Home News Transcript News Transcript News Colts Neck will seek approval for $34.6 million in school improvements

Colts Neck will seek approval for $34.6 million in school improvements

COLTS NECK – Oct. 2 has been set as the date when residents of Colts Neck will be asked to approve school construction projects in a special election. Two public questions will propose improvements in the Colts Neck K-8 School District totaling $34.6 million.

The school district is comprised of the Conover Road Primary School, the Conover Road Elementary School and the Cedar Drive Middle School. District administrators said the questions will be worded as follows:

The first question will state: “The Board of Education … is authorized to undertake a school facilities project consisting of (a) the upgrade and renovation of the Cedar Drive Middle School and the Conover Road Elementary School to provide for new/upgraded flooring, casework, windows, roofing, toilet facilities, ADA improvements, HVAC system, classroom/emergency lighting, doors/hardware and electrical system, interior upgrades and site improvements including pavement improvements;

“(b) the upgrade and renovation the Conover Road Primary School to provide for new/upgraded doors and hardware and reconstruction of parking lot and driveways; and (c) reconfiguration of Conover Campus roads to provide safety/security improvements.

“The board is authorized to expend up to $24,816,000 on such project and issue bonds for such project in an amount not to exceed $24,816,000. The state has agreed to provide debt aid in the amount of 40 percent of the ‘final eligible costs’ of the school facilities project. All of the costs of the projects are ‘final eligible costs.’ ”

The second question will state: “If and only if proposal No. 1 is approved, the board … is authorized to undertake a school facilities project consisting of the upgrade, renovation and expansion of the Cedar Drive Middle School to provide for the addition of an auditorium, stage and ancillary areas, a new fitness room, new toilet facilities, gymnasium storage and replacement of canopy.

“The board is authorized to expend up to $9.79 million on such project and issue bonds for such project in an amount not to exceed $9.79 million. The projects set forth above are other capital projects and are not eligible for state support.”

The total cost of $34.6 million is accounted for in the following manner: $11.04 million for improvements at Conover Road Elementary School; $10.34 million for improvements at Cedar Drive Middle School; $9.79 million for auditorium renovations and improvements at Cedar Drive Middle School; $2.44 million for campus reconfiguration at the Conover Road schools; and $1 million for improvements at Conover Road Primary School.

District administrators said the bonds issued for the projects would have a life of 25 years and an estimated interest rate of 4 percent. This means that based on Colts Neck’s average home assessment of $818,792, the average tax impact on a property owner would be  $297 from question one, $169 from question two, and $466 per year if both questions are approved by voters on Oct. 2.

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