Pencil and Paper

Henry-Senachwine School District #5 - Master Facility Planning – Update

June 25, 2024

At the June 18th Henry-Senachwine CUSD #5 Board of Education meeting, a community forum was held to review the District’s master facility plan, the budget for the project work, and to provide an overview of the bonding and tax implications associated with funding the project work. At the forum, community members were able to ask questions and provide feedback to the Board of Education, as well as representatives from BCA Architects, Midwest Construction Professionals, and Bernardi Securities.

The Board of Education appreciates the questions and feedback from community members and continues to prioritize the facility project work. The main priority of the District is the addition of a new high school academic wing, as well as, identified immediate needs at both the high school and grade/junior high school, such as upgrades to plumbing, electricity, roofs, parking lots, HVAC, and other identified health life safety/maintenance items. Remaining facility project work would be phased in over years. If it is decided to move forward with a new high school addition, it could be completed for the start of the 2026-2027 school year.

The current statutory debt limit/borrowing capacity of the District is approximately $18 million. The District does not plan on having the new high school addition and facility project work voted on through a referendum, but intends to fund the facility project work by issuing bonds to borrow the funding. At the community forum, a representative from Bernardi Securities provided an estimated homeowner tax impact analysis for issuance of bonds to fund the facility projects. Below is a general overview of the property tax implications of issuing bonds/borrowing $18 million for project funding. The estimated yearly tax increase range is dependent on if a 20-year or 30-year borrowing term is applied. The entire presentation from Bernardi Securities is available on the District website under the “Master Facility Planning” tab.

Market Value of Home

Estimated Yearly Tax Increase

$100,000

$194.07 - $246.00

$200,000

$430.73 - $546.00

$300,000

$667.40 - $846.00

A representative from Bernardi Securities will be available to individually review the tax implications for farm land owners. Notice will be provided once those times and dates are scheduled.

The District extends a thank you to those who were able to attend the community forum last Tuesday and will continue its work on prioritizing the facility projects, reducing project cost, and developing a plan to phase in the facility project work.

A PowerPoint presentation of the updated schematic design and tax implication analysis is available on the District website at www.hscud5.org, under the tab “Master Facility Planning”. The District will continue to provide updates on its master facility planning on its website, under the tab “Master Facility Planning”. The Henry-Senachwine Board of Education will continue to meet monthly and welcomes public attendance at the meetings.

Sincerely,

Dr. Michael Miller
Superintendent