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District explains how state aid and grants offset but don’t eliminate local cost for $79.7M package
Summary
Officials said state aid formulas gave a limited eligible share for new construction and a larger share for renovation items; Dr. Fisher listed $79.7M as the project estimate and said the district secured $1.4M in legislative support and expects a $4.2M state contribution for renovation items under question 2.
Dr. Fisher told attendees the full package is estimated at $79,700,000 and explained that the state uses a formula to determine PEC (percentage of eligible costs) that reduces the portion the state will fund for new construction compared with renovation work. He said legislators had committed an additional $1,400,000 toward the effort and that the district has pursued other grants prior to asking taxpayers to borrow.
On ancillary items (referendum question 2), Dr. Fisher cited a projected project cost of $7,400,000 and said the state's aid contribution toward those eligible renovation costs would be approximately $4,200,000. He urged residents with tax‑impact questions to use the district's online tax calculator and said bond counsel and finance staff will provide a full amortization schedule at the August technical session.
