Commissioners voted unanimously Tuesday night to move forward with the referendum, which includes the construction of a new elementary school and additions and renovations to multiple schools, among other items, according to a notice from the board's website.
Leases for the projects will be for a maximum term of 30 years with a maximum aggregate annual lease rental of $45 million, according to the notice.Marc Ransford, a spokesman for IPS, says the referendum will"support new construction and renovations to expand and enhance the elementary and middle school experience address critical deferred maintenance needs in some IPS-owned school facilities.
It would raise $50 million annually until 2031 and would propose a local property tax levy of no more than $0.25 on each $100 of assessed valuation.IPS says its Rebuilding Stronger plan will provide equal opportunities for all students and allow them to take care of necessary building maintenance and repairs.
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