Torrance Unified School District Refinances Bonds: Saves Taxpayers Over $5.6 Million

The Torrance Unified School District recently refinanced $31 million in general obligation bonds which will save District property owners more than $5.6 million in taxes. The District took advantage of interest rates that were near all-time lows to refinance its Election of 2008 Series 2009B-2 Bonds. The 2009B-2 Bonds originally sold in October 2009 when interest rates were higher.

The 2008 Election Bonds, Measures Y and Z, were approved by nearly 75% of the District’s voters authorizing the sale of $265 million in General Obligation Bonds. The prior bonds were sold to finance District-wide modernization of all schools, and repairs to roofs, plumbing and electrical systems, as well as other capital improvement projects.

Interest rates on the old bonds were 4.78%, and the borrowing cost for the new bonds is 2.79%. This difference will save District property taxpayers $5,612,167, or about $375,000 a year through the year 2034.

A part of the sale process involved getting a credit rating on the District’s bonds. The District received a strong “Aa2” rating from Moody’s Investors Service, which helped the District achieve its low interest rates. Moody’s praised the District in their report for its “very large and growing tax base characterized by a high level of resilience, healthy financial position through conservative management, and a large financial operation able to weather economic pressures”.

TUSD Superintendent, Dr. Mannon, stated, “With interest rates the lowest they have ever been, we wanted to take advantage and lock in savings as quickly as possible.” Board President, Martha Deutsch, added, “Our community has always entrusted us by supporting our bond measures, and as stewards of taxpayer dollars, we felt this refinancing was the right thing to do.”

The refinancing of the bonds was unanimously approved by the TUSD Board of Education on July 18, 2016. Property owners in the District will see a reduced property tax rate on future tax bills.

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We Celebrated a Luau Fundraiser for the Rose Float

 

We had a ball raising cash for the Torrance Rose Bowl Float on August 6th at the Ken Miller Recreation Center. Fun was had by all. Check out all the photos at the Float Facebook page

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Long Beach History : Jergins Tunnel


Built in 1927 and opened to the public in 1928, the Jergins Pedestrian Subway,  was built to create a safer transportation to the beach. Named after pioneer oil baron Andrew T. Jergins, it also lead to famous amusement park, The Pike, which until 1979.

The city planners decided to build a pedestrian transport that by passed the traffic mess above at Pine and Ocean. Affectionately known then as “The Cross Roads of Long Beach.” With no traffic lights.

It is believed that the tunnel was closed off in 1967. The above video takes you on a tour of the opened tunnel.

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Who Are The First Time Home Buyers?

67%   home buyers 35 and younger were first time home buyers. Followed by buyers 36-50 years old at 26%.

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TUSD Announces New Administrative Appointments

Torance Unified School District is excited to announce the appointment of two new administrative positions – Dr. Tim Stowe is the District’s new Deputy Superintendent, Administrative Services as of July 1, 2016 and Dr. Kati Krumpe will start as the new Chief Academic Officer on August 1, 2016.

Dr. Tim Stowe – Deputy Superintendent, Administrative Services:

Since 2013, Dr. Stowe had been serving as the District’s Chief Academic Officer. Dr. Stowe began his career with the District in 1993 as an English teacher at North High School before moving to teach social studies and technology at Magruder Middle School. While teaching at Magruder, he coached basketball at West High. In the fall of 1998, Dr. Stowe was appointed as Assistant Principal at Richardson Middle School. From 2000-2007 he served as the Principal of Hull Middle School and then West High School.

Dr. Stowe earned a Bachelor of Arts in History from the University of Redlands, a Masters of Science in School Counseling and an Administrative Services Credential from the University of La Verne, and a Doctorate in Educational Leadership from the Rossier School of Education at the University of Southern California.

Dr. Stowe’s involvement in the community includes coaching youth sports and serving as a Board member of two non-profit organizations that support the education of students in the South Bay; the South Bay Classic and the Astronaut Ellison S. Onizuka Memorial Committee.

Dr. Stowe attended TUSD schools and his mother was a long time TUSD employee, recognized as Employee of the Year in 1997. Dr. Stowe and his wife Kathy, Associate Dean and Professor at the USC Rossier School of Education, have children who attend TUSD schools. Congratulations Dr. Stowe!

Dr. Kati Krumpe – Chief Academic Officer:

Dr. Krumpe had been serving as the Culver City Assistant Superintendent of Education Services since July 2013. She previously served in our District for 22 years beginning in September 1991 as a Science Teacher, Track, and Cross Country Coach at North High School. She was a high school assistant principal, the Edison Elementary Principal, and the Director of State and Federal Projects.

Dr. Krumpe received her Bachelor of Science in Kinesiology from the University of California, Los Angeles in 1986, her Master of Arts in School Administration from California State University, Dominguez Hills in 1994, and her Doctorate in Educational Leadership for Social Justice from Loyola Marymount University in 2012.

