CMS needs $5.25 billion for 125 projects. Here’s how it could pay for them in 2023
Charlotte-Mecklenburg Schools says it needs more than $5.25 billion to complete 125 projects — from new schools to athletic facilities.
Some of that $5.25 billion could be on November 2023 ballots. CMS Chief Operating Officer Brian Schultz discussed a bond referendum during a joint meeting with county commissioners Monday and offered the list of projects as a starting point. Next, the county and school board will revise the list in January, ask the public for input and decide a final price tag.
It’s unclear until then how much CMS will ask voters to borrow and which projects it will prioritize.
Mecklenburg commissioners chair George Dunlap said it’s CMS’ role to determine which schools and projects are included in the bond package. The county’s role is to share concerns and ask questions before approving the referendum for the ballot, he said.
“I don’t want anybody to get misled in thinking that you get to dictate which school gets built, when it gets built and for what reason they did build it,” Dunlap told commissioners. “We only approve the amount of it.”
Newly elected District 6 CMS board member Summer Nunn made a case for a 2023 bond referendum and working with the county to lobby the state for more funds during Monday’s meeting.
“We way invested more in my education than we are in my children’s education,” Nunn said. “The reality is, if you look at what things cost today, we are under investing versus what it was there.”
CMS bond referendum history
The last CMS bond package voters approved in 2017 was just shy of $1 billion, CMS’ largest ever. A replacement for Briarwood Elementary, a new East Mecklenburg High School and the new Palisades High School are three examples of completed construction from that referendum.
From the 2017 bond package, $119.6 million is still yet to be spent on 15 projects. Of those, 12 are under construction and three are in the design phase.
Voters last rejected a school bond referendum in 2005, when 57% of voters said “no” to $427 million to build and renovate schools. The denial came after months of frustration with taxes and CMS leadership, The Charlotte Observer reported at the time.
Like 2017, the new bonds would be general obligation bonds, meaning they’re backed by Mecklenburg County’s ability to levy taxes on its residents.
Schultz said it’s likely that the final cost of needed projects will follow a similar path as 2017 — growing pricier.
In 2010, it cost $52 million to build Rocky River High School. The Ardrey Kell and South Mecklenburg relief high school currently under construction is expected to cost $130 million. They’re “essentially the same facility,” Schultz said.
Because general obligation bonds rely on taxes, Dunlap said the county is undergoing a revaluation this year that could also affect resident taxes. The latest study of market transactions show Charlotte real estate values increased 51% from the last revaluation in 2019 — but commissioners won’t begin conversations about setting the tax rate until spring.
In the November midterm elections in Wake County, voters approved a $530.7 million public school bond to build five new schools and renovate seven schools.
What projects could be in the CMS bond referendum?
The projects CMS can fund with $5.25 billion include a partial replacement school for South Mecklenburg High School, a new Second Ward medical and technology high school, a replacement school for Cornelius Elementary and other new construction.
Other projects include demolitions to unused buildings, adding specialty classroom space, new athletic facilities and renovations.
This story was originally published December 19, 2022 at 6:11 PM.
