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.
-
Sunny and breezy Thursday, seasonable through the weekend
Much quieter conditions in store for your Thursday. We will continue to see temperatures slightly below normal for the end of the week and into the weekend.
How Ball State football will honor fallen teammate this season
The Cardinals lost one of their teammates last month. Freshman defensive back Gavin Yates-Lyons died on May 30 following a shooting in Florida on May 24.
Former IndyCar Rookie of the Year gets new role with Honda Racing
Lundqvist was named the 2024 IndyCar Rookie of the Year after finishing 16th in the standings. He had two podium results during the year, finishing in third during the events at Barber and Gateway.
USDA orders IU to destroy biological materials during ‘active’ investigation
The USDA ordered Indiana University's Biology Department to destroy biological materials from a lab. This follows a guilty plea from a lab researcher for smuggling E. coli DNA from China.
