CVTC Board Takes Step Toward $48.8 Million Facility Referendum
V1 Staff |
The Chippewa Valley Technical College District Board passed a resolution Thursday, Dec. 5, stating its intent to issue $48.8 million in bonds to fund facilities projects to address regional workforce needs. The resolution is a preliminary step towards a potential referendum on the spring 2020 election. The next step is a public hearing at 5:30pm Thursday, Dec. 19, in the Business Education Center, 620 W. Clairemont Ave., Eau Claire. Following the outcome of the public hearing, the District Board may decide to proceed with a ballot resolution that would be considered at a Jan. 16 meeting.
In September, the CVTC board authorized a survey of district residents conducted by School Perceptions LLC to gauge support for facilities projects and their tolerance of the property tax impact. The consultant determined that a referendum of $55 million or slightly less would be the amount most likely to have success. If a $48.8 million referendum passes, the tax impact would be spread over the 11-county district, resulting in an average property tax increase of $13 per year on $100,000 of equalized property value. The $48.8 million would not fund all of the projects submitted to the public in the survey.
The CVTC board must still determine exactly which projects would be proposed in the referendum.