The Fort Bend ISD board of trustees unanimously voted Monday night in favor of a $992.6 million bond program to support future capital projects, calling for election to take place Nov. 6.
The bond will provide the necessary funding to address facility deficiencies, construction projects, renovation work, safety and security measures, transportation needs and technology upgrades, according to FBISD documents. It will be the first phase of implementing a nearly $1.7 billion capital plan, which will require a second bond referendum in 2021, projected to total $705.2 million.
Although the tax rate is expected to remain at $1.32 per $100 valuation for the upcoming budget year, residents will likely see a 3-cent hike in the district’s property tax rate by 2021, said Steven Basset, chief financial officer for FBISD.
A year’s worth of work has gone into the development of the district’s facilities master plan, starting with its comprehensive facilities assessment, board President Jason Burdine said.
“It’s very important for our community to have confidence that our needs assessment was focused and data driven,” Burdine said. “Addressing the district’s capital needs is vital to the continuing success of our district as we prepare our graduates to meet the challenges of the global economy.”
The bond program will serve to provide much needed resources to allow students the best learning environments for success, Burdine said.
“The state of our district is strong, but we cannot retreat,” he said. “We hope our community will once again provide us the support we need as we continue to work to fulfill our mission of inspiring and equipping all students to pursue futures beyond what they can imagine.”