Notice Post < Previous
CST
Schools Must Refuse to Guarantee Housing Bonds
3501 Civic Center Dr #330
San Rafael, California 94903
10:30 AM PT
If you care about the future of Marin’s schools and the children they educate, speak up NOW to oppose the efforts of Marin County and its Office of Education to make school districts financial guarantors of the 135-unit Oak Hill workforce housing project at San Quentin.
Parents should be alarmed. As explained in the op/ed below, shortfalls in Oak Hill rental income would obligate participating districts to make payments to bond holders with money that was intended for teaching and maintaining school facilities.
If the county believes the Oak Hill WFH project is essential and financially viable, they should come forward with an alternative funding approach.
Discussion and a vote to approve a resolution to further advance this ill-conceived proposal to put schools at financial risk for the next 40 years will commence at around 10:30 a.m at the Board of Supervisors meeting this Tuesday, April 15.
We urge community members to speak in person or online at the meeting or email BOS@marincounty.org (less effective). Demand that the County not ask nor permit school districts to be financial guarantors of risky housing.
A similar guarantor resolution will also be on the College of Marin’s agenda this Tuesday April 15 at its 2PM board meeting.
Of greatest concern is the San Rafael City Schools’ consideration of Oak Hill guarantor program, as SRCS may end up committing the largest guarantee of any Marin district or agency.
Be sure to speak up at or before Oak Hill is considered at SRCS’s April 21 6PM board meeting.
Organization: CO$T
Website: https://sensibletaxpayers.org/contact-us/