It has had several lawsuits relating to valuation. I do not know how those lawsuits impact WCCUSD. ADA 2002/03 32,390 2011/12 27,498 That represents a 1.8% per year decline in ADA. http://emma.msrb.org/ER603268-ER468828-ER871816.pdf
Ira Sharenow February 17, 2013 at 07:17 PM
Last evening I spent quite a bit of time researching information so that I could post a note. But the note has disappeared. It was mostly data from public sites. There are so many Albany comments on the main page I have trouble finding El Cerrito comments and there are so many stories that do not really pertain to El Cerrito, it can be tough to find very many that do. Clearly Patch is no longer aiming for hyper local news. Can a Patch editor please state what its model is supposed to be? From what I can tell, Patch posts local, regional, state, national, and international stories -- overwhelmingly not researched by a local Patch editor -- and then Patch hopes a discussion will ensue even though Patch often delays the posting of comments.
Ira Sharenow February 17, 2013 at 07:25 PM
On a per student basis, WCCUSD has much more than double the construction bond debt service of Albany. WCCUSD has declining enrollment; Albany has stable enrollment. WCCUSD declining tax base; Albany stable even though construction projects are often blocked. Albany has much higher teacher compensation and student performance. Enrollment WCCUSD Albany Alb/WCCUSD 2002/03 34,940 3,145 9.0% 2008/09 30,767 3,838 12.5% 2011/12 29,883 3,803 12.7% Debt Service WCCUSD Albany Alb/WCCUSD 2012 $51,486,164 $2,702,056 5.2% 2017 $63,727,504 $4,009,891 6.3% 2022 $68,261,779 $3,117,526 4.6% Debt Serv per Student 2012 $1,723 $711 41.2% Property Values WCCUSD Albany Alb/WCCUSD 2002/03 $16,158,323,943 $1,173,081,350 7.3% 2008/09 $27,062,460,076 $1,829,781,372 6.8% 2011/12 $22,170,563,072 $1,917,630,309 8.6% Property Val/student WCCUSD Albany Alb/WCCUSD 2002/03 $462,459 $372,999 80.7% 2008/09 $879,594 $476,754 54.2% 2011/12 $741,912 $504,241 68.0% BA+60 Teacher Pay WCCUSD Albany Alb/WCCUSD 2002/03 $49,513 $53,762 108.6% 2008/09 $56,915 $62,305 109.5% 2011/12 $55,377 $62,305 112.5% Family Plan Ins WCCUSD Albany Alb/WCCUSD 2002/03 $8,338 $12,849 154.1% 2008/09 $15,859 $19,399 122.3% 2011/12 $15,924 $24,131 151.5%
Giorgio C. February 18, 2013 at 06:20 PM
The issue of attendance areas came up, raised by Mr. Medrano. If these periodically change, then this means a parent can currently be supporting a local school (volunteering, donations) in anticipation that their child will be attending that school, only to discover at a later date that their child is to be enrolled elsewhere. Parents-communities should be encouraged to take ownership of their local school, but I can now see why some might choose to wait until their child is actually enrolled before offering any support. Has anyone had any experiences with the changing attendance areas?
Ira Sharenow March 01, 2013 at 12:29 AM
I just attempted to upload the slides from the presentation. I was unsuccessful. I received the slides from Debbie Haynie, Executive Secretary to the Superintendent. Some of the more controversial statements were as follows. slide 49 2002 Measure D Future Tax Rates Absent strong tax base recovery or corrective action by the District, tax rates could increase beyond targeted maximums. slide 52 2005 Measure J Future Tax Rates Absent continued strong tax base recovery or corrective action by the District, 2005 Measure J tax rates could increase beyond targeted maximums.

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