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Bond committee recommends $125.1 million referendum; board delays vote
Summary
A district bond committee recommended a roughly $125.1 million bond package, citing a 66% state building aid rate and a 15‑year term; the board moved to table a vote after questions about timing and budget context.
District staff and members of a community bond committee recommended that the Three Village Central School District pursue a bond referendum of about $125,100,000 to address a long list of building projects, but the board voted to table the resolution for now.
The recommendation, presented to the board on Jan. 22, came after more than a year of bond committee work and building tours. The committeereported a project list with approximately $125 million in construction needs and recommended placing them on one referendum.
District staff said the district's building aid ratio is 66%, and that the state returns roughly two-thirds of eligible costs (including a share of interest on borrowed funds) in building aid. Presenters said a 15‑year bond term aligned with the period that building aid is received and noted some districts choose longer terms; they recommended matching the bond term to the 15‑year aid schedule to avoid carrying costs after aid expires.
Staff described two practical scheduling options for a referendum: a March 18 ballot, which would coincide with budget season and the governor's then‑recent budget proposal, or holding a referendum in the fall after budget adoption. Staff said that even with either date, construction earliest start dates would likely fall in the 2026–27 school year with major work in summer 2027 because state education approvals and design take time.
The administration outlined a proposed two‑proposition structure: a first proposition focused on safety and security and other essential infrastructure work, and a second proposition (contingent on passage of the first) to fund turfing a football field and air conditioning projects in cafeterias and gymnasiums. Staff estimated the bond by itself would raise the average taxpayer's taxes by about $284 per year over a 15‑year term, not accounting for existing debt service that is scheduled to expire in coming years.
Board members expressed concerns about timing given the governor's recently released budget proposal and asked for further analysis and community engagement. After discussion, a motion to table the bond resolution was made and carried without recorded opposition.
Next steps: present further financial detail, timing options and community engagement plans before the board schedules a referendum vote.
