The brochure that is in today’s mail emphasizes “local” students but fails to mention that nearly 50% of all the students at SBCC are not local residents! They come from outside the school district.
Do you really want to pay thousands in additional property taxes for the educational facilities for hundreds of thousands SBCC students that don’t live in the district, many of whom are out of county, out of state and out of country?
SBCC BONDS FACT SHEET
* The Santa Barbara Community College District is comprised of Carpinteria, Montecito, The City of Santa Barbara and Goleta. (“The District”)
* The District plans to issue $288,000,000 in bonds, if approved by 55% of voters in The District. The bonds will be issued over a period of 10-years and have a post issue life of 25-years. Interest rates have not yet been determined.
* Specifically what the $288,000,000 generated from the bonds will be used for has not been fully explained at this time.
* The bonds be repaid and financed by the property owners in The District.
* The bonds will add approximately $17.00 for every $100,000 of assessed valuation to the property tax bill of The District’s property owners (residential and commercial) over the 25-year life of the bonds.
* The increased tax bills of residential and commercial property owners to pay for the bonds will raise residential and commercial rents.
* SBCC has a total enrollment of 22,500 students. 10,000 students who are enrolled come from outside The District. They are from other areas in California and come from outside California and from other countries.
* Should The District’s property taxpayers and renters pay an additional $288,000,000 plus interest to finance the education of the future hundreds of thousands of students who do not come from The District?
* This question will have to be answered by the voters of the District.
Regards, Ernie Salomon