A dramatic drop in interest rates assisted by the school district's strong credit rating (Aa2) have resulted in a significant reduction in the cost to Westonka taxpayers for the school building bonds approved by voters in November.  

Cost Reduction of $3.7 million
At the Feb. 6 school board meeting, the board approved the sale of the $29,925,000 in building bonds at an interest rate of 2.1 percent, compared to the August 2011 projection of 3.6 percent. This will result in a cost reduction of more than $3.7 million from original projections.  Read Ehler's comments about the bond sale.

So What Exactly Does this News Mean for Taxpayers? 
On a $300,000 home, instead of a property tax increase of $13.50 per month, the actual increase in 2013 will be $11.20 a month. That is a drop of about $25 per year or 17%. 

Kraus-Anderson Makes the Cut--Selected as Construction Manager for Project     The board also voted to hire Kraus-Anderson as construction manager for the building project based on the recommendation of the School Board's facilities committee. From the five submitted RFPs, the facilities committee selected three firms to interview based on their reputations and the outstanding quality of their proposals. Interviews took place on January 25 at an open meeting. At the conclusion, the facilities committee selected KA for a contracted fee of $962,220.   

"This recommendation is based on a higher level of confidence that KA will be able to deliver the overall project on time and within budget while ensuring a superior level of quality through all phases of the project," said Keith Foerster, facilities committee and board member. For more details on the selection process, click here.

Much Needed Improvements--Made Possible by Your Generous Support   
We are very aware that these much-needed improvements to our district facilities and the learning environment for our students have been made possible by the generous support of our community. I want to reaffirm our commitment to openness and communication concerning the maintenance work and the expenditure of bond funds during the entire process.

Kraus-Anderson and district staff will soon work out a timetable for the planned maintenance projects. Look for another update once the list of projects for this summer is determined.

In the meantime, feel free to contact me with any questions you might have about these projects.  

And again, thank you for your support!

 Kevin Borg

Superintendent
Westonka Public Schools
5901 Sunnyfield Road East
Minnetrista, MN 55364
952-491-8001

borgk@westonka.k12.mn.us  

 
www.westonka.k12.mn.us

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