Are taxpayers ready to let College of DuPage take on more debt?
College of DuPage is close to paying off most of its debt from previous projects. But it also has a wish list of about $168 million worth of work that could be done at the college.
The question may be whether to extend its existing debt for another 20 to 25 years, or allow its debt to expire - and, accordingly, its tax rate to drop.
To answer the question, college officials have launched a community relations campaign aimed at gauging interest in making improvements to the Glen Ellyn campus.
Already in the midst of a construction spree spurred by a 2002 voter-approved tax increase, college administrators say they are seeking guidance from residents about the potential to extend COD's debt service to pay for upgrades to the McAninch Arts Center, library and physical education building as well as improve accessibility and add new space for its Homeland Security program.
The college recently added two new buildings and has broken ground for two other facilities. The groundbreakings are for the campus' new Culinary Arts and Hospitality Center and the Homeland Security Education Center, which is the first phase of a potential $225 million Homeland Security Training Institute.
The college is close to paying off debt from past projects and would need voter support to extend the current tax rate to raise $168 million for the potential projects, said Joe Moore, associate vice president for external relations. He estimated the tax rate extension amounted to between $30 to $35 a year on the tax bill of an owner of a $300,000 house.
The college's board of trustees have not discussed putting a tax question on November's ballot, Moore said.
DuPage Election Commission officials said the COD board has until Aug. 30 to adopt a resolution requesting a tax question be put to voters, and it has to be filed with the commission by Sept. 2.
COD officials are slated to appear at more than two dozen events during the summer to gather input about the public's perception of the college and its future, Moore said. Some appearances are scheduled before service and civic organizations, but college officials will also be stumping at various city council and village board meetings between now and the end of August, Moore said.
The college today is launching a new website, codiscovercod.com, devoted to promoting the effort.
The college will conduct polling as well. Board President Kathy Wessel said there is no target number in place to go forward with a November ballot question.
"We will have this survey done before we make our final decision, though," she said.
Moore said previous surveys have shown that residents support spending for upkeep on the campus.
Wessel said maintaining existing facilities would be a priority of any future spending plan.
"We have beautiful facilities," she said, "but some are aging and we want to make sure we're not getting behind on maintaining them."