INDIANAPOLIS — The Indianapolis Public School board of commissioners has approved a $410 million referendum to fund several construction projects as part of its Rebuilding Stronger plan.
Commissioners voted unanimously Tuesday night to move forward with the referendum, which includes the construction of a new elementary school and additions and renovations to multiple schools, among other items, according to a notice from the board's website.
Leases for the projects will be for a maximum term of 30 years with a maximum aggregate annual lease rental of $45 million, according to the notice.
The full notice can be viewed here:
Marc Ransford, a spokesman for IPS, says the referendum will "support new construction and renovations to expand and enhance the elementary and middle school experience (and) address critical deferred maintenance needs in some IPS-owned school facilities."
The total costs are estimated to be more than $267 million.
The notice also states that IPS expects to incur an increase of $301,715 annually to operate each new facility space.
Commissioners will vote on a separate $413.6 million operating referendum next week, Ransford said.
That referendum is intended to support competitive compensation for staff members, fund the expansion and replication of academic programming across the district and enhance the student experience, Ransford said.
It would raise $50 million annually until 2031 and would propose a local property tax levy of no more than $0.25 on each $100 of assessed valuation.
Voters will have the chance to approve or deny both referendums in May 2023.
IPS says its Rebuilding Stronger plan will provide equal opportunities for all students and allow them to take care of necessary building maintenance and repairs.
The IPS board of commissioners approved the plan Thursday, Nov. 17.
-
Kokomo man wants to share story of overcoming addiction with others
The Carmel Marathon is this weekend. For some, crossing that finish line after 26.2 miles is the hardest feat of their lives. Brent Wright says overcoming addiction motivates him to race years later.
Braun announces crackdown on 'nuisance bars'
Governor Mike Braun announced on Thursday a collaboration between police agencies to address public safety concerns surrounding 'nuisance bars.'
Understanding the proposed Fishers long-term rental ordinance
Fishers is poised to become the first city in Indiana to place restrictions on long-term rental properties, a move that has ignited strong opinions among residents and industry experts.
Indiana water systems to remove lead pipes amid uncertainty at federal level
Water systems across Indiana are moving forward with identifying and removing lead service lines amid uncertainty at the federal level.
