Thanks for the article. Highlights a big question - why are bond measures the only way to finance community college infrastructure ? Are bonds an obsolete funding mechanism for education? Presuming the purpose of the proposed construction is to equip people with skills that employers value, why aren’t employers being asked to pay those costs?
Community college bonds are a great investment vehicle — nontaxable and a very low risk of default — even if they are not a great choice for public financing. And they are a good choice for a building project that needs to raise significant money up front — but these are rolling projects that will be sequenced. If the primary goal is to raise $10 or $15 million to get construction of the Willits Center and federal and state reimbursements flowing, that could be done through a special assessment or a less expensive financial vehicle. There's lots for the public to discuss.
I think community college bonds are a great investment for the community, too. What is the value to the community of 10 or more years of a nurse's or firefighter's service? Or of keeping a bright, hardworking person here?
Bonds don't have to be sold all at once, they can be phased according to how projects are going. But it takes more than an annual assessment amount to get a major project, like these campus makeovers, started.
What I'm presuming is that the purpose of the construction is to equip people with the skills the COMMUNITY values, which might include anything that allows people to stay here.
Of course employers should help pay, proportional to the profit generated. How could that be implemented?
Sadly what empirical research data shows is that unless training is linked directly to employers, to often it can do a lot of harm. Here is why - the traditional model is a community college researches employer labor needs (that takes time) then they design training programs to equip the workforce with the skills employers say they need (that takes more time) and then students are recruited and trained in those skills (that takes more time) and finally they enter the workforce seeking employment (job search linking worker & employer takes even more time).
Meanwhile - while all that time is passing (it literally often takes years) employers need workers NOW and they either find them or move the work to where a already trained workforce is available. So bottom line by the time a community college gears up to provide workers with the skills currently in demand, the employers have already solved their skill need and no longer need more workers with those skills.
As a result everyone loses - the public loses spending money on training that ultimately isn’t needed, students waste time and personal resources getting trained for jobs that don’t exist when they complete the training, and employers end up spending more to acquire the skills they need either by recruiting employees elsewhere or some other way - automation or subcontracting the work to someone outside the community. That is one reason why their are so many traveling nurses.
The solution is to have employers either train the workers directly on the job or work closely with colleges or vocational schools to guarantee workers get jobs with higher salaries when the training is completed.
Julie McGovern talking about trust and accountability is rich. Ask her about the adopt a fifth grader funds. What happens when a sponsored child does not qualify? Those funds go to the foundation general fund, not back into the program. When pushed she would not provide a simple ledger of monies going in and out of the fund. I heard, it required a MoU to get this program back in the good grace of a major sponsor. I bet the other major sponsors don’t even know this is going on.
sounds wonderful on the flyers...until already strapped property owners see their mortgage payments skyrocket with new taxes as well as the insurance industry assaults...too good to be true, folks...unfortunately.
Thanks for the article. Highlights a big question - why are bond measures the only way to finance community college infrastructure ? Are bonds an obsolete funding mechanism for education? Presuming the purpose of the proposed construction is to equip people with skills that employers value, why aren’t employers being asked to pay those costs?
Community college bonds are a great investment vehicle — nontaxable and a very low risk of default — even if they are not a great choice for public financing. And they are a good choice for a building project that needs to raise significant money up front — but these are rolling projects that will be sequenced. If the primary goal is to raise $10 or $15 million to get construction of the Willits Center and federal and state reimbursements flowing, that could be done through a special assessment or a less expensive financial vehicle. There's lots for the public to discuss.
I think community college bonds are a great investment for the community, too. What is the value to the community of 10 or more years of a nurse's or firefighter's service? Or of keeping a bright, hardworking person here?
Bonds don't have to be sold all at once, they can be phased according to how projects are going. But it takes more than an annual assessment amount to get a major project, like these campus makeovers, started.
What I'm presuming is that the purpose of the construction is to equip people with the skills the COMMUNITY values, which might include anything that allows people to stay here.
Of course employers should help pay, proportional to the profit generated. How could that be implemented?
Sadly what empirical research data shows is that unless training is linked directly to employers, to often it can do a lot of harm. Here is why - the traditional model is a community college researches employer labor needs (that takes time) then they design training programs to equip the workforce with the skills employers say they need (that takes more time) and then students are recruited and trained in those skills (that takes more time) and finally they enter the workforce seeking employment (job search linking worker & employer takes even more time).
Meanwhile - while all that time is passing (it literally often takes years) employers need workers NOW and they either find them or move the work to where a already trained workforce is available. So bottom line by the time a community college gears up to provide workers with the skills currently in demand, the employers have already solved their skill need and no longer need more workers with those skills.
As a result everyone loses - the public loses spending money on training that ultimately isn’t needed, students waste time and personal resources getting trained for jobs that don’t exist when they complete the training, and employers end up spending more to acquire the skills they need either by recruiting employees elsewhere or some other way - automation or subcontracting the work to someone outside the community. That is one reason why their are so many traveling nurses.
The solution is to have employers either train the workers directly on the job or work closely with colleges or vocational schools to guarantee workers get jobs with higher salaries when the training is completed.
This is in an entirely different light than the flyers being distributed.
They should have focused on what was planned for each campus. Emphases on the jobs being trained for.
Wish them luck going it back on track. Your writing will help. Thank You.
Julie McGovern talking about trust and accountability is rich. Ask her about the adopt a fifth grader funds. What happens when a sponsored child does not qualify? Those funds go to the foundation general fund, not back into the program. When pushed she would not provide a simple ledger of monies going in and out of the fund. I heard, it required a MoU to get this program back in the good grace of a major sponsor. I bet the other major sponsors don’t even know this is going on.
Glad to see you write it up!! Somebody did do it! I like the plan although I wish more was in Fort Bragg. I voted for it although it will cost me.
sounds wonderful on the flyers...until already strapped property owners see their mortgage payments skyrocket with new taxes as well as the insurance industry assaults...too good to be true, folks...unfortunately.