The East Grand School District wants voter approval to invest $ 85 million in capital improvements, including the construction of a new elementary school in Granby.
At the August 17 school board meeting, members voted 4 to 1 to approve a ballot question calling for the district’s debt to be increased by $ 85 million with a repayment cost of up to $ 159.5 million. . Vice President Angel Higginbotham dissented.
To fund the obligation, district taxes will increase to $ 7.1 million per year for the next 20 years. This means that an individual owner would pay $ 44.48 more in taxes per year for every $ 100,000 of value, while commercial properties would pay $ 180.42 more.
The bond money would be spent on the capital projects outlined in the poll question, including the acquisition of land and a new elementary school in Granby with potential for future growth. East Grand Superintendent Frank Reeves previously said the Granby Elementary School has reached its maximum capacity and has no room for additional classes.
The bond would not only finance the new primary school. The money would also be used for upgrades to safety, security and U.S. Disability Act compliant upgrades, physical upgrades and renovations at the other three schools, a facility for a new curriculum professional and technical skills and space for student and school mental health counseling. nursing services.
In a related but separate action at the same meeting, the board approved a capital lease on land that could house the new elementary school. Pending a legal review, the board of directors approved the lease in a 3-2 vote with Higginbotham and Trevor Corbin dissenting.
The plot is known as Reclamation Ridge Lot 2 and is adjacent to the East Grand Middle School. The lease is $ 3,000 per month for one year with an option to purchase the 21 acres at any time for $ 1.25 million, and the lease payments go toward the purchase price.
Until the surety passes, the district will pay for the lease through the capital reserve funds. If the bond does not pass, the council plans to review the lease, which the district can withdraw at any time.
The district has not yet officially concluded the lease as soil samples are still pending to ensure the viability of the plot. In June, East Grand contracted for another plot until a further review of funding sources forced the district to withdraw from the deal.
East Grand gained voter approval last November to increase the district’s factory tax. This was different from the question asked to voters in November, as the 2020 measure can only be applied to the remuneration of teachers and staff.
The measure added $ 1 million to district salaries and was passed with over 60% of voters in favor. Teachers and staff have seen their salaries increase by 15% for the 2021-2022 school year thanks to higher taxes.