The 37-year, 6.52-mill bond issue will generate just more than $66 million so the district can participate in the Ohio Facilities Construction Commission’s Expedited Local Partnership Plan by raising Franklin’s portion of the cost. Those include a new high school with career tech, renovation of the existing high school for use as a middle school housing grades 6-8 and other site improvements.
Warren County Auditor Matt Nolan said the bond issue will cost the owner of home valued at $100,000 about $228.20 a year in additional property taxes.
In addition, the other local funded initiatives that will be included in the local bond issue and are not covered by state funding, include a new bus garage, moving the central office into the new high school building, installing gas and other utility lines, and the demolition of Hampton Bennett School for a new student parking lot.
Superintendent Michael Sander previously said the new high school would not have an auditorium and would use the auditorium now at the current high school on East Fourth Street. In addition, the roof at the current high school would be replaced, he said.
The board approved the overall $115 million project in May which also includes construction of three new elementary schools, which is about 57 percent of the overall project and those costs will be paid by the state when those funds become available.
District officials were told in April 2019 that there would be a slowdown in state school building construction funding and there would not be funding to assist Franklin schools until 2027. In May 2019, the board opted to move forward with a new building project through the state’s Expedited Local Partnership Program, which allows the project could be done in phases.
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