Mountain View Whisman School District
Agenda Item for Board Meeting of 6/15/2023
Agenda Category: REVIEW AND ACTION
Agenda Item Title: Short Term Educational Enhancement Reserve (EER) JPA Agreement (10 minutes)
Estimated Time: 10 minutes
Person Responsible: Ayindé Rudolph, Ed.D., Superintendent
Rebecca Westover, Ed.D., Chief Business Officer
Background:
Residents value schools as an important community service. MVWSD provides educational excellence at a bit of a disadvantage, however. Some revenue that would otherwise go to our schools comes from the Shoreline Regional Park Community, a special tax district that redirects tax revenue from MVWSD to the City. The City redistributes a portion back to the schools, but it is only 38% of MVWSD’s entire share.
To continue to provide the same quality of education as our community grows, the District will work with the City to increase the Shoreline Regional Park Community tax increment to properly fund the influx of new students. This short term agreement is for one year until the City and Districts are able to come to a longer term agreement.
Fiscal Implication:
Minimum of $5,686,415.
One time additional payment equal to 10% of the adjusted payment for 2023-24 year.
The adjusted payment for the 23-24 year will be calculated by applying the same percentage change in property tax revenues compared to the preceding fiscal year to the minimum payment.
The District will also receive annual new residential property tax payment (NR-PTP) based on the residential property development that occurs after December 12, 2017.
Recommended Action:
It is recommended that the Board of Trustees approve the Short Term Education Enhancement Reserve Joint Powers Agreement, as presented.
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