Here's What You Get With Manasquan Referendum Project (UPDATE)

Manasquan voters approved a school referendum project this week, and the district has outlined what parents and students will get.

The project was approved by a 424 to 352 vote, or 54.64 to 45.36 percent.

Here is what it entails:

Reasons for the referendum

• Existing heating ventilation and air conditioning (HVAC) in the oldest parts of the high school is beyond its serviceable life and is subject to costly repairs.
• The system no longer works effectively or efficiently and has no functioning HVAC controls.
• Cannot control classroom temperatures.
• Cannot control humidity levels.
• The current system has begun to leak and create air quality and mold issues as well as damage to the building.
• Any mold issues have been mitigated and the district continue to monitor school air quality.
• Building does not meet minimum fresh air standards according to the International Ventilation Codes.

Why a referendum?

• 2 percent capped increase in annual tax levy
• No state aide
• Must be approved by Manasquan voters
• Cost allocated over 20 years to minimize tax impact
• Manasquan taxpayers are approved for 40 percent debt relief from the state

Costs

• Total Project Cost: $ 8,647,000
• State aide (40 percent): $3,458,744
• Capital cost to Manasquan taxpayers: $ 5,188,169

Tax Impact

• New issue average tax impact per $100 assessed value: $0.016 / year
• ForeEvery $100,000 of assessed value: $16.29 / year
• Home at $625,018 (average assessment): $101.80 / year