Sep 13
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KPB General Obligation Bond, Proposition 2
Media Release
General Obligation Bond, Proposition 2
Soldotna, September 10, 2013—On October 1, 2013, Kenai Peninsula Borough (KPB) voters will be asked to consider $22,987,018 in bonds to repair ten school roofs ($20,995,282) and install a turf field at Homer High School ($1,991,736). These projects have been approved by the State Department of Education for 70% reimbursement under the state debt reimbursement program, which means the state reimburses the KPB 70% of the total cost of the bonds and KPB taxpayers pay 30%.
Voters approved Phase I of the roof school bonds project in 2010; the work was completed in 2011-2013.*
Phase II includes roofs dating back to 1967, is staggered over three years, and provides an opportunity for our local labor force. Many schools have expanded since their original construction date, and different sections of roof were built in phases.
2014
Kenai Alternative High School, Kenai Middle School, Skyview High School, Tustumena Elementary, and Homer High School turf field
2015
Homer Middle School, Kenai Central High School, Paul Banks Elementary, Soldotna Middle School
2016
Ninilchik School, Soldotna High School
“Why bond now?”
- Energy measures, such as increased roof insulation, will be built into the project plans
- The roofs have exceeded their expected useful life and are in need of repair
- The new roof systems include a 20 year warranty, and will cost less to maintain overall
- Take advantage of the 70% state debt reimbursement
Taxpayer 70% Savings on the Bond – Debt Reimbursement Program
- Borough cost: 30% of every dollar
- State Debt Reimbursement Program: 70% of every dollar (approved)
Cost to the borough taxpayer
- $ 6.77 per $100,000 assessed property value (annually)
- $ 472,350 annual net cost to Borough with State of Alaska 70% debt reimbursement program (approved)
The funds are subject to the appropriation process in the Alaska Legislature, as are all funds expended by the State of Alaska.
Borough school district roofs equal 1,861,400 square feet; nearly 43 acres of roof
*History Phase I (2011-2013)
In October, 2010, Kenai Peninsula Borough residents approved Phase I school bonds of $16,865,000 for these KPBSD schools spanning the peninsula from Seward to McNeil Canyon in Homer. The work is complete.
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“It’s important to protect almost a billion dollars in Borough facility assets. This is responsible stewardship.” – Mayor Mike Navarre
Links
- September 11, 2013, Media Release: KPB Bond Proposition No 2
- http://bit.ly/KPBproposition2SchoolRoofs
- PDF: PowerPoint presentation
- PDF: One page bond information handout
- Kenai Peninsula Borough Proposition No. 2 (to be voted on by all voters)
- Kenai Peninsula Borough Elections webpage
Contact
Mayor Mike Navarre, Kenai Peninsula Borough, 907-714-2150, mnavarre@borough.kenai.ak.us
Pegge Erkeneff, Kenai Peninsula Borough School District communications specialist, 907-714-8888, Pegge@KPBSD.org
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