The Genoa school board last week passed a resolution to place a 1.9-mill, 28-year bond issue on the November ballot to fund the local share of construction costs for a new elementary school building and renovations to the high school.
If approved by voters, the issue would generate about $5.23 million for the project, which will also be funded by $13.7 million from the Ohio School Facilities Commission and a $6.2 million credit the Genoa district has with the OSFC.
Voters will also decide a 0.5-mill permanent improvement levy that is required by the OSFC to provide revenues for maintenance and repairs for buildings funded by the commission.
A new elementary building would house kindergarten through the fifth grade and be constructed at the campus on Genoa-Clay Center Road where the high school and middle school buildings are located, said Dennis Mock, school superintendent.
The school board is scheduled to meet this Friday at 5 p.m. to discuss planned renovations for the high school, including a new roof, upgrading of the electrical system, and new restrooms at the high school stadium.
Some improvements to the high school the board may adopt will have to be covered by revenues from the bond issue, Mr. Mock said, because the OSFC program doesn’t fund some types of improvements.
The board and administration were looking to scale back the proposed project so the high school will only be renovated rather than razed and a new building erected, he said.
“This is something we’ve wanted for 10 years,” he said.
A change in state law allows districts eligible for OSFC funding more flexibility in the projects they pursue by letting them upgrade some buildings instead of having to construct new facilities.
In March, Genoa voters turned down a 4.9-mill bond issue to pay for the local share of construction for a new high school and new K-5 elementary school.
The costs of those buildings were projected at about $37.6 million and the district was to receive about $21.8 million in OSFC funds if the issue had passed.
The school board estimates the cost of the November issue to someone in the district with a home with a market value of $100,000 will be $58.19 a year in additional property taxes.