I think a strategy of deliberately inconveniencing families in order to keep real estate prices low so the area doesn't gentrify is unethical. I also think the rapid gentrification this will cause / has caused is also a problem. You have to balance the two.
Either way, I still don't see a way out of this other than to build.
I think a strategy of deliberately inconveniencing families in order to keep real estate prices low so the area doesn't gentrify is unethical. I also think the rapid gentrification this will cause / has caused is also a problem. You have to balance the two.
Either way, I still don't see a way out of this other than to build.
TBD what happens with PEP, it was a three year program. Let's see if the PTAs renew it next year.
This is not about inconveniencing families to keep real estate low. It is about the absurdity of the BOE argument justifying the obscene expenditures to build the new school at the outset of this whole disaster.
Tom, I should know this but is there anything prohibiting the bonds be used on major capital improvements for other schools? So not sexy but man, $40M could do a long ways towards improving aging schools.
This is primarily why I think the Board was very stupid here and was mislead by Raymond James. The next largest lease certificate in the state of IL was for about $25m. The reason I would assume most districts don't use lease certificates for big projects like this is because it's a very inflexible funding mechanism, unlike a general obligation bond, etc.
You absolutely cannot do that - the lease certificate is very specific that the funds can only go towards the specified project. My assumption is because the bondholders get a lien on the property.
I think a strategy of deliberately inconveniencing families in order to keep real estate prices low so the area doesn't gentrify is unethical. I also think the rapid gentrification this will cause / has caused is also a problem. You have to balance the two.
Either way, I still don't see a way out of this other than to build.
TBD what happens with PEP, it was a three year program. Let's see if the PTAs renew it next year.
This is not about inconveniencing families to keep real estate low. It is about the absurdity of the BOE argument justifying the obscene expenditures to build the new school at the outset of this whole disaster.
Tom, I should know this but is there anything prohibiting the bonds be used on major capital improvements for other schools? So not sexy but man, $40M could do a long ways towards improving aging schools.
This is primarily why I think the Board was very stupid here and was mislead by Raymond James. The next largest lease certificate in the state of IL was for about $25m. The reason I would assume most districts don't use lease certificates for big projects like this is because it's a very inflexible funding mechanism, unlike a general obligation bond, etc.
You absolutely cannot do that - the lease certificate is very specific that the funds can only go towards the specified project. My assumption is because the bondholders get a lien on the property.