(Beaver Dam) Officials with Moraine Park Technical College held a forum in Beaver Dam this week in advance of a fall referendum. The $55-million-dollar question seeks to upgrade facilities and address workforce training needs.
Construction would be split up in to four major projects.
A combined $27-million-dollars would go towards updating the Fond du Lac campus’ manufacturing and trades wing as well as its health and human services facility.
Another project would see roughly $18.5-million-dollars spent on building a 46,000 square foot addition for its welding and fabrication program at the West Bend campus.
Just over $9-million would go towards building a new fire training facility, possibly in Horicon.
College President Bonnie Baerwald says if approved, the referendum would be financed over a 20-year period with initial borrowing taking place next spring.
“We would not borrow the full $55-million-dollars up front because we have to have the projects defined, planned, and approved…before they can be put forward for borrowing,” says Baerwald.
“But if we did borrow all $55-million-dollars next spring the next evaluation year, the cost would be 21-cents per thousand-dollars of value. For a $100-thousand-dollar value, its $21-dollars per year.”
Baerwald says the College is (quote) “very fiscally conversative” and historically borrow for facility remodels or additions over a ten-year period. She notes that it is still uncertain if MPTC would need the full 20 years to pay off its borrowing, but it is available to them.
The tax burden would also be spread across the College’s district which includes four counties and portions of six others.
“This service area encompasses 131 municipalities which means that the tax burden is covered by all 131 municipalities and its not centralized in one particular community or county,” says Baerwald.
Click HERE for more information about the referendum.
