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.
-
Apartment fire displaces 11 on northeast side
The Indianapolis Fire Department said on Saturday that while no one was hurt, six adults and five children were displaced due to a fire on the northeast side of Indianapolis.
More storm chances ahead for central Indiana
It was a beautiful, sunny and warm start to the weekend. However, changes are on the way, with the potential for more strong-to-severe thunderstorms.
Max Engling secures Republican nomination for Secretary of State in Indiana
Max Engling won the Republican nomination for Secretary of State in Indiana with 867 out of 1,630 ballots, defeating incumbent Diego Morales and others.
Rescue dog Osito steals hearts at the World Cup, one bike ride at a time
Osito, a rescue poodle mix, has become an unlikely sensation after arriving at Mexico’s opening match perched on the back of a cargo bicycle, dressed in a Mexico jersey, sunglasses and a cap.
