We have a crucial Sinking Fund proposal on the ballot Tuesday, August 2, 2016. The proposal is smart, responsible and affects your property value.
I don’t have school-age children, so I don’t personally utilize our school district, but 30 years selling real estate has proven to me that the quality of the schools in the district in which I live is foundational to maintaining the value of my home.
Why am I in favor?
A Sinking Fund is a very smart, affordable and financially responsible method of paying for capital repairs and improvements in which the state will not contribute. It’s like a savings account that the district accesses to pay for repairs and maintenance. By using the funds from this account, we avoid unnecessary costs of interest and fees associated with bonds and loans saving residents money in the long run!
There is strict accountability. The state has strict rules regarding how districts may use a sinking fund. For example, it cannot be used for operating costs including salaries. There are harsh penalties for abusing a sinking fund making it a wise decision for taxpayers.
It is affordable. The cost would be about $200 per year for a home with a value of $200,000. While the terms of sinking funds vary, they must be clear on the proposal. This particular proposal is 2 mils, and it ends in 10 years; it isn’t permanent.
The WHY. Orion residents failed the last two millage proposals; this is long overdue. I think of Orion as a young, vibrant community and was surprised to learn that of the 15 buildings utilized by the Orion school district, eight buildings are more than 40 years old, and four are 60 years or more. Even with the superior care taken by our district in maintaining our buildings, fixtures have a life span.
The need is real. Our community needs this sinking fund.
Join me in voting YES on Aug. 2, 2016. It benefits everyone for this proposal to pass.
There is some great information in the ballot proposal link below: