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Village Council 9.6.16

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Brenda Moll

on 25 April 2017

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Transcript of Village Council 9.6.16

Revere Bond Issue
November 8, 2016
FACTS/Bond Issue FAQs
Be Informed!
November Bond Issue Campaign
Goal Areas
1: Performance
2: Financial Stewardship & Accountability
3: Facilities
4: Technology Integration & Infrastructure
5: Staff
6: Student Well-Being and Safety
7: Communication, Collaboration & Partnerships
8: Accountability

-Cost of Proposed Bond in the Amount of $68.2 million dollars
-"No New Tax" Partial Offset
- Economic Market - The Time is Now
* Bond Rates
* Construction Costs (12% increase in Sq. Foot Cost)
* Cost of New High School in 2006 versus 2016 ($200 per Sq. Foot Compared to $224 per Sq. Foot)
-Strong Property Values in Revere Translates to Lower Millage for Constituent
Personalized Instruction with the 5 C's
Content, Communication, Creativity, Collaboration, Critical Thinking
amilies and
ogether for
FACTS is a group of citizens committed to one goal:
passing levies and bond issues that re vital to sustaining the academic excellence, which distinguishes the Revere Local School District as a premiere learning community. The group is determined to work positively and collaboratively with all stakeholders to gain increased awareness of the district's financial needs as they pertain to short term and long range financial goals.
Building Conditions
Bath Elementary
Exterior Wall Structural Setting & Wall Movement/Vinyl Asbestos Floor Tile
Deteriorating Structure and Foundation Walls at Old Coal Bin
Wall Separation from Floor
Water Infiltration at Wall
Revere High School
Deteriorating Concrete Stairs and Retaining Wall
Wall and Foundation Cracks / Deterioration
Insufficient Electrical / Data Outlets
Deteriorating Plumbing System
Corroded Guard Rails and Grating at Air Intake
Masonry Damage from Flooding
The 30 year bond, if passed, will raise $68.2 million for the district. Because we have an existing bond off in December 2016, the cost increase for a homeowner is only projected to be less than $8 per month per $100,000 home. In other words, the taxpayer is currently paying 1.59 mills or $4.64 per month for the existing bond issue that is being retired and that payment will figuratively be redirected towards the new bond. See the below chart.
What will this cost me?
* The estimated figures are based on information certified by the county fiscal office
The existing bond, which will be paid in full, was approved by the community in 192 and was used to fund district-wide building renovations.
Full transcript