On Thursday, Sept. 4, Manhasset parents and administrators gathered for the regularly scheduled School Board meeting and listened to what the Long Range Facilities planning group had considered for inclusion in a possible bond referendum.
The Board and administration had determined a total of 43 projects which comprise 20 programmatic projects ($19.9 million), 21 infrastructure projects ($5 million) and 2 athletic projects ($1.5 million) totaling $26,456,758 if all the projects were to go forward.
The referendum would total $24,706,758. The additional source of funding would include $1.5 million from the 2010 capital reserve and $250,000 targeted gifts from the SCA.
Assuming an issuance of 20 year bonds of $7 million in June 2015 and $17.7 million in June 2016, and an assumed interest rate of 50 basis points above current similar AA credits, the estimated annual tax increase beginning in 2016-2017 is $196 per home (based on the average assessed value of a home in Manhasset of $1,016,400.) (For more details see Ongoing Long Range Facilities Planning BOE 9 3 2014)
The decision will be finalized by resolution at the BOE meeting on Oct. 9 held at the EOC located in Great Neck. There will be two board meetings before the vote on Sept. 18 and Oct. 2.
