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Funding

A modern, multi-story building with glass facades and a prominent sign reading %22Springfield Clark CTC%22 stands in the foreground, with a school bus and pedestrians visible in the surrounding area.

Financing & Funding Information for CTC's New Facility

Building a new state-of-the-art campus requires careful planning, including securing both funding and financing to make this vision a reality. Here’s a breakdown of how we’re making it happen:

Funding: Where the Money Comes From 💰

The foundation of this project is the approved bond issue, which was overwhelmingly supported by voters. These funds are dedicated to the construction of our new campus and will be supplemented by resources from the Ohio Facilities Construction Commission (OFCC) to help maximize the impact of every dollar.

Financing: How the Project is Paid For 🏗️

While the funding is secured, we must finance the project by selling bonds. This allows CTC to access the necessary funds upfront while repaying them over time. Bond sales, in coordination with state funding, ensure that the project remains on track without financial disruption.

This is a carefully managed process, and we are working closely with financial experts, the OFCC, and our project team to ensure responsible stewardship of public funds. Check the update section below for details as we move through each stage of the process!

Financing & Funding Updates

The image displays a banner advertising "Bonds Offered to Local Investors" as a "limited time offer", with the Springfield-Clark Career Technology Center logo and the text "Facility Project Updates" in the background.
Springfield-Clark CTC Announces Bond Offering for Local Investors

Following the successful passage of a bond issue in the November 2024 election, Springfield-Clark Career Technology Center (CTC) will publicly offer $59 million in long-term bonds during the week of February 17, 2025. In partnership with underwriter Stifel, CTC is making these bonds available to local investors.

  • Funding & Financing
  • New Facility
Read More about Springfield-Clark CTC Announces Bond Offering for Local Investors
The image displays the text "CTC Receives Strong Aa2 Rating" against a blurred background, along with the logo and name of the "Springfield-Clark Career Technology Center" and the text "Facility Project Updates".
Moody’s Assigns Strong Aa2 Rating to Springfield-Clark CTC Bonds

Springfield-Clark Career Technology Center (CTC) has received a strong Aa2 rating from Moody’s Ratings for its financial stability and strong enrollment growth. Moody’s also assigned an Aa1 enhanced rating to CTC’s $59 million Vocational School Facilities Bonds, Series 2025, which will help fund the construction of a new main campus.

  • Funding & Financing
  • New Facility
Read More about Moody’s Assigns Strong Aa2 Rating to Springfield-Clark CTC Bonds

What will the project cost?

The total project is estimated to cost $90 million.

The new facility would be built on the existing property - CTC owns over 100 acres. No additional funds will be needed to purchase land.

How will it be paid for?

The building would be paid for through a combination of state and local dollars. 

CTC has been approved to receive $38.7 million in funding from the state through the Ohio Facilities Construction Commission (OFCC). The funding from OFCC is 40% of the total project cost. 

The remaining funds would be raised through a combined bond issue and a tax levy for 1.4 mills. The bond issue for .94 mills is for 37 years. The tax levy for .46 mills is permanent.

Funding Sources

 

CTC By the Numbers

The image displays the text %22$1.2 MILLION%22 prominently in the center, with an icon of a dollar bill below it. The background is plain white, and the text and icon are in a blue color.
The image consists of numerous blue graduation cap icons arranged in a grid pattern, with the text %2297% of CTC graduates are employed, enlisted, or enrolled six months after graduation.%22 and %22CTC gets students READY!%22 displayed below.
The image depicts an icon representing career-tech education, with a person surrounded by symbols for a globe, book, and graduation cap. The text below states that career-tech education is in demand, with increasing student and employer interest in CTC (Career and Technical Centers), which aim to get students ready.
The image displays an icon representing a certificate or credential, along with text stating that CTC students earned over 1,300 industry credentials and certifications last school year, and that CTC gets students READY.
The image contains a graph-like icon with upward-trending bars, representing the increase in CTC applications. The text below the icon provides additional information about the significant increase in the number of students turning away for the 2024-25 school year.

Current Facility Stats

50

The average age of CTC's 7 buildings is 50 years.

39M

The OFCC (state funding agency) has allocated $38.7 million dollars toward the project (nearly 50% of the cost).

150

Nearly 1,000 students turned away du