Portland Public Schools voters will decide in May on a $548 million bond measure that would pay for projects for schools and classrooms.
Those projects include:
•Safety updates such as fire and security systems, replacing deteriorated outdoor play areas, replacing unsafe school stage rigging.
•Renovating and updating buildings, classrooms and grounds.
•Rebuilding or comprehensively renovating schools that are not cost-effective to repair piecemeal.
•Retiring debt on school projects.
The work would be funded mainly through a “pay-as-you-go” system, with short-term financing, which saves more than $200 million in interest payments compared to conventional 20-year bond financing.
The bond would cost approximately $2 per $1,000 of assessed property value for six years, reduced to 15 cents per thousand after that, for no more than 20 years in all. The median homeowner would pay approximately $300 a year.
View more about the facilities bond measure, including the ballot measure explanatory statement.
For an outline of the work to be done at Inner NE schools: