Funding
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
![CTC’s Bond Sale a Success, Paving the Way for Future Growth!]([{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_1/v1740700717/springfieldclarkctcorg/eyvncygznldw0sgbxbzs/Update_Bond-Sale.png","width":256},{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_2/v1740700717/springfieldclarkctcorg/eyvncygznldw0sgbxbzs/Update_Bond-Sale.png","width":512},{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_3/v1740700717/springfieldclarkctcorg/eyvncygznldw0sgbxbzs/Update_Bond-Sale.png","width":800},{"url":"https://resources.finalsite.net/images/f_auto,q_auto/v1740700717/springfieldclarkctcorg/eyvncygznldw0sgbxbzs/Update_Bond-Sale.png","width":1080}])
CTC successfully sold $59M in bonds, securing funding for future improvements. Investor demand was strong, and the final interest rate ensures the projected millage stays within the promised 0.94 mills.
- Facility Project
- Funding & Financing
![Springfield-Clark CTC Announces Bond Offering for Local Investors]([{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_1/v1740700769/springfieldclarkctcorg/yv5haqedioww0libwd33/Update_Bonds.png","width":256},{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_2/v1740700769/springfieldclarkctcorg/yv5haqedioww0libwd33/Update_Bonds.png","width":512},{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_3/v1740700769/springfieldclarkctcorg/yv5haqedioww0libwd33/Update_Bonds.png","width":800},{"url":"https://resources.finalsite.net/images/f_auto,q_auto/v1740700769/springfieldclarkctcorg/yv5haqedioww0libwd33/Update_Bonds.png","width":1080}])
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
![Moody’s Assigns Strong Aa2 Rating to Springfield-Clark CTC Bonds]([{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_1/v1740701006/springfieldclarkctcorg/ja0lgdmspo9pl6biov5r/Update_Rating.png","width":256},{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_2/v1740701006/springfieldclarkctcorg/ja0lgdmspo9pl6biov5r/Update_Rating.png","width":512},{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_3/v1740701006/springfieldclarkctcorg/ja0lgdmspo9pl6biov5r/Update_Rating.png","width":800},{"url":"https://resources.finalsite.net/images/f_auto,q_auto/v1740701006/springfieldclarkctcorg/ja0lgdmspo9pl6biov5r/Update_Rating.png","width":1080}])
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
![Exciting News: A New CTC Campus is on the Way!]([{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_1/v1740700908/springfieldclarkctcorg/thndw2qhrrjryakckphl/Update_Coming-Soon.png","width":256},{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_2/v1740700908/springfieldclarkctcorg/thndw2qhrrjryakckphl/Update_Coming-Soon.png","width":512},{"url":"https://resources.finalsite.net/images/f_auto,q_auto,t_image_size_3/v1740700908/springfieldclarkctcorg/thndw2qhrrjryakckphl/Update_Coming-Soon.png","width":800},{"url":"https://resources.finalsite.net/images/f_auto,q_auto/v1740700908/springfieldclarkctcorg/thndw2qhrrjryakckphl/Update_Coming-Soon.png","width":1080}])
Big things are happening at Springfield-Clark CTC! We are thrilled to share that the journey to our new main campus is officially underway now that the levy has passed. Over the next few months, we’ll be hard at work behind the scenes, laying the groundwork to bring this vision to life.
- Funding & Financing
- New Facility
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
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