Collin College is asking voters to approve a $600 million bond on the November 3 ballot to fund campus expansions and new workforce training facilities as Collin County continues to grow.
College President Neil Matkin says the proposal would fund the second and third phases of the college’s Destination 2030 master plan, which was developed after public meetings, demographic studies and input from community leaders.
“We have a need to stay relevant to make sure that we can train the workers that are coming into work in Collin County,” Matkin said.
Proposed projects include a workforce and career training building at the McKinney campus, an academic building at the Wylie campus and expanded trade programs at the Allen Technical Campus.
The plan also includes workforce training facilities in Celina and Farmersville, additional space for information technology and dental-related courses at the Plano Courtyard Center, and an aviation academy at McKinney National Airport.
Some projects would be shared with McKinney ISD, which Matkin said has committed additional funding toward the proposed career training facility and aviation academy.
The third phase includes finishing unfinished space at the Frisco campus, expanding workforce training space in Wylie and developing future campuses in Anna and Royse City.
Matkin said the college would prioritize projects based on available funding and student demand.
The bond’s financial impact is another consideration for voters. Although Matkin said the college’s board does not plan to raise the tax rate, he acknowledged that state law requires the ballot language to identify the proposal as a tax increase.
“The reality is the voters are giving us the ability to increase taxes to pay the debt,” Matkin said. “Our board is not planning to do that.”
Matkin said the college has maintained its AAA bond rating and kept its tax rate unchanged since its previous bond election nine years ago.
If voters approve the proposal, the college would begin prioritizing projects and determining when it could sell bonds to finance construction.
If the measure fails, Matkin said the college would have to explore other financing options, including revenue bonds, which are repaid through pledged revenue and can cost more.
“Regardless, we’re going to do whatever it takes to be relevant and serve the students in Collin County,” Matkin said.
Early voting begins October 19 ahead of Election Day on November 3.
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