College of Western Idaho trustees plan to ask Ada and Canyon county voters to approve a $180 million bond on Nov. 8 for expansion of the school’s Nampa campus and construction of a permanent Boise campus.
Cost to property tax payers would be $22.31 per $100,000 of taxable value.
A two-thirds majority is needed for passage.
Total interest on the bond would be an estimated $78 million, based on a 2.84 percent interest rate over 25 years. Trustees voted unanimously Tuesday morning to put the bond on the ballot.
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The bond would cover construction of a health sciences building and a student center on the Nampa campus, including a library and classrooms. In Boise, CWI would build a classroom building at the corner of Whitewater Park Boulevard and Main Street.
CWI officials say they need the buildings because of growth and to get the school out of leased classroom space, which costs it about $2 million annually.
“This is good news,” said Mark Dunham, a trustee, speaking about the annual cost to property taxpayers on a home with $100,000 taxable value after the homeowners exemption is figured. “This is going to be less than going to Red Robin for my family.”
Expanding the two-year community college will help the local economy by providing students with the skills and knowledge to be employed, said trustee Stan Bastian.
“I believe we are providing a great value to Ada and Canyon counties,” he said.