State aid, capital reserves bring bond cost down to $5.3 million
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The Pine Bush Central School District Board of Education approved a capital improvement project proposal March 26, 2019 totaling $53,975,000, which will go to voters in May.
The district’s state aid is approximately 70.3 percent. After using $7.5 million in district capital reserve funds, state aid is projected to be $41,162,898, leaving $5,312,102 for the district to bond. That amount could shrink further as additional funds are committed to the capital reserve fund over the next four years, according to Assistant Superintendent for Business Michael Pacella.
Capital Improvement Project Summary
Total Capital Improvement Project (two bond propositions)- $53,975,000
Projected total state aid – $41,162,898
Contribution from capital reserve – $7.5 million
District portion – $5,312,102 (plus borrowing costs)
Bond proposition #1 – Base Proposal – School Buildings – $44,875,000
All district school facilities need major repairs and upgrades including:
- Installation of secure vestibules
- Boilers
- Roofs
- Emergency generators
- Parking lot repaving
- Remediation of water infiltration
- Replacement of bricks, windows
- Americans with Disabilities Act (ADA) upgrades
Bond proposition #2 – Contingent Proposal – Athletics – $9,100,000
Please note: The athletics proposal may only pass if bond proposition #1 also passes. It is contingent on voter’s approving proposition #1. If proposition #1 fails, the athletics proposal also fails.
- Synthetic turf field at PBHS
- New grass field at CVMS
- Eight-lane track at PBHS
- Six-lane track at CVMS
- Replacing backstops
- Upgrade fencing and lighting at tennis court
Two separate propositions
The board-approved proposal is actually two propositions – one is a base project that encompasses safety improvements, including installing secure vestibules at the main entrance of each of the seven schools, repairs throughout the buildings, reconstruction of unsafe sidewalks and parking lots, and replacement of systems, equipment and materials including roofs, boilers and emergency generators. This base proposal also includes Americans with Disabilities Act (ADA) upgrades.
The second proposition focuses on repairing and upgrading the district’s athletic facilities and is dependent on the passage of the base proposal. If the base proposal is not supported by a majority of the voters, the athletic proposal is void, even if it passes with voters.
The athletic proposal includes the replacement of the current high school stadium field and track with a synthetic turf field and a new eight-lane track. A new natural grass athletic field with a six-lane track will be built at Circleville Middle School.
Tax implications
If voters approve the base proposition or the base and the athletic propositions on May 21, the district will borrow the funds through bonding. The bonds will be paid back over a total of 18 years. Throughout this time, the district will receive its eligible state aid on an annual basis.
The projected increase to taxpayers would be:
If both propositions are approved:
If your tax bill is: Avg. annual increase Avg. monthly cost
$3,000 $41 $3.42
$4,000 $55 $4.57
$5,000 $68 $5.71
$10,000 $137 $11.42
If only the base proposition is approved:
If your tax bill is: Avg. annual increase Avg. monthly cost
$3,000 $30 $2.50
$4,000 $40 $3.33
$5,000 $50 $4.17
$10,000 $100 $8.33
Reduction in scope from December plan
This total capital improvement plan, both the base and athletic propositions, is a 29.6 percent reduction in cost from the facilities modernization plan that voters defeated in December 2018. This base proposal, which accounts for all work done on the district buildings, is 27.3 percent less than the amount designated in December. The athletic proposal is 39.3 percent less than was proposed in December.
“We heard our voters in December,” said Superintendent of Schools Tim Mains. “The Central Design Committee worked diligently to devise this capital improvement plan. We kept all of the non-negotiable security items and retained all projects that are needed to keep our buildings sound.”
“There are many items cut from the original plan,” Pacella noted, “and they are likely to be cited in our next required building conditions survey. That means they will be coming back to us to be addressed.”
The proposition will go to voters on May 21, 2019 along with the 2019-2020 school budget and election of three board of education candidates.
More information
If you have additional questions about the project, please email communications@pinebushschools.org.
Posted March 29, 2019