ARTICLE
The Santa Cruz Area Chamber of Commerce recommends that its members and the community vote in favor of the Cabrillo College Bond proposed on the June 7 primary election ballot. Use of Funds: The measure addresses both deferred building maintenance and creates a strategy to sustain existing infrastructure for the next two decades. It will pay for core technology upgrades including campus-wide broadband and reinvestment in existing classroom buildings to optimize their utility and increase their capacity. It will fund the purchase of up-to-date equipment necessary to prepare future local workers in STEM disciplines and in professions from health care and accounting to auto mechanics and agriculture. It invests in water and energy reduction strategies that have both operations-cost and environmental benefits. And, it will refinance all existing bond debt to reduce the interest rates paid. Cabrillo's Role: Cabrillo is both the principal local resource for training and retraining of residents to be successful participants in our workforce and a fundamental element in many local students' pursuit of an affordable bachelors degree. As the capstone of Santa Cruz County's K-14 education system its continued excellence is also integral to the attraction of workers to Santa Cruz County. As a community with a high cost of residency, top quality education and workforce development are fundamental elements of our local economic development strategy. Community's Role: While the State of California provides significant support for education, it places the burden on communities to pay for the infrastructure of its K-14 system. Community Colleges receive about one-half of the per-student funding that the state provides to California State University institutions and about one-third as much as UC institutions. Cabrillo's last bond issue, Measure D passed in 2004, provided funding for new facilities including the purchase and development of the Watsonville Campus, the Crocker Theater, a wellness center, and the Solari Green Technology Center. While it also provided for maintenance and some remodeling of older campus buildings, Measure D did not fund now-long-deferred maintenance for most of the campus' buildings. California Community Colleges historically fund such maintenance and improvement bonds every six years. The proposed maintenance and improvements are both necessary and predictable funding requirements. Structure of the Measure: The Cabrillo Board of Trustees evaluated several alternatives for this financing. They have chosen to both bundle the deferred maintenance, projected future maintenance, and the refinancing of the remainder of higher-interest rate bonds into a single initiative. The funds will be drawn in five issuances every 3 years and used over a fifteen-year period. The measure provides for some flexibility in both timing and choice of projects. It does not provide for increasing the footprint of the existing infrastructure. The trustees have chosen to bundle these projects into a single bond measure, eliminating the need and cost for another similar election six years from now and reducing the bond administration costs. The Chamber board of directors believes that quality education is a fundamental element of the economic infrastructure without which Santa Cruz County cannot thrive. Cabrillo has proven to be both stable and adaptable in addressing students' needs and fulfilling its role in our local economy. The proposed measure has been vetted by Cabrillo's capable board of trustees. The Chamber recommends a "yes" vote on this measure.
The Santa Cruz Area Chamber of Commerce recommends that its members and the community vote in favor of the Cabrillo College Bond proposed on the June 7 primary election ballot.
Use of Funds: The measure addresses both deferred building maintenance and creates a strategy to sustain existing infrastructure for the next two decades. It will pay for core technology upgrades including campus-wide broadband and reinvestment in existing classroom buildings to optimize their utility and increase their capacity. It will fund the purchase of up-to-date equipment necessary to prepare future local workers in STEM disciplines and in professions from health care and accounting to auto mechanics and agriculture. It invests in water and energy reduction strategies that have both operations-cost and environmental benefits. And, it will refinance all existing bond debt to reduce the interest rates paid. Cabrillo's Role: Cabrillo is both the principal local resource for training and retraining of residents to be successful participants in our workforce and a fundamental element in many local students' pursuit of an affordable bachelors degree. As the capstone of Santa Cruz County's K-14 education system its continued excellence is also integral to the attraction of workers to Santa Cruz County. As a community with a high cost of residency, top quality education and workforce development are fundamental elements of our local economic development strategy. Community's Role: While the State of California provides significant support for education, it places the burden on communities to pay for the infrastructure of its K-14 system. Community Colleges receive about one-half of the per-student funding that the state provides to California State University institutions and about one-third as much as UC institutions. Cabrillo's last bond issue, Measure D passed in 2004, provided funding for new facilities including the purchase and development of the Watsonville Campus, the Crocker Theater, a wellness center, and the Solari Green Technology Center. While it also provided for maintenance and some remodeling of older campus buildings, Measure D did not fund now-long-deferred maintenance for most of the campus' buildings. California Community Colleges historically fund such maintenance and improvement bonds every six years. The proposed maintenance and improvements are both necessary and predictable funding requirements. Structure of the Measure: The Cabrillo Board of Trustees evaluated several alternatives for this financing. They have chosen to both bundle the deferred maintenance, projected future maintenance, and the refinancing of the remainder of higher-interest rate bonds into a single initiative. The funds will be drawn in five issuances every 3 years and used over a fifteen-year period. The measure provides for some flexibility in both timing and choice of projects. It does not provide for increasing the footprint of the existing infrastructure. The trustees have chosen to bundle these projects into a single bond measure, eliminating the need and cost for another similar election six years from now and reducing the bond administration costs. The Chamber board of directors believes that quality education is a fundamental element of the economic infrastructure without which Santa Cruz County cannot thrive. Cabrillo has proven to be both stable and adaptable in addressing students' needs and fulfilling its role in our local economy. The proposed measure has been vetted by Cabrillo's capable board of trustees. The Chamber recommends a "yes" vote on this measure.