We have been busy since voters approved our construction bond in February! Planning teams for each of the major projects—the Foster High modernization and expansion, the Showalter Middle School modernization and expansion, and the new Birth to Five Center—have convened to hire architects, complete preliminary comprehensive studies, and begin the permitting and paperwork process.
Now it’s time to take the first major step in financing the construction. Moody’s credit-rating agency assessed the district in early May and had great confidence in our financial management. We received a Aa2 rating—one of the best possible—because of our well-managed debt and “stable financial operations with robust reserves.” That’s good news for taxpayers, who will receive the benefit of lower borrowing costs.
The first bond sale of about $65 million will occur Wednesday, May 18. With that underlying funding in place, we will continue in-depth planning for our construction projects with expected groundbreaking in early 2018 for the Foster and Birth to Five projects and summer 2016 for our smaller projects.
- To keep updated about our bond progress, including timelines, renderings, and contact information, visit tuwkilaschools.org/district/about/bond-projects.