The downgrade of the San Diego Unified School District\u2019s (SDUSD) long-term credit rating and unknowns over school closures are raising questions about the status of Proposition S dollars and the future school projects they are intended to fund. Prop. S is the $2.1 billion general obligation bond measure passed by voters in 2008 to repair schools. At the Nov. 1 school board meeting, Ron Little, chief financial officer for the district, said downgrades by Moody\u2019s Investor Service and Standard and Poor\u2019s Rating Services would increase the cost of long-term borrowing for the district\u2019s general obligation bonds. Lee Dulgeroff, executive director for the district\u2019s facilities planning and construction arm, told the board that Prop. S projects are increasing in cost and the program will now take 15-20 years to complete instead of the planned 10 years. He said to fulfill all projects, it will be cost more than $2.1 billion. He estimated the increase to between $10 million to $140 million, depending on the costs to issue bonds. In his recommendation to the board, Gil Johnson, chairman of the Independent Citizens Oversight Committee that oversees Proposition S funds, said if the district moves ahead with its plan to close schools, the following action should be taken: \u2022 There should not be any additional Prop. S-funded work done on schools to be closed. \u2022 Any money that is saved from canceled construction work should not be used for new projects or to reshuffle existing project sequencing or priorities. \u2022 Any funds saved should be used to accelerate existing Prop. S projects in accordance with original priority sequencing. A multitude of projects, estimated to cost $40 milllion to $50 million, are slated for Point Loma\u2019s 10 schools. Added to the cluster\u2019s Prop. S list after the bond passed was a $9 million multi-field sports complex at Correia Junior High. Carey Dawidzik, who has been instrumental in the new lacrosse program at Point Loma High School, made a plea to the school board Tuesday to make the Correia complex a Prop. S priority. She told trustees that Point Loma is one of the smallest high schools in the district with limited playing fields. She said Correia was a good option because it\u2019s safe walking distance through nice neighborhoods from Point Loma High School and could be used for other non-sporting events like band and cheer squads. Trustee Scott Barnett said he told the community there is no Prop. S money allocated for Correia, but believes funds could be raised to make it a reality. Options to fund the project could be individual fundraising efforts or use of Prop. S funds from other Point Loma schools.<\/p>","protected":false},"excerpt":{"rendered":"
The downgrade of the San Diego Unified School District\u2019s (SDUSD) long-term credit rating and unknowns over school closures are raising questions about the status of Proposition S dollars and the future school projects they are intended to fund. Prop. S is the $2.1 billion general obligation bond measure passed by voters in 2008 to repair […]<\/p>","protected":false},"author":726,"featured_media":283083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"11561","_seopress_titles_title":"After credit downgrades, Prop. S school money may be new battlefield","_seopress_titles_desc":"","_seopress_robots_index":"","jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[11551,11561],"tags":[],"class_list":["post-283082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-peninsula-beacon"],"_links":{"self":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts\/283082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/users\/726"}],"replies":[{"embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/comments?post=283082"}],"version-history":[{"count":0,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts\/283082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/media\/283083"}],"wp:attachment":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/media?parent=283082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/categories?post=283082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/tags?post=283082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}