Northeastern voters will vote on a bond issue May 8 to address the issue of aging school buildings in our community.
The bond issue would fund the local portion of a funding partnership with the Ohio School Facilities Commission to construct two new Preschool through 12th grade facilities - one in South Vienna adjacent to the property of the current South Vienna building, and the other behind the current Kenton Ridge facility.
The state would pay about 40 percent of the cost of the educational portion of the project, if voters in the district vote to approve the bond issue to fund the remaining 60 percent of the cost. The state share is about $40 million and the local share is approximately $61 million. The bond issue would also generate approximately $18 million to fund upgrades the state does not help pay for and land acquisition.
Due to the age and condition of the facilities, Northeastern students and teachers face challenges like leaking roofs, poor air quality, heating and air conditioning regulation, plumbing problems, and other issues. The bond issue would use the state’s funding offer to reduce the cost of addressing these issues for the community.
The total millage of the tax issue is a 7.96-mill bond issue, plus a 1/2 mill maintenance levy, which would cost less than $25 a month, or about $296 annually, for the owner of a $100,000 home. The 7.96-mill bond issue raises $79.3 million over 37 years and the 1/2 mill maintenance levy will fund maintenance and repairs for 23 years.