²ÝÁñÉçÇø

COVID Inflation

One of the most important priorities for the Bond Planning Committee and the Board of Trustees is to accomplish all the projects that voters already approved in the 2017 bond program.

In November 2017, voters approved a $524.7 million bond referendum that resulted in new facilities for student enrollment growth, renovations in every facility in the district, safety and security upgrades, and the purchase of land for new schools.  

Since the passage of the 2017 bond, much of the bond program has been completed. There are a few projects remaining; the largest of which being Eagle Mountain High School. The district’s fourth and final comprehensive high school is weeks from breaking ground and is set to open in August of 2024.  

In addition, a new elementary school (this makes number 18), replacement of the district’s first middle school, Wayside Middle School, and other smaller projects are already in the planning stages.

Projects already completed in the 2017 bond program were delivered within scheduled timelines and budget parameters.

In the last 18 months, consumers have experienced increased costs for goods and services, and the construction market is no different.  COVID-19 has had a dramatic effect on construction prices locally and throughout the country. Supply lines of various products, including construction materials like steel, copper, and lumber, have resulted in increased costs that are, in some cases, significant. Inflation is always accounted for when a bond project is priced.  However, the effect of COVID-19 has now made inflationary costs more pronounced, with an unprecedented increase in construction expenses. As a result, the proposed 2022 bond program includes estimated costs to address COVID inflation.

As an example of the significant impact of COVID Inflation on bond project estimates and costs, consider the following example comparing the estimated cost of elementary #19 at $59 million with the actual cost of Copper Creek Elementary, which was built in 2020 for $35 million. Because Elementary #20 comes later in the construction timeline of the proposed 2022 bond package, it’s estimated cost is $4 million higher than elementary #19 or $63 million.

Because of the high level of variability in construction prices, the 2022 Bond is a smaller community investment with fewer total projects than has been customary in our most recent bond programs.