The Greene County Schools board plans to take advantage of the Iowa legislature’s extension of the 1-cent SAVE (Secure an Advanced Vision for Education) sales tax to beef up the plans for repurposing the current high school as a middle school.
Extending the tax beyond its original 2029 sunset allows school districts to continue borrowing against anticipated tax revenue.
According to school superintendent Tim Christensen, that will let the district “do a lot of nice things to the building,” referring to the repurposing project.
The board discussed borrowing against future sales tax proceeds at its regular meeting June 19. Christensen reported the district’s financial consultants calculated the district could borrow up to $12.5 million to be repaid with future SAVE revenue.
The total budget for the construction of the career academy and high school, and the repurposing of the current high school, included using $4.5 million in SAVE and PPEL (Physical Plant and Equipment Levy) revenue. Repurposing the high school was budgeted at $1.5 million prior to the bond referendum.
OPN Architects identified a total of more than $6.5 million in work needed (or desired) at the high school.
Without borrowing additional funds, the repurposing would include renovating the gymnasium, remodeling the office space to accommodate the district office, demolishing the shop and some work on the fire alarm system.
Also on the list is work to comply with code/accessibility requirements, replacement of ceilings and flooring, and mechanical and electrical work. Those items total $4.4 million.
Repair to the east parking lot and decorative columns at the entrance would add another $409,000.
“We still won’t get the whole wish list, but we’ll get most of it,” board member Sam Harding said in reference to adding $3 million to the project.
Replacing roof top HVAC units accounts for $561,000 of the list. The board later in the meeting approved replacing seven of the nine units this summer at a cost of $113,700. That will be done with existing funds.
The board agreed by consensus to move forward with borrowing an additional $3 million against SAVE revenue, with a plan to spend the money on the repurposing.
Christensen stressed that it will not add debt load to district property taxpayers, as SAVE is a sales tax.
Also as part of the discussion, Christensen alerted the board that a revenue purpose statement for SAVE revenues must be put before voters. A special election in September is possible, or it could be on the ballot in the regular November election.
Christensen again stressed that it will not add to property owners’ tax bills.
