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Santa Monica Malibu Schools

By
Real Estate Agent with BizEx

What's going on with the education budget?!

There is an interesting support group battling hard to raise money for the Santa Monica Malibu Unified School District.  For the past 2 years, California has cut the SMMUSD funding by roughly $10Million a year.  Currently, California is not in the top 15 states slated to recieve funding from Obama's new education program. 

Knowing that the school district is facing a huge budget deficit, it was put to a vote to try and prevent as much damage as possible.  In June, the residents voted against a measure (Measure A) to add a $198 parcel tax which would help reduce a portion of the cutbacks.

How is this impacting the school district?

There have been a number of teachers that have received pink slips.  Other cuts included moving administrators into teaching positions, and reducing the number of high school counselors.  Nearly the entire elementary school music program was cut, and the Elementary and Secondary Librarians and Librarian Coordinators were cut.

Performance of the School District.

The SMMUSD has consistently out-performed the rest of the state with nearly a 100 point difference on the Academic Point Index (API) over the past 5 years.  It's no secret that the funding the school district was accustomed to was able to produce high-level teachers and smaller class sizes, which generally lead to increased performance.

Impact on the Real Estate Market

Moving to Santa Monica or Malibu is a lifestyle choice.  Those of us who live, work, and play here have chosen to pay the price because something about this place fits for us.  For many, the decision to move into these neighborhoods was based, at least in part, on the quality of the school system.  Having grown up in public schools, I have seen the difficulties in balancing budgets and making hard decisions on which programs, faculty, staff, and support have to go when money gets tight.  And...it hurts the entire community when 60 people are getting laid off.  On an overly simplified level, job loss could lead to increased foreclosures.  And these foreclosures (short sales and REOs) may be in your neighborhood driving down home values.  Any job loss creates this cycle.

My Take

I support education...both public and private....and I hate to see the quality of ANY school diminished, regardless of where the school is located or the socio-economic class of the families who attend.  Therefore, I support the Save Our Schools initiative. This fund is raising money from individuals and businesses to help raise $5.8M by August 15, 2010.  This money will be directed appropriately (you can choose where you want them to spend your donation) to get teachers and staff their jobs back, as well as reduce various other cuts. 

From now until August 15, a portion of my commission will be donated to the fund to help keep quality education in SMMUSD.

Please contact me at 310.699.1386 or jchapman@kw.com for all of your real estate needs. 

Jered Chapman

www.JeredChapman.com

Robert Vegas Bob Swetz
Las Vegas, NV

Vegas Bob LOVES Santa Monica & Malibu and thanks for the info!

VB ;-)

Jul 19, 2010 01:58 PM
Olympus Executive Realty Inc.
Olympus Executive Realty INC. - Orlando, FL
Home Of The Top Producers

Thank you for the update in your area.

 

Good luck with all future sales!

 

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Jul 19, 2010 02:15 PM
Rob Lang
At Home Kansas - Shawnee, KS
Local Expert in NE Central Kansas Real Estate Home

It's a slippery slope when schools have to cut funding... huge local impacts.  Good luck.

Jul 19, 2010 02:22 PM
J. Chapman
BizEx - Marina del Rey, CA

Thanks for the comments and the support everyone!

Jul 28, 2010 01:50 PM