Shakopee Public School District outlines $29.5 million plan to repair roofs and parking lots; board set to review funding this summer

District finance leaders told the Shakopee School Board on May 11 that many school roofs and parking lots are reaching the end of their useful lives and the district must plan now to avoid costlier emergency repairs.

"We will not increase the individual tax burden beyond the current levels that are being used for construction, renovations, improvements, maintenance of facilities and outdoor spaces," Director of Finance and Operations David Baskovich said, while describing a plan that prioritizes roofs and parking‑lot access improvements across district sites.

Michael Hart, the district's director of public finance, outlined the proposed financing structure: a five‑year project schedule financed in two phases, with roughly $9.5 million borrowed for construction in 2027–28 and the remainder (about $20 million) to be issued in 2029. Hart said the borrowing would rely on two state mechanisms: an expanded long‑term facilities maintenance option commonly called “LTFM plus” (which now can include roofing projects) and abatement bonds for parking‑lot work that require a public hearing but do not require voter approval.

"We're borrowing about $29.5 million and paying it back over 15 years," Hart said, adding that the district plans to use interest‑only payments for the first three years to align with the construction schedule and existing debt reductions.

Finance staff presented a conservative tax‑impact estimate: in a worst‑case scenario the plan would add about $19 annually for a homeowner with a $400,000 house. Hart said the district modeled the estimate without assuming property‑tax base growth, so actual impact could be smaller.

The presenters said the schedule aims to keep the district’s LTFM program working for routine maintenance while using the new tools to address large projects more efficiently. Hart recommended several procedural steps this summer: include roofing projects in the LTFM plan for board approval in June, hold a public hearing on abatement bonds in July, submit required state “review and comment” materials, and target an October bond sale with a ratifying board action in mid‑October and receipt of funds in November.

Board members asked about project lifespans, inflation assumptions and whether borrowing earlier could save construction costs. Baskovich and Hart said parking lots typically yield 15–20 years, that the vendor’s estimate included a conservative inflation factor and that timing balances market opportunity against interest costs on idle bond proceeds.

If the board chooses to proceed, the next formal steps are the June consideration of the LTFM plan and a public hearing on the abatement bond schedule in July. The presentation materials and the board’s deliberations noted that this approach is intended to protect district facilities and spread costs over time instead of deferring major replacements.