Roseco Property Management, LLC May 2"d, 2017 Tenants of Roseco Property Management To: From: PaulMedica Managing Partner Tenants, Some of you may have received the May 15th Special Session Voters Pamphlet without regard. This Special Election and Measure Vote has a hidden agenda that all Multnornah county voters should be made aware and could have a dramatic impact on your future rent rate. I urge each of you to vote by mail for one reason only li - to make your wallet great again ! tl:is. Speci;:l Electlon and l/leasure \./ete, the 14ultncrnah Countr/ Schc'ol District is asking voters to approve measure 25-193: BONDS to improve health, safety, learning by modernizing, repairing schools. The school district is asking for $790 Million dollars that would fund modernization of Benson, Lincoln, and Madison High Schools and Keltogg Middle School with S150 million (or just 1B%) in health and safety projects at schools across the disrict. This would add roughly 51.40 per $1,000 of assessed property taxable value for the first 4 years then diminishing in rate for the remaining 26 years - yes that is correct * 30 years of special school bond property tax payments. Normally, the Portland School District would not need to stretch a special bond over 30 years however due to the size ($7SOVI} of the request, the only way to make the annual payment palatable to property owners is to spread it over a lifetime. Especially, if it is draped on top of an existing School District lmprovement Bond! Four years ago, the Portland School District came to the voters with Measu re 25-L44. lt was a request from the School District for voters to approve a $a82 Million general obligation bond for (y.-o--u e_ug:Igq,ill.Lgnov?ljgn of Franklin Hieh^lqhoo -9fa*"l"tigf, lchool and Soos.qvglt High schocl, and replacement of Fabian PreK-8 school. lt was also to besin plannins for upgrade of all high schools in coming years. I underlined the "begin planning" clause because the School Disffict has a website that makes it clear thei;' iong - the "planning" te ;:'n objectivre, ;'aise funds aspect of the upgrades includes generating publicity for thrcugh vote r appi'cved Lond issusr':ce to rcnc!,ate school in the school districtl (For those of you who have lost track - that would include: e,.re:',/ high Jefferson, Cleveland and Wilson, Lincoln, Madison and Benson, Franklin, Roosevelt and Grant.) This bond was approved by the voters in the 2012 November election vote and went into effect on the 2014 property taxes, it has an 8 year term. lt added $1.10 per $t,000 of taxable assessed property value. The School District has announced to voters that the funds of this bond have been completely spent during the last 4 years on the projects outlined in the voters' pamphlet (which I attached for all to view) however Property owners will continue to make payments for 26-144 thru 2022. Then there was the timely findings of "lead in the pipes" in schools that were sampled. The Political Action Committee for Portland Pubticschools (known as PACPPSI)wants you to believe that "every school" has this issue. The fact is that PACPPS is walking a very fine line with its wording. Every school that was sampled or 4 schools in the entire district had lead levels above the DEQ standard. It was ppS,s decision to turn off every drinking water faucet in the city schools without sampling the entire facility system. The facts suggest it is highly improbable every school facility in the PPS you to believe the system has lead levels above the acceptable standard however PACPPS1 wants entire drinking water in the city is taintedl The real travesty is that in the unlikely condition every faucet in_ every s-ch.gol is-distributing drinking rvater w:ih lead le'.,els above the acce:ltable standard, the bond does almost nothing to "get the lead out of ppS facilities." Eighty-two (82) percent of the money is directed at 3 reconstruction projects (Lincoln, Madison & Benson) and according to PACPPS * "Every School has contaminated drinking water." rates as Bottom line: With this bonds approval - I wlll have no choice but to substantially raise rent 4 years: the LLC will be faced with PPS District double dipping on property taxes for at least the next measure 26'L44 and the passage of measure 2&L93 I urge each of you to: VOTE NO on measure 26'L93. And make your wallet great again Paul Medica !