More About the Issue
More on the Permanent Improvement Levy
By placing this on the ballot as a permanent improvement levy, these funds must be used exclusively to maintain buildings and property, which is important given that Olentangy currently maintains three high schools, five middle schools, and fifteen elementary schools. The upkeep of these buildings is critical to extending their useful lives.
By requesting a PI rather than placing these needs as part of a bond issue, the district saves taxpayers money because there is no interest expense associated with a PI. Furthermore, future school board members and administrators will have to use these funds solely for permanent improvements.
More on the Bond Issue
The Facilities Committee is a group of district taxpayers with extensive professional expertise in construction, architecture and technology. Based on the Facilities Committee's report as well as additional research, the school board then determined that the best option to manage current overcrowding and projected enrollment growth is to build a fourth high school. The fourth high school is estimated to cost $69.6 million.
The bond package also includes $2.2 million to purchase the currently leased Olentangy Academy building, which the district is currently leasing for $200,000 per year. This facility houses four programs - the OASIS program, the district’s Mentorship class for seniors going on internships, the Academy for Community Transition (this helps students with disabilities who have already graduated improve their job training skills), and the district's new STEM (Science, Technology, Engineering and Math) program.
Finally, this bond package includes $7.8 million for buses and specific roofing needs. The buses will be purchased to handle enrollment growth and bus replacement, and the roofing needs are anticipated for normal aging of buildings.
Financial Structure of the Bond Issue