Hamilton County Commission Passes $260 Million Bond
Chattanooga, TN — In a groundbreaking decision, the Hamilton County Commission has unanimously passed a $260 million bond issue. This move marks a significant stride towards addressing the longstanding facilities crisis within the county’s joint school system.
Largest Bond in County History
Hamilton County Schools Superintendent Justin Robertson referred to the bond issue as “the most aggressive step toward facilities in the history of the joint school system.” The commission’s decision comes after years of postponed funding for essential school facilities. With bond interest payments estimated to total $112 million over a likely 20-year payback period, the county is making a historic financial commitment.
Financial Commitment and Bond Details
“We are going to have to be really frugal with government spending,” stated Commission Chair Jeff Eversole. The county typically limited bonds to 15 years, but extending this to 20 years aligns with common practices across Tennessee. The costs of delaying projects were highlighted, citing examples like the Tyner school project, which ballooned from $76 million to nearly $100 million due to delays.
Planned School Projects
The long-awaited bond funds will be allocated to several significant school projects:
- North River Elementary: Slated to receive $42 million.
- Gateway School: Will receive $40 million.
- Soddy Daisy Middle: Allocated between $25 million and $30 million.
- Brainerd/Dalewood 6-12: Expected to get between $25 million and $30 million.
- Clifton Hills Elementary: Will receive $10 million to $20 million.
- Thrasher Elementary: Designated to receive $5 million.
The highest line item, deferred maintenance, will get $60 million to tackle urgent repairs and upkeep. However, project priorities and numbers may shift as work progresses.
Permanent Space for Government Employees
In addition to the bond issue, the commission also approved a resolution providing permanent space for county economic development staff within the Small Business Development Center. This move aims to foster stronger connections between county employees and local businesses.
Economic Development Strategy
Some commissioners voiced concerns about dedicating space that could otherwise be utilized by small businesses. Nevertheless, the unanimous approval highlights the county’s strategic goal of enhancing partnerships rather than acting as a mere landlord.
“We believe it is important to be connected as partners,” said Cory Gearrin, the county’s deputy mayor over economic development. This sentiment echoes the county’s broader ambitions to serve as a catalyst for entrepreneurial growth and a robust local economy.
