After about a year of discussion, the San Ramon Valley Unified School District Board of Education officially approved a $260 million school bond Tuesday morning that would be used to upgrade facilities, the Contra Costa Times reports.
For approval, the measure needs at least 55 percent of voters to vote in favor. The money would come from home owners for the next 25 years. The starting rate will be $13.20 per $100,000 of assessed value in 2013.
The $260 million does not include the interest that would accumulate over the length of the bond.
"This is a once-in-a-lifetime opportunity," said board president Greg Marvel. "We have low construction costs and low interest rates. If we don't grab this now, people will look back and wonder what the board was thinking."
The facilities that will be upgraded, according to the Times, include:
- Modernization of eight elementary and middle schools: $77.5 million.
- Renovations/replacement, (Phases I-III): $43.5 million
- Stone Valley Middle (Phase IV): $21.4 million
- Construction of 47 classrooms, (Phase I): $28.2 million
- San Ramon Valley High School (Phase II): $24 million
- Construction of eight to 11 classrooms, : $6.4 million
- Construction of 18 classrooms, : $18 million
- New school in : $31.3 million
- Technology infrastructure improvements: $8.5 million
- Seismic improvements: $3-8 million
Are you in favor of the bond? Do you think it will pass? What facilities do you think need to be updated? Tell us in the comments section.