South Orange County Economic Coalition Opposes Measure M

Dear Chamber Friends and Coalition Partners:

Businesses large and small operating in south Orange County are starting to learn about the extensive impacts of the massive general obligation bond proposed by the Capistrano Unified School District. And they don't like what they see.

If you are one of them, we invite you to join our growing coalition of business and community leaders throughout south Orange County opposing Measure M.

The South Orange County Economic Coalition (SOCEC), Orange County Business Council (OCBC), and area Chambers have long supported investment in our region's future workforce. We must ensure that our local schools, which rank among the top in the state, have the facilities, supplies and technology they need. To that end, we have stood side by side with local school districts to fight for funding necessary to keep our students competitive in the 21st century workforce.

However, we also support good stewardship of our education dollars.

Unfortunately, Measure M does not represent wise use of taxpayer money nor has the District demonstrated to voters and others in our community why this extremely large bond amount is necessary.

If passed, Measure M would generate $889 million in general obligation bonds to fund unspecified school facility improvements. The bond would be paid back through an estimated tax levy of $43 per $100,000 of assessed value for the next 35 years. During that time, if you include interest and fees, property owners and local business owners would be on the hook for a total of approximately $1.8 billion.

This bond also relies on approximately $270 million in funds from the state that would only be available if voters pass Proposition 51 in November. Not a guarantee.

What's more troubling to local businesses is the fact that Measure M taxes would not be limited to actual property. Local businesses would also be taxed for unsecured property such as business office improvements, office fixtures and equipment such as copiers and printers, as well as personal property like RVs, boats and jet skis.

This tax would be in addition to the Mello-Roos tax already being paid in several communities within the District.

What does this mean for our region's businesses? Higher office rent as landlords pass on the costs of higher taxes to their tenants. Cities and special districts such as water districts and other public agencies would experience reduced borrowing power as a result of this huge new debt.

For these and several other reasons, we are forming an alliance of south Orange County business organization - including the region's Chambers of Commerce - throughout the Capistrano Unified School District that would jointly announce and continue to voice their opposition to Measure M.

These organizations include: The Chambers of Commerce of San Clemente, Dana Point, Laguna Niguel, Rancho Santa Margarita, Ladera Rancho and Aliso Viejo along with SOCEC and OCBC who are on record as opposing Measure M.

Please visit EconomicCoalition.com/advocacy to join our alliance of Chambers and other business organizations throughout the Capo Unified School District urging voters to defeat this massive bond by voting NO on Measure M. Tell CUSD to come back with a smaller, more realistic bond total that still allows the District to leverage state matching funds, if available, and addresses its most critical facilities improvements.

Thank you to all of the area Chambers and Business Organizations for their support in this effort to defeat Measure M.

Wrong Measure...Wrong Time...Wrong Amount!

Sincerely,

Please click here to download a printable version of this letter.