As a community-funded district, MPCSD does not receive any additional revenue when it receives additional students; the district’s primary source of funding is property taxes, and Stanford is exempt from property taxes as a non-profit institution. We feel that if the City has a way to help mitigate the gap in funding between what residential units built by a tax-paying developer would generate for the school district, and the one-time donation that Stanford made as a gesture towards filling that gap, the City should not let this opportunity pass. With a $1 million gift, put into endowment along with Stanford’s gift of $1.5 million, the school district will be on track to annually generate 60% of the cost of educating the Stanford development’s students, bringing it on par with what typical housing developments generate.
The City Council should consider giving MPCSD a $1 million gift so that when the new students arrive, as they surely will, the district will be equipped with the resources to educate them. We all appreciate the value that an excellent school district adds to our vibrant community, and with your foresight and help, we can maintain the quality that we all expect.
Please consider emailing the Menlo Park City Council that you support Councilmember Mueller's proposal.
