LOOMING DEFICIT FOR LCC
LCC’s Strategic Plan (2010-14) in part promises to “Promote responsible stewardship of resources and public trust [and] ... apply principles of sustainable economics, resource use, and social institutions to Lane’s learning and working environments.” Lastly, the 2010—11 budget commits to “focus on our mission of teaching and learning.”
Reports on the best current available estimate for LCC’s combined downtown projects of $52 million pencil out to approximately $294 per sq. ft. Problematically, remaining downtown projects’ construction costs unfunded liability attach to the 90,000 sq. ft. learning facility planned at the former Sears site. Depending on the accuracy of various available yet sketchy estimates, the budget deficit approximately oscillates between $650,000 and a whopping $8 million.
Although according to The Register-Guard 85 percent of the funding is virtually guaranteed through the issuance of bonds and state and city of Eugene funding, moving forward in spite of as much as an $8 million funding hole during this extraordinary economic time, may expose the Board of Education to an even more on-point charge of governance entropy than recently leveled against the college’s administration. Lest LCC’s board panic, reasonable taxpayers may consider embracing a PAYGO or similar funding methodology.
Jose Ortal, Blue River