The cost of that option is estimated at more than $107.2 million. The estimated share to be funded by the Ohio School Facilities Commission is $61 million, or 57 percent, and the district’s share was estimated at $46 million or 43 percent.
Interim Treasurer Robert Guiffré said the estimated millage needed for a bond issue of this size is 5.5 mills. However, the actual millage will be determined by the Warren County Auditor’s Office this summer when the board begins the process to place the issue on the Nov. 3 general election ballot.
The CAT said this option rated the highest in a recent community survey, 3.77 on a scale of 5. In addition, the CAT said this option was preferred across all demographic groups; and that three elementary schools was preferred over two elementary schools and that the Hunter, Gerke and Pennyroyal sites were preferred. Superintendent Michael Sander also said the CAT recommended building the new high school behind the current junior high school on East Sixth Street.
The board did not identify the locations for the new elementary schools at its Monday meeting.
At Sander’s request, the board unanimously approved the facilities plan and begin the process to obtain funding through OSFC. Sander the OFSC would prepare a contract that the board will have to approve at its May 18 meeting. Once that is approved by the board, the district’s voters would have just more than a year to approve the bond issue for the new buildings.
Sander said the board will have approve a resolution of necessity at its June 22 meeting and a resolution to proceed at its July 27 meeting in order place the proposed bond issue on the Nov. 3 ballot.
The board also established board/community finance committee with veteran board members Chris Sizemore and Lori Raleigh volunteering to serve on it. The board will be creating a levy committee in the coming months.