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District 57 says construction is on track; board to consider $31 million bond sale in June
Summary
District administrators told the board that the Building Brighter Futures projects are progressing and that construction bids came in under budget. The administration recommended selling an additional $31 million in referendum bonds; the board plans a June resolution with an anticipated July sale.
District 57 officials reported steady progress on the Building Brighter Futures projects and told the Board of Education on May 20 that construction bids came in under budget, prompting a recommendation to sell an additional $31 million in referendum bonds.
The board heard that the new school’s framing, roofing and cafetorium work are advancing and that Westbrook’s site work — including courtyard topsoil removal and drainage installation — is underway. District leaders said sprinkler piping for the lower level will be installed this summer and other phases will follow so the addition is ready when construction is complete.
Administrators told the board that, because bids trended below original estimates, the recommendation is not to sell the full $85 million authorized by referendum immediately but to sell $31 million more now, which would bring the total sold to about $81 million. The administration said it will bring a resolution to the board in June authorizing the $31 million sale, with the sale planned in July.
Board members and the Citizen Finance Advisory Committee discussed how to allocate D‑sub funds (reported as about $6 million) and an earmarked fund balance (about $6.1 million). CFAC flagged the timing of Cook County tax deposits and possible state legislative changes as items that could affect district cash flow; CFAC plans further review in fall meetings. District leaders said they would examine fund‑balance policy and compare neighboring districts’ approaches before making final decisions.
No formal bond sale resolution was adopted on May 20; the board was presented the timeline and asked CFAC to continue its review. The administration emphasized that some referendum proceeds remain unsold and that the district has three years to sell D‑sub bonds if it chooses not to do so immediately.
What happens next: the administration said it will return to the board with a formal resolution in June to authorize a $31 million bond sale, with closing planned in July.
