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BOARD CONSIDERING BOND ISSUE

QUICK FACTS: 

  • The Board of Education approved placing a bond issue on the November 2, 2021 ballot.

  • The bond issue is for 2.47 mills, for 30 years. The owner of a home with an appraised value of $100,000 would pay an additional $86.45 in taxes to pay for the bond issue.

  • The district will receive $11,559,512 in co-funding from the Ohio Facilities Construction Committee to pay for a portion of the project.

  • The bond Issue will be on the November 2, 2021 ballot. It is for a total of $55.9 million for the purpose of new construction, improvements, renovations, and additions to school facilities, and providing equipment, furnishings, and site development and improvements for a new middle school.

  • The total project cost is $67.46 million. Taking out the state share (which contributes $11.5 million to the project), the local share/bond issue amount will over the remaining $55.9 to fund the project.

  • The plan includes funding to abate and demolish the current Milford Junior High School.

  • The plan includes funding to possibly abate and demolish Miami Elementary School building, which is the current site of Milford Preschool, Milford Extended Day, and Milford Success Academy. The district will abate the building but, depending on current real estate market conditions, may sell it for profit, or will demolish it and sell the land.
     
  • The plan includes funding for site safety and traffic flow improvements at the junior high and high school campus.