Nordonia Board of Education members decided July 18, by a 4 to 1 vote, to place a $165 million bond on the November 8 ballot.
Board member Matt Kearney was the single “no” vote on the bond issue. “Financial struggles are real,” Board member Matt Kearney said during the meeting. “For me, it’s a matter of timing,” Kearney added. “As Board members we absolutely, 100 percent, have a duty to be good stewards of taxpayer dollars.”
Increasing inflation, rising construction costs and current district bonds were among reasons Kearney cited for his vote. “Let’s put our ducks in a row and let the community decide,” Board member Jason Tidmore said of his support.
If passed, the bond will pay for construction of three new buildings, which would house all of the district’s grades.
Board member Chad Larhmer broke down the projected cost to homeowners, in a July 19, Facebook post.
“A $165 million bond issuance at an estimated interest rate of 5.25 percent over a 37 year payback period will result in a tax levy of approximately 7.81 mils,” Larhmer posted on his Facebook page. “The cost to a homeowner will be approximately $273 per year per $100,000 of home valuation. “
Larhmer said the The 5.25 percent interest rate has a cushion built in, just in case municipal bond interest rates continue to rise between now and when bonds would be issued. The bond issued in 2000 will be paid off in three years, and real estate taxes will decrease by about $75 per $100,000 of valuation, Larhmer posted.
He added that a bond issued in 2008 will be paid off in eight years, which will decrease real estate taxes an additional 12 per $100,000 of valuation.
“Our architects and consultants estimate an annual savings of approximately $700,000 per building per year for each building that is closed over a 10-year period,” according to Larhmer. “So, if the District consolidates down by 3 buildings, it would provide operational savings of $21,000,000 over the next 10 years.”
Spending $165,000,000 on inflated construction supplies to build new facilities doesn’t make sense to me, nor does it to a lot of community members I talk with,” said Kearney.
District buildings range from 50 to almost 100 years old, Larhmer said. “Our community has a duty to our students to provide them the best possible education in the safest environment,” Larhmer posted. “How can we ask our students to compete in a global economy and to thrive in the technological age with buildings that were designed for a very different educational experience?”
Most of the 233 responses to Larhmer’s post were against the bond.
Tim Ellis has three children who attend district schools.
“Our treasurer recently sounded the warning that the district is already spending more than it receives and will be broke soon,” Ellis posted. “Shouldn’t we balance the budget first so we don’t have to cut busing and layoff teachers again?”
Many posts stated that the timing was wrong for an added bond. “Why do it now when inflation is so high,” one poster asked. “Why not wait for a few years when the other bond falls off?”
However, not all responses to Larhmer’s post were negative.
“I think the three buildings are ideal for the development and general community culture of the students as well,” one parent wrote. “And I’m super excited. We need it here.” Another parent posted “I cannot wait to vote for this.”
Kearney also posted his response on Facebook July 19.
“Spending $165,000,000 on inflated construction supplies to build new facilities doesn’t make sense to me, nor does it to a lot of community members I talk with,” Kearney posted.
“Though I voted no on this recommendation as I believe the time is simply not right, I will respect the board’s decision moving forward,” he posted.
Most of the 39 comments to Kearney’s post were against the bond.
One parent posted that she recently heard about the proposed bond and was “enraged by these arrogant people.”
Another parent responded “BOE members are out of their minds”.
The community should get the chance to decide, not the Board, Tidmore said. “They will let us know,” Tidmore said of the community.
