Cuyahoga Community College Bond Issue (for capital expenses)
Issue 61 on the ballot. Ballot language: Shall bonds be issued by the Cuyahoga Community College District for the purpose of paying the costs of acquiring, constructing, furnishing and equipping the capital facilities, or such other acquisition of sites, erection, furnishing and equipping of buildings, or acquisition, construction or improvement of property in the principal amount of $227,500,000, to be repaid annually over a maximum period of 25 years, and an annual levy of property taxes be made outside of the ten-mill limitation, estimated by the County Fiscal Officer to average over the repayment period of the bond issue 0.5 mill for each $1 of tax valuation, which amounts to 5 cents for each $100 of tax valuation, commencing in 2017, first due in calendar year 2018, to pay the annual debt charges on the bonds and to pay debt charges on any notes issued in anticipation of those bonds?A majority affirmative vote is necessary for passage.LEAGUE EXPLANATION: Cuyahoga Community College is asking voters to support a 0.5 mill bond issue that will fund construction and renovation projects at its campuses. The 25-year bond issue would generate about $227 million for the college. The owner of a $100,000 home would pay less than $1.50 per month, or $18 per year, for 25 years.
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Yes - For the Measure
No - Against the Measure
Pro and Con Arguments For and Against the Measure
1. This bond issue will increase the property tax of the owner of a $100,000 home less than $1.50 per month, or about $18 per year, for 25 years.
2. Targets dollars for facilities improvements, thus preserving other dollars for instruction.
3. Allows CCC to improve its facilities in support of its enrollment increases and its importance to the development of the region's workforce.
4. Local fiscal support is crucial to a "community college," allowing the college to fulfill its purpose and survive.
5. Expenditures are targeted to enrollment-growth locations.
1. Cuyahoga County taxpayers currently pay two property taxes to the college. The taxes, passed in 1009 and 2014--both for a 10-year period--total $126 a year for the owner of a $100,000 home. This bond issue would increase that same homeowner's annual property tax for CCC to $134.
2. Ballot language is not clear about the length of time the levy will exist.
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