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.
-
1989: Bob and Nancy Irsay discuss Colts, threats, and party barn
Bob and Nancy Irsay welcomed WRTV reporter Barbara Lewis into their Carmel home 35 years ago this month.
Wheeler Mission working to make ends meet for the winter
For decades, Wheeler Mission has been the answer to a lot of prayers when it comes to housing people who are experiencing homelessness.
7th grader at Avon Community School Corporation killed in a car crash
Police did not provide any information on the events leading up to the crash, or if anyone else was injured in the incident.
23-year-old woman killed in shooting on Indy’s west side
Indianapolis Metropolitan Police Department officers responded to the 2600 block of South Lynhurst Drive on reports of a person shot just after 9 p.m.
