Palm Beach County School district can’t borrow before 2023

Jul 7, 2011 by

To build enough new schools to meet the growing demand of students during the past few decades, the

 

 

has had to borrow more than $1.8 billion.

Because of all the construction and a state-imposed cut to the school’s property tax rate, the district will be unable to borrow anymore money until 2023, according to district officials. Meanwhile, officials say the district has school buildings that are more than 50 years old that should be rebuilt, and little if any way to raise the money to rebuild them.

“We don’t have the money to do what we need to do,” Facilities Management Chief Joe Sanches told school board members at a June 22 meeting. “If we wanted to bring everyone up to an acceptable level, we need more money.”

The district has built 91 new and replacement schools since 2000. Though a few modernization projects such as rebuilding Galaxy Elementary School in Boynton Beach are in the works, the district does not plan to add new schools for at least 10 years. District enrollment projections for the next five years do not predict many schools exceeding capacity.

via Palm Beach County School district can’t borrow before 2023.

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