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Board holds preliminary hearing on Boulevard Elementary renovation and proposed $11.26 million lease
Summary
At a July 6 preliminary hearing, the Kokomo School Corporation described plans to renovate Boulevard Elementary and proposed a 12‑year lease financing of up to $11,260,000, an estimated debt-service tax-rate increase of 0.0069 per $100 of assessed value; no public speakers signed up.
The Kokomo School Corporation held a statutorily required preliminary hearing July 6 to receive public comment on a proposed renovation and financing plan for Boulevard Elementary School. Dr. Sargent explained the scope and the financing proposal and said no board action would be taken at this hearing.
Dr. Sargent said the project would renovate outdated systems at Boulevard Elementary, add a new office, cafeteria and kitchen, improve the site and purchase equipment and technology. "To fund the proposed project, Kokomo Schools is proposing an estimated 12 year lease of Boulevard Elementary School for up to 11,260,000," he said, noting the district expects increased enrollment and described the financing as consistent with the district’s practice of replacing retiring debt with new debt.
The administration provided an estimated debt-service fund tax-rate increase of 0.0069 per $100 of net assessed valuation for 2026 and stated, "Assuming current conditions remain unchanged, the proposed project is expected to have a negligible impact on taxpayers." The board opened the hearing for public comment, but the chair said no members of the public had signed up to speak and the hearing was closed without testimony.
The board set a second public hearing for the same room on Sept. 9, 2026, at 6 p.m. as the next step in the statutory process under Indiana Code 6-1.1-20-3.1.
