Moving forward with Jefferson — Board approves bids for new Jefferson Early Childhood Center, authorizes a resolution for a lease agreement
After engaging the community to develop a plan to construct a new early childhood center without raising taxes, our community came together to solve the issues surrounding Jefferson Early Childhood Center — the November 6 referendum question was approved with a 72% margin.
At a Special Meeting last night, the Board of Education took two important steps to move the project forward following the review of the official canvass from November 6th General Election. The first action was to approve a 20-year lease agreement between Zions Bank (lessor) and the District. The District will act as an agent of the Lessor to construct the building. Lease certificates will be sold via a competitive sale to provide the capital for the lease. The projected lease payment is just under $970,000 per year, with the actual lease payment to be determined once the lease certificates are sold. The District allocated $1 million for the lease payment in the 2018–2019 operating budget, allowing the Board to maintain a balanced budget, something they have done for the last nine years, and will continue to do so moving forward.
The Board of Education also approved construction bids for a new Jefferson Early Childhood Center. The Board is expected to break ground on the new building in mid-January. Once a groundbreaking date is finalized, we will inform the community as all are welcome to attend and celebrate in the exciting event. The new school is expected to be ready for students at the start of the 2020 School Year. Pictures of the new building are on the District website. The program and budget summary are available online.
Our Board and community are finally moving forward with an important, critical project — a new Jefferson Early Childhood Center. Last night’s Board actions are the result of several years of hard work on behalf of the Board and community to collaboratively determine a solution to our early learning facility needs. The Board and District will continue to collaborate with you, our community, on the future of our schools, reduce costs and be fiscally responsible and provide our children a 21st century education.