Lakewood Schools Construction Plans Rest on Shaky Fiscal Ground

It doesn’t look good. 

In Monday’s regular meeting at , treasurer Rick Berdine was asked to update the public on the third and final phase of the district’s , and his response was based more in realism versus optimism. 

As it stands, Lakewood is expecting $47 million from the Ohio School Facilities Commission (OSFC), and Berdine said the money may not come until 2013. And not even 2013 is a guarantee. 

To increase the likelihood of the district getting the money in the near term, there’d have to be a turnaround in the economy, but stagnant job growth and the heavy and school systems indicates that matters may worsen before they improve. 

“In the old days, the state’s general fund would fund about $520 million in school construction in a year," he said. “Then we had tobacco settlement money. Now, they really don’t have much. They recently funded 14 districts which was made possible, unfortunately for some, by (the districts) not being able to pass their local issues or choosing not to proceed in the current environment."

That's good for Lakewood, Berdine added, because it moves the district up the list.

Once the money is received, he said, Lakewood would need to put one or two issues on the ballot to collect the remaining $28 million it would need to finish the project and maintain the work that’s already been completed on the other rebuilt or renovated schools.

“Once we get the call (to move forward), it really begins a process with OFSC to reassess all our spaces which is a 10-year look back and a 10-year look ahead on enrollment," Berdine said. "Then they will also reassess the funding in a current cost model at that point in time. So you’ll see a facilities review, you’ll see an enrollment forecast and then you’ll see a recalculation of funding.

“I wouldn’t expect (the overall price tag) would go down unless construction costs have fallen significantly, and I don’t see that happening. We’re probably some years away before we actually begin construction is my opinion, and it’s one, I hope, that someday somebody says I was wrong.”

Once all the red tape is cut and construction begins, it will take three to four years to finish phase three, which includes the renovation or reconstruction of and elementary schools, plus the reconstruction of half of .

For an in-depth breakdown of phase three, how it would be funded and the challenges the district is facing, click .