At its October 17 meeting, the Trustees approved (3-1) a three-year extension of the Shoreline Education Enhancement Reserve agreement. Under this agreement, $6.5 million, which represents a portion of the tax revenues diverted to the Shoreline Regional Park Community, will be returned to MVWSD. Last night’s vote marks a significant step forward in the ongoing process of partnering with the City on a solution for how to share tax revenue from the Shoreline area.
While the Trustees acknowledged the need for a long-term solution, they agreed that approving a short-term agreement allows MVWSD to demonstrate its commitment to collaborating with the City for the benefit of students and families. It also secures critical funding for school programs and services in the interim.
Trustee Laura Blakley expressed her desire for MVWSD to eventually receive a larger portion of the Shoreline tax proceeds. “I’m hopeful that this doesn’t take the pressure off of the mutual willingness to actually have meetings and discuss finalizing a permanent agreement,” she said.
The City values our community’s schools, said Mayor Pat Showalter at the meeting, “and want to continue paying the district the annual $6.5 million payments at a minimum.”
The Trustees hope to finalize a long-term agreement well before the current three-year extension expires in 2027. To watch the discussion, click here. To read the agreement, click here.
|