The Portland Community College Board approved a resolution Thursday night to put a measure on the November ballot to renew the college's existing bond.
If approved, the measure would not increase the tax rate, because it is a renewal of an expiring bond, passed by voters in 2000.
The bond money would provide $185 million in funding to be directed toward modernizing PCC's job training centers, increasing the lifespan of facilities and reducing long term costs.
If approved, the bond is estimated to maintain the fiscal year 2017 tax rate of 40 cents per $1,000 of assessed value.
"Students come to PCC to get the skills they need today for the jobs they need tomorrow," said Kali Thorne Ladd, chair of the PCC Board of Directors. "This bond renewal will help us to provide the up-to-date job training spaces and modern technology PCC's nearly 78,000 students need to graduate ready to compete for good paying jobs."
The Portland Business Alliance has come out in favor of the bond. "The bond renewal will help PCC — Oregon's largest post-secondary institution — continue to provide job training to students in the metro area so they can graduate ready to secure higher paying jobs, meet the needs of business in the metro area, and help build our communities," said Marion Haynes, vice president of external affairs for the alliance.
Portland Community College is the largest post-secondary institution in Oregon, serving nearly 78,000 students.