District 65 Calls Special Meeting To Discuss Middle School Bond Issue

Submitted by School District 65

The Lake Bluff Elementary School District 65 Board of Education will hold a public meeting on Monday, June 29 at 7 p.m. at the Lake Bluff Village Hall regarding the sale of $5,750,000 in Working Cash Fund Bonds to support additions and renovations to Lake Bluff Middle School.

The project is to be funded with a mix of reserves and non-referendum bond financing.

At its June 16 Board of Education meeting, the Lake Bluff Elementary School District 65 Board of Education approved an agreement with Wight & Company Architects for the purpose of Lake Bluff Middle School additions and renovations at a cost ranging between $6.5 and $9.2 million dollars. Plans include renovations to all Science lab/classrooms, restructuring the main entrance/entryway, a complete renovation of the Library/Media Center, moving classroom space up out of the basement into a new wing of classrooms as well as adding additional classrooms to the band wing to accommodate Art and Chorus, moving Special Education classes out of the loft in the Library, and refreshing all classrooms and common spaces with paint and new flooring.

The District Office will also be moved into the renovated basement space, saving approximately $60,000 a year in rent.

At the same time, the Board called on financial experts to determine how the requested improvements might be funded to ensure that it is manageable for taxpayers. The project will be funded with a mix of reserves and non-referendum bond financing. The additional cost of borrowing to tax payers, for a home valued at $500,000, would be approximately $112 per year over the 20-year life of the bonds.

On Monday, June 29, the Board of Education has scheduled a public hearing “concerning the intent of the Board of Education of School District Number 65, Lake County, Illinois, to sell $5,750,000 Working Cash Fund Bonds for the purpose of increasing the Working Cash Fund of said District for renovations.”