2012 Bond Election Meeting your current and future workforce needs
Background Information On Monday, March 5, the Victoria College Board of Trustees voted to place a $22 million general obligation bond on the May 12 ballot.
Growth at Victoria College
Funding will be used for construction, expansion, and renovation projects required to meet enrollment and program growth at VC.
• From Fall 2009 to Fall 2011, academic enrollment increased 12% to 4,514.
The VC Board of Trustees recently approved the Master Plan, which identifies facilities needs for the next decade, including an Emerging Technology Center.
• Workforce & Continuing Education headcount increased 42% to 6,753. • Number of contract training courses increased 45% in same time period.
The Emerging Technology Center will:
• VC will train 350 new Caterpillar employees in the next 18 months
• Support the training needs of current and future students and employers
• Be a solution to one of the biggest challenges facing VC’s Workforce & Continuing Education programs– lack of adequate space for corporate and industrial training • Allow VC to develop new in-demand certificate and degree programs that support the economic development of our community • Free up space on VC’s main campus for the College’s growing academic programs
• Continued expansion of training for petro-chemical, manufacturing and oil & gas industries.
Emerging Technology Center: An Overview The Center will provide: • Customized training for new and existing business and industry • A home for all Workforce & Continuing Education programs currently on VC’s main campus, freeing up space for VC’s growing academic programs • Corporate meeting and conference space • Academic workforce training leading to certificates and degrees in new, in-demand areas such as: • Industrial systems mechanic • Machinist • Oil and gas technician • Logistics and operations management
The 80,000 square foot facility will include: • Specialized training labs for industrial applications • Rapid response labs that can be configured to meet emerging needs • Welding labs • Computer labs for instruction • Traditional classroom spaces • Flexible use rooms for large-scale corporate training events
2012 General Obligation Bond Election FAQs Bonds are a way of raising money to build, renovate, or modernize college facilities and are paid for by local property taxes. In a general obligation bond election, voters have an opportunity to approve or reject long-term financing of the project.
How much will the Emerging Technology Center cost? • The estimated cost of the building, site work, parking, technology, equipment, and furnishings is $22 million.
How will the passage of the bond affect taxes? • Victoria College’s taxing district coincides with Victoria County. • The estimated tax impact would potentially be an additional 2.97 cent tax per $100 of assessed valuation on taxable property.* • There will be no increase in the tax rate on the homestead of those 65 years old or older. • A homeowner with a $100,000 residential property would owe an additional $2.48 per month. The amount could be less if the interest rate on the bonds is lower than projected or tax appraisals are higher.
When is the election? • Early voting: April 30 - May 8 • Election: Saturday, May 12, 2012 • For information on polling places, hours of operation, or early voting, please visit www.vctx.org and click on “County Departments” and then “Elections.”
Victoria College is the provider of choice for workforce training and continuing education, serving many of the region’s largest employers. • Industrial Trades – Process technicians, instrumentation and electronics technicians, welders, commercial truck drivers, pipefitters, electricians, millwrights • Business & Technology – Office administrators, managers, computer technicians, web designers • Public Service – Law enforcement officers, firefighters, paramedics
Proposed Location * Estimates based on current property valuations of $5.2 billion and a 20-year term with an interest rate of 3.25% The current Victoria College tax rate is 16.06 cents per $100 of assessed valuation.
For more information, please contact:
VC Board of Trustees
Dr. Tom Butler, President 2200 E. Red River, Victoria, TX 77901 361-485-6808 Tom.Butler@VictoriaCollege.edu
Ronald B. Walker, Chair Luis A. Guerra, Vice Chair Dr. Josie Rivera, Secretary Robby Burdge Catherine McHaney Thomas M. O’Connor V. Bland Proctor
Meeting the Community’s Needs
• Health Careers – CNAs, LVNs, RNs, medical lab technicians, PTAs, respiratory therapists
VC’s Economic Impact: The Taxpayer Perspective An economic impact study conducted in 2009 by the consulting firm EMSI determined that Victoria College returns $1.60 in economic benefit for every $1.00 of tax funds received.
VC 2012 Bond Election Fact Sheet