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Oak Park District 97 presents $92 million master facilities plan, asks board to approve initial $43M tranche
Summary
District staff recommended a 10-year master facilities plan totaling roughly $92 million and proposed a first bond tranche of about $43 million to fund priority 1 and 2 projects (including life-safety work, elevators, LED retrofits and solar). Board members debated 10- versus 15-year payoff options and tax impacts for homeowners.
District 97 officials on Tuesday presented a 10-year master facilities plan that would spend roughly $92 million on building upgrades and recommended the board authorize an initial borrowing tranche of about $43 million to complete priority 1 and 2 projects.
The recommendation, presented by district staff and the facilities consultant, focuses the first five years on priority 1 and 2 work — items district leaders described as health, life-safety and accessibility projects — and reserves priority 3 items for years six through 10. Staff said the package includes LED lighting upgrades, elevator installation in…
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