OSFC Funding
OSFC funding is a wonderfully complicated way of building schools, one that only a government entity could have come up with, as there are many strings attached and conditions to meet.
Pickerington's number is around the 312 mark that you mentioned. It is anticipated that, at the current rate, we will be up for our turn in 4-5 years. At that time, the OSFC would review our master plan, make their determinations as to what THEY believe our district needs, and look at what funding has been put in place to ensure the plan coming to fruition. If your plan meets all their guidelines, you are eligible for (I believe) UP TO a 50% matching level. If you have something in your plan that OSFC does not believe is warranted, all the money for that ''extra'' space must come from Local Funding Initiatives, or taxes as normal people would call them.
I believe PLSD is currently eligible at a 40% funding rate. That may change when their number comes up. When your turn on the list is over, you go to the back of the line, and start all over again. Of course, there is no guarantee that OSFC or any other type of state funding for building schools will be available whenever that next turn would come up. The bulk of the current round of funding is money appropriated from the tobacco settlement, and the legislators have been raiding that fund for things ever since they received the first payment. It was supposed to be used for health care initiatives, if I recall correctly.
The board must look at the pros and cons of OSFC funding, and determine whether or not they want to strive to meet all their guidelines. Meeting their guielines may possibly mean a higher cost in the long run. A number of local districts, Hilliard, and (I believe) Westerville come to mind, have decided not to apply for OSFC money. Of course, they have a business tax base to help that we in Pickerington do not.
I know Mr. Riegelman reads these boards, so if he can clear up anything I have gotten wrong inadvertantly, it would be appreciated.