Three Village officials outline $120 million bond plan, estimate $268 annual household impact

Three Village Central School District officials presented a proposed bond referendum for roughly $120 million to pay for roofing, paving, HVAC, science-room and auditorium upgrades, athletic facilities, and other capital needs, and said the district would seek state building aid to cover about two-thirds of the cost.

The board heard that the district would borrow to finance the projects and repay over a 15-year schedule that matches the state’s building-aid amortization, and that the local share would amount to about $3.536 million annually once fully phased in — roughly $268 per average household — while state building aid would reimburse an estimated $6.864 million of the annual debt service.

Why it matters: District leaders said many school buildings date from the 1950s–1970s, requiring concentrated work that would be more expensive if handled piecemeal. Officials framed a bond as a way to accelerate repairs and capture long-standing state building aid that reduces the local cost.

District staff described the referendum process and timeline. A bond referendum is a public vote that (1) authorizes the projects and (2) authorizes the district to borrow money to pay for them. “A bond referendum is a vote,” the presenter said, explaining the difference between large capital work and routine maintenance. The administration said capital projects are eligible for state building aid but routine maintenance is not, and that building-aid reimbursements are typically paid back over 15 years for the types of projects under discussion.

The district’s bond advisory group unanimously recommended moving forward with a referral to voters after a year-and-a-half of review and building tours, the presenter said. The administration told the board it plans to present a final, refined project list at the next meeting; the draft list discussed included roofing, sidewalks, pavement, bathroom renovations,…