The Oregon Department of Education recently announced that it would provide $10.2 million in matching funds for Gladstone schools, if a bond measure passes within the next year, which is a significant increase from the $6 million that the state offered if a measure had passed in May.
Thank you to the more than 50 Gladstone parents, staff and citizens who joined us in November at a facilities bond conversation with our school board and superintendent to learn more about our facilities needs and to provide input on potential building improvements that could be funded. As in previous community engagement sessions, most citizens recognized the importance of addressing aging infrastructure to ensure safe and conducive learning environments for students while protecting the community’s investment.
Many of Gladstone’s more than 50-year-old schools have systems (like HVAC and roofing) at the end of their useful life, according to the 2023 report by BRIC Architecture. Architects and engineers who completed the district’s facilities assessment report spotlighted known urgent facilities needs at all four of our school buildings.
We are grateful for the school bond that Gladstone voters approved in 2006, which allowed the district to establish the Gladstone Center for Children & Families and renovate/expand Gladstone High School. We recently created a webpage to provide greater transparency for how 2006 bond funds were spent. Now we have the opportunity to make additional needed investments.
Gladstone’s current bond debt will mature by 2027, freeing capacity for needed investment in our school building financed through bonds with voter approval.
At a recent school board meeting in December, financial services firm Piper Sandler advised the Gladstone School Board to incorporate a 1.5% interest rate cushion for future bond modeling, with 10-year and 20-year bond terms considered typical for similar districts.
Gladstone School Board members are considering whether to refer a measure to voters for consideration on a future ballot.