Dr. Krumpe has been a volunteer with various community organizations and professional groups. She has served on the AYSO Region 14 Board, has been the President of the West High Athletic Booster Club, and has been a Big Sister with the Big Brothers/Big Sisters nonprofit organization. Dr. Krumpe continues to help mentor and support others in the education community as a teacher for the Association of California School Administrators in their administrative academies focusing on curriculum.

Dr. Krumpe and her family have a legacy of service with TUSD, in particular West High School. Her father, Fred Petersen, helped open the doors of West High as one of the school’s first math teachers and coach. The West High Athletic Stadium is named after beloved “Coach Pete”. Dr. Krumpe’s husband, Paul, is the head soccer coach at Loyola Marymount University and both her sons, as well as all her siblings, are proud West High Warriors.

We would like to welcome Dr. Krumpe back to our District!

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Top LA Markets are in South Bay

Here are the top 4 ZIP Codes in LA County by Average Selling Price for May 2016:
1. 90049 (Los Angeles) – $2,736,428
2. 90275(Rancho Palos Verdes) – $1,281,912
3. 90278(Redondo Beach) – $952,912
4. 91765(Diamond Bar) – $724,585

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Carol is on Radio to Discuss Rose Float

Carol discusses the Torrance Rose float on the air today.

Tune In today at 3PM as Lynn Robinson, Terri Scotto, Carol Young Gilles talk about the Torrance Rose Float Association. Who knows you might learn something you didn’t know about the Torrance Rose Float! They will also be spreading the work about the August 6th LUAU Fundraising event. Very exciting!
Here’s the link: http://laradiostudio.com/CamChat/

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#StuffTheBus With Torrance School Supplies

TUSD Partners with Assemblymember Hadley for
“Stuff the Bus” Campaign

Assemblymember David Hadley has launched the 2016 “Stuff the Bus” school donation drive, which will provide new school supplies to benefit K-12 students in the cities of Gardena, Lomita, Harbor City, and Torrance. The “Stuff the Bus” campaign will help support students by providing them with school supplies they need to be academically successful. Last year’s “Stuff the Bus” effort raised more than $17,000 in school supplies. Items can be dropped off at the following Torrance locations till Friday, July 29, 2016.

Drop locations in Torrance:
Red Car Brewery:
1266 Sartori Avenue, Torrance, CA 90501

Torrance Area Chamber of Commerce:
3400 Torrance Boulevard, Suite 100, Torrance, CA 90503

Walmart:
22015 Hawthorne Blvd., Torrance, CA 90503

Assemblymember Hadley’s District Office:
23211 Hawthorne Blvd., #200A, Torrance, CA 90505

Individuals can support this effort by donating backpacks, binders, notebooks, paper, pens, pencils, rulers, calculators, and other basic school supplies. All the collected supplies will be distributed to the school districts after the finale event on July 29. The administrators of each school district will have the discretion of making the supplies available to those most in need.

Assemblymember Hadley will host a finale event with school district officials, community partners, and the general community on Friday, July 29, from 10:00 a.m. to 3:00 p.m., at the Walmart store parking lot, which is located at 22015 Hawthorne Blvd in Torrance. There will be a special presentation at 1:00 p.m., and Assemblymember Hadley, along with school officials and other community partners, will stuff the bus at 2:30 p.m.

Generous individuals who donate school supplies are encouraged to make their support known on social media using the hashtag #StuffTheBus and encourage others to do the same.

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Fireworks in Torrance Again

4th of July Fireworks Show

 

July 4, 2016 at 9 p.m. at the Torrance Civic Center

fireworks**UPDATE: As of June 30, tickets are NO LONGER available for the Toyota Sports Complex. All tickets have been distributed. 

Seating will be available at Toyota Sports Complex (Gates open at 7 p.m.) and the Los Angeles County Courthouse Parking Lot (Maple Avenue, north of Torrance Blvd.)

Tickets (free) will be required for the Toyota Sports Complex viewing area.

Background

For nearly 30 years the City of Torrance hosted an Old Fashioned 4th of July Celebration that culminated in a fireworks show. Since 2011, the City had to forego the celebration due to the economy. 2 years ago staff explored options to bring a fireworks show back at a reduced cost.

We’ve received your emails. We’ve listened to your requests.

We are happy to announce that in 2016, the beloved fireworks show will make its return in Torrance!

The City Council has approved a July 4th Fireworks Show to take place on Monday, July 4th, 2016. Staff has recommended the Civic Center as the safest, cost effective, and secure location for the community to view a fireworks show. The internal Civic Center Parking Lot will be closed for the launching of the fireworks, however the surrounding parking lots will be open for the general public to view the show. In addition, the Toyota Sports Complex and a portion of the Courthouse Parking Lot will be open for public viewing.

Staff has estimated a cost not to exceed $75,000 for the 2016 fireworks display.

Meanwhile there is a tradition that continues on Torrance Beach:

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Palisades Playa del Rey

If not for the airport what could have been in Playa del Rey.

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