Dollars and Cents of The Bond
Costs:
The bond would raise 149 million dollars for Estacada Schools. The estimated tax increase is $2.38 per $1,000 of assessed property value. The bond would cost the average Estacada homeowner an additional $40 monthly.
The Cost To Wait:
As inflation rises and school facility conditions continue to worsen, industry professionals have quoted the costs of delaying construction at an additional $600,000 per month delayed.
Current Bond Expiration:
The last school bond in Estacada was passed in 2000, more than 20 years ago. This bond expires in 2025, allowing the district to pass a new bond in alignment with this date. New bond costs would not go into effect until the current bond costs expire.
State Matching Funds:
A special opportunity: the State of Oregon has selected the Estacada School District to receive a matching grant of $4,000,000 from the State of Oregon if bonds are approved. The District only receives the grant if bond measure passes. The grant would fund bond projects at no additional cost to taxpayers.
Bond funds can only be used for voter-approved projects:
The principal amount cannot exceed $149 million. Law prohibits the use of bond funds for any expense not listed on this ballot.
Independent Oversight:
An independent citizen Bond Oversight Committee would monitor the progress of the bond, issue regular reports, and ensure that projects are being managed responsibly.