Bond election to target matching moneys
Ballot issue 5A on the Nov. 3 ballot for Holyoke School District Re-1J involves a $2.2 million bond election.
A decision for the direction and scope of the ballot issue was made at the Aug. 27 special meeting of the school board.
In prior discussion, the board has used a figure of $2.16 million for the bond money which, if passed, will provide matching funds for the Building Excellent Schools Today grant that the district has been awarded.
Increasing that to $2.2 million incorporates the costs surrounding the bond including setup and legal fees estimated at around $43,000, noted business and finance director Ben Rahe.
With the $2.5 million BEST moneys, the district is looking at a $4.7 million project that involves secure entry, student safety and access improvement to address existing deficiencies in the JR/SR high.
The board opted for a 10-year bond for the best interest rate and to allow the district to tie up some of the bonding capacity for a shorter period of time than the 15- and 20-year options that were also under consideration.
The district’s current bond indebtedness from the junior high building project just over 20 years ago is roughly at 1.8 mills.
If 5A is approved, the mills allocated to the bond will be about 1.3, so the total bond will be around 3.12 mills.
For perspective, the bond company shared details on the impact to taxpayers for an increase of 1.3 mills in their property tax.
On a $100,000 home, the property tax for 1.3 mills would be about $9.42 a year. On commercial property valued at $100,000, the increase would be about $38.20 per year.
Superintendent Kyle Stumpf noted that the district has done a good job with bonds in the past. If there’s a chance to lower the mills, they will pass that on as an advantage to the taxpayers.
The bond election will not include any dollars for previously discussed energy performance savings measures.
However, Stumpf said he anticipates that by the Sept. 15 board meeting, they will be discussing what part, if any, of the energy-saving projects they would like to proceed with.
If they go forward with finding a lender for any part of the energy savings, the $40,000 to Schneider Electric for the investment grade audit will be rolled into the cost of the project. If it is all put on hold, the district will owe Schneider Electric for the IGA.
Gymnasium renovation going forward
Bleachers, floor, running track and scoreboards for the big gym at the high school were approved at last week’s meeting at a cost not to exceed $365,000.
While timing will be tight, Rahe said it should be doable to complete the project by Jan. 1. With no indoor high school sports until January, the window of opportunity presented itself for gym renovation.
Anticipated project costs include $177,467 for bleachers, $99,773 for gym floors, $55,770 for indoor running track and $11,266 for scoreboards. The projected $365,000 ceiling incorporates some overage costs as well.
Rahe noted that a piece missing from the previous board meeting report was an additional $40,000 for a section of wood underneath one of the baskets that needs fixed. He pointed out that the wood is warped from water in that spot and the flooring underneath is almost shot.
Money from the district’s reserves will be used to finance this project. Stumpf said it’s a good way to take care of some of the district’s needs without going to taxpayers.
He added that the upgrades target safety for students, athletes and fans.
Looking to promote sponsorships in the gym, the board sees that as another source of revenue for the project. There has already been interest expressed for those sponsorships.
Other business
In other business at the Aug. 27 special meeting, the school board:
— Heard from board member Brady Ring about the ALICE program for active shooter training. He said Jorge Salas will be doing another community training session in a couple of weeks and Ring would like to see the board learn more about it.
— Added Alyssa Metzger to the coaching staff as a volunteer for the softball team.
— Approved a resolution to define “actively engaged in the educational process” and student attendance for the 2020-21 school year. The resolution accompanies Policies IC/ICA on school year/school calendar/instruction time, which were also approved as revised.
— Gave first-reading approval for Colorado Association of School Boards’ policies on suspension/expulsion of students and grounds for suspension/expulsion.