DETROIT (WXYZ) - Detroit Public Schools’ Emergency Financial Manager Robert Bobb is inviting the public to attend a series of public town hall meetings to hear details of Proposal S, a bond referendum which seeks to take advantage of $500 million in stimulus dollars that President Barack Obama made available to build new schools and modernize existing schools.
“Proposal S will greatly improve the district’s progress toward creating safe, new, state-of-the-art Centers of Excellence in every neighborhood and every school,” Bobb said.
The Obama stimulus funds must be spent in 2-½ years. If districts do not use these funds, they will lose them. More than 100 school districts nationwide were awarded funds.
The funds will allow DPS to build eight new schools and modernize 10 schools in the next 2-½ years and to make other safety, technology or quality of life improvements.
Voters will have an opportunity to consider Proposal S on the Nov. 3 ballot. If voters do not approve Proposal S, stimulus funding will be lost.
There would be no tax increase if Proposal S is approved. Taxes will remain the same.
District officials will offer details on Proposal S, including information to explain how nearly half of the bonds will be repaid at a 0 percent interest rate.
The extremely low interest rates mean DPS will save more than $123 million in principal payments – enough to build two brand new schools (Munger PK-8 and Mumford High School) and modernize two more schools (Northwestern High School and Western International High School).
The district will also explain how, according to the State of Michigan’s formula, Proposal S will create nearly 11,000 jobs and will result in $500 million being spent in Detroit neighborhoods in a 2-½ year period beginning in January 2010.
Bobb also will accept invitations from any community or school groups, senior citizens or any others to make a presentation on Proposal S.
The dates of the Town Hall meetings, open to the public, are as follows:
Sept. 22 Finney, 4180 Marlborough Street, at 5 p.m.
Sept. 23 Maybury, 4410 Porter Street, at 5 p.m.
Sept. 28 Bethune, 10825 Fenkell Street, at 5 p.m.
Oct. 5 Henry Ford, 20000 Evergreen Road, at 5 p.m.
Oct. 6 JR King, 15850 Strathmoor Street, at 5 p.m.
Oct. 7 Southwestern, 6921 W. Fort Street, at 5 p.m.
Oct. 8 Mumford, 17525 Wyoming Street, at 5 p.m.
Oct. 12 Western International, 1500 Scotten Street, at 5 p.m.
Oct. 14 King HS, 3200 E. Lafayette Street, at 5 p.m.
Oct. 14 Marcus Garvey, 2301 Van Dyke Street, 7 p.m.
Oct. 20 Cooley, 15055 Hubbell Avenue, at 5 p.m.
Oct. 20 Duffield, 2715 Macomb Street, at 7 p.m.
Oct. 27 Northwestern, 2200 W. Grand Boulevard, at 5 p.m.
Oct. 29 Mark Twain, 12800 Visger Street, at 7 p.m.
