Summary: A New Jefferson
Early Childhood Center
Board Planning
Adopted: July 18, 2012….
District Goal 3: We will achieve long-term financial
stability by managing District resources prudently.
2012-2013 Board Goal:
Determine community support for resolving major facility
issues, i.e., Jefferson and the School Service Center.
– Jefferson Core Team
– Finance Committee
Community Engagement
With the understanding of current facility challenges
and the need for a new Jefferson, the Board sought
community feedback.
• Summer/Fall Community Forums
• Fall Survey of the community
Community Engagement
Forum & Survey Feedback:
• Quality of education rated excellent or good
• Quality of student experience rated excellent or good
• Focus on schools and build only a new Jefferson
Community Engagement
Forum & Survey Feedback:
• Priorities for future facilities:
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–
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Provide for the safety & security of students
Create an appropriate learning environment for students
Accommodate students with disabilities
Take an innovative, forward-thinking approach
Keep repair and renovation costs as low as possible
Renovate facilities to support academic and extracurricular student
experiences
– Maintain green space that is open for public use
The Investment
“Courtyard” Building Design
The Investment
Building design is program-driven and features:
• 2006 design vs. 2012 design
• 20 fully accessible classrooms
• Classroom size is program-driven and includes space for
interactive learning centers and integrated therapy
• Motor room for physical and occupational therapy
• Sensory playground for secure outdoor hands-on learning
The Investment
Building design is program-driven and features:
• Fenced green space open to the community after school hours
• Safe & secure on-site pick-up and drop-off
• Storm water management system
• Collaborative planning space for instructors & specialists
The Investment: $17.6 Million
Project Financing:
• The Board of Education will issue bonds to pay for a new Jefferson
Early Childhood Center.
• Sale of up to $17.6 million in bonds WILL NOT extend the time
length of existing debt of District which ends in Levy Year 2023.
• Some principal will be amortized annually.
• Interest rates are at or near historical lows.
• District may issue debt in two bond sales to minimize interest
rates and only issue debt as needed to remain fiscally responsible.
The Investment: $17.6 Million
Wheaton-Warrenville 200
Total Debt Service with $17.6 Million Referendum
Option 2 - Some Principal Amortized Annually without Extension
35000000
30000000
25000000
20000000
15000000
10000000
5000000
0
2012
2013
2014
2015
2016
2017
2018
Existing Debt Service
2019
2020
2021
$17.6 Million Referendum
2022
2023
2024
2025
2026
2027
Levy Year
The Investment: $17.6 Million
Annual Tax Rate Impact in Levy Years 2013 - 2022
Referendum Amount
$17.6 million
Estimated Net Debt Service
$23.4 million
Estimated Annual Tax Payment
Increase*
$200,000 home
$19 / year
$300,000 home
$30 / year
$400,000 home
$40 / year
$500,000 home
$51 / year
*Actual tax rates and payments may vary based on EAV growth, state law changes,
property tax rate initiatives and other factors. Includes $6,000 homeowner
exemption. The estimated tax rate increases do not include the impact from existing
debt service.
The Investment: $17.6 Million
Wheaton-Warrenville 200
Total Debt Service with $17.6 Million Referendum
Option 2 - Some Principal Amortized Annually without Extension
35000000
30000000
25000000
20000000
15000000
10000000
5000000
0
2012
2013
2014
2015
2016
2017
2018
Existing Debt Service
2019
2020
2021
$17.6 Million Referendum
2022
2023
2024
2025
2026
2027
Levy Year
The Investment: $17.6 Million
Annual Tax Payment Impact in Levy Year 2023
Home Value
(Assuming 3% annual
increase in Value)
Decrease in Debt Payment Decrease in Debt Payment
for Existing Debt
including Jefferson Debt
(Blue to Blue)
(Purple to Purple)
$200k home
-$461
-$237
$300k home
-$708
-$364
$400k home
-$955
-$491
$500k home
-$1202
-$617
Final Year will be different as referenced on the debt service graph. Tax
payment impact for taxpayers is expected to DROP in final year of debt
service- even with the anticipated Jefferson debt.
Jefferson Early Childhood Center
Referendum
Tuesday, April 9, 2013