Northwest Allen County Schools has the flexibility to buy real estate under a $5 million, board-endorsed project.
The district earmarked $1 million for real estate in a general obligation bonds budget that also includes districtwide capital improvements.
The budget line for real estate doesn't necessarily mean the growing district – now serving about 8,000 students – will buy land, said Bill Mallers, business manager.
For example, he said, the project's roof replacement at Maple Creek Middle School could exceed its $1 million allocation, and the board could decide to cover the extra expenses with funds earmarked for real estate.
Should the need for additional property arise, board authorization exists to proceed, Mallers said Wednesday after the board approved three resolutions related to the capital improvements project.
The district bought 98 acres along Hathaway Road three years ago for Aspen Meadow Elementary School, which opened this academic year. The property cost $1.4 million.
The project approved Wednesday is expected to address maintenance and upgrades at every NACS building, Mallers said.
Larger items include an estimated $350,000 boilers replacement at Carