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.
-
Woman dies in crash on Indy's north side
A woman is dead after a two-vehicle crash near Kessler Blvd Dr. and N. Tuxedo St. on Sunday. Three others were transported to the hospital for minor injuries.Rap megastar Kendrick Lamar will headline the 2025 Super Bowl halftime show
Kendrick Lamar will pop out on the NFL's biggest stage next year: The Grammy winner will headline the Apple Music Super Bowl Halftime Show in New Orleans.Anderson High School student arrested after threatening to bring gun to school
An Anderson High School student has been arrested after threatening to bring a gun to school, according to a statement from Anderson Community Schools.Man killed in shooting on Indy's east side
A man is dead after being shot on the east side of Indianapolis early Sunday morning, according to police.