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.
-
Minority blood drive aims to help those battling Sickle Cell disease
Innovative Hematology will be holding a minority blood drive to help Hoosiers with the disease, like six-year-old Miracle Campbell.Franciscan Health celebrates NICU’s 50th anniversary with reunion carnival
The reunion celebrated NICU graduates, their families and staff who have been a part of the journey for the past 50 years.Person shot, killed in downtown Indianapolis
Indianapolis Metropolitan Police Department officers responded to the area of Wilson Street and West 10th Street on reports of a person shot just after 3:30 p.m.What can Vice President Kamala Harris do to win over white male voters?
Joe St. George talks with Democratic Strategist Jarvis Stewart and former Trump aide, Hogan Gidley, about the upcoming presidential debate in Philadelphia and more.