GROWTH NEEDS COSTLY FOR HART 2008 BOND ISSUE TO BE CONSIDERED.Byline: CONNIE LLANOS llanos (yä`nōs), Spanish American term for prairies, specifically those of the Orinoco River basin of N South America, in Venezuela and E Colombia. Staff Writer SANTA CLARITA Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, -- Faced with a possible debt of more than $100 million in the next few years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time Hart Union High School District board is looking at options that include floating a bond measure next year and selling off some assets. At a special board meeting of the district Monday night, staffers and board members met with developers, financial consultants and the community to discuss ways to manage an anticipated shortfall Shortfall The amount by which the capital required to fulfill a financial obligation exceeds available capital. Notes: Shortfall risk is often combated with an efficient hedging strategy created by a fund, group, institution, or individual. of $124 million by the 2009-10 fiscal year. Skyrocketing construction costs coupled with the increased scope of building projects and a reduction in state funding are largely to blame for the shortfall. "A few years ago we could build an entire high school for under $80 million, and now construction costs have ballooned bal·loon n. 1. a. A flexible bag designed to be inflated with hot air or with a gas, such as helium, that is lighter than the surrounding air, causing it to rise and float in the atmosphere. b. and to build that same school two years from now will cost 175 million (dollars)," said Rob Gapper, the district's chief operations officer. "This is not a problem unique to the Hart district. School districts across the state are now faced with the same challenges." In the past five years, the district built two high schools and two junior highs and began modernizing three campuses, managing a rate of growth one consultant called unheard-of in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). . Now there are plans to build a high school in Castaic and performing arts centers A performing arts center, often abbreviated PAC, is a multi-use performance space that can be adapted for use by various types of the performing arts, including dance, music and theatre. at Canyon and Saugus high schools Saugus High School may refer to:
On Monday, the Dolinka Group financial consultants cited various ways the district could narrow its funding gap, including placing a bond measure on the June 2008 ballot. Ann Feng-Gagne of the Dolinka Group said such bonds would not increase the previously approved tax rate of $30 per $100,000 of assessed property value and would be adjusted against new, and appreciated, home values. "In 2001, voters approved a $30 tax per $100,000 worth of property value, which totaled to a $158 million bond, but since then house sales have gone up, and total assessed values have gone up," Feng-Gagne said. She estimated that the average local taxpayer in 2006-07 was paying about $24 per $100,000 of property value to repay the 2001 bonds. The report recommended taking a look at the list of pending construction projects, ranking them by priority and considering changes in the scope of some. For example, the district could save about $2 million on the performing arts centers at Canyon and Saugus high schools if it cut the number of seats at each from 500 to 400. Paul Rivas, Hart's facilities director for modernization modernization Transformation of a society from a rural and agrarian condition to a secular, urban, and industrial one. It is closely linked with industrialization. As societies modernize, the individual becomes increasingly important, gradually replacing the family, projects, has cut some costs by switching construction methods. He suggested paring frills Frills see frilled. to keep costs down. "If we keep building our high schools to these set models, two years down the road our $150 million school will become a $240 million school," Rivas said. "We need to look at educational space when we talk about educational equity, not the decor inside any given principal's office and the grandness of their ceilings. "We want quality schools and we won't sacrifice that quality, but if there are ways to save money we will explore them." But some board members said they are unwilling to compromise on new schools. "Keep in mind these are just suggestions and no decisions have been made yet," Superintendent Jaime Castellanos said. "In four short years, we built two high schools and a junior high school and we almost finished the modernization of three more schools." connie.llanos@dailynews.com (661) 257-5254 |
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