Voters to decide $30 million school improvements on Feb. 28

GOSHEN — The Goshen school district wants your vote. And it won't cost you.
School officials have promised throughout the planning process that the district's $30.48 proposed million capital improvement project will have no effect on the local tax levy, even with the building of a new addition.
The vote will be held from 6 a.m. to 9 p.m. on Tuesday, Feb. 28, in the Board of Education Room at the Main Street Administration Building, 227 Main Street, Goshen.
The proposed capital project focuses mainly on the high school and includes site improvements, renovations and additions.
District-wide information technology (IT) infrastructure will allow the district "to increase its educational opportunities, improve learning environments, address safety and security, enhance its arts programs and upgrade its athletic facilities without impacting the tax levy."
The centerpiece is a 15,000 square foot addition that will provide four new classrooms, centralized  administrative offices, and a security vestibule at the front entrance.
For more highlights, please see sidebar or visit goshenschoolsny.org.
The no-tax breakdownThe district explains how the multimillion project will happen without an increase in local school taxes: "Think of it as buying a new car: your current car is almost paid off, and you purchase a new car with a monthly payment that is equal to or less than your current monthly payment. You don’t feel a difference in your bank account because you are continuing to pay the same payment for your new car as you did with your old car. "
Here's the breakdown:
Capital reserve fund — The project will be funded by $9 million from the district’s capital reserve fund and $1,343,184 allocated by New York State through the Smart School Bond Act.
State aid — The remaining $20 million from the local tax levy would be bonded, and approximately $17 million of that cost will be offset by state aid over 15 years.
Expiring debt — The proposed project is timed so that debt service from past capital projects will soon be retired. The estimated local share to be paid by taxes for the new capital improvement project will be approximately $171,058 less during most years than the local share that is currently being paid on the retiring debt — thus resulting in no impact to the tax levy for debt service.
Debt service reserve fund — State aid will not cover the entire local share in fiscal years ending June 30, 2017-2019, and the district may use money from its debt service reserve as well as building aid and appropriated fund balance to ensure that the project does not affect the tax levy during those years.
Bond schedule — The project will be paid with bond anticipation notes (BANs) for the first three years beginning in 2018, and will then be bonded for 15 years from 2021-36.
Source: goshenschoolsny.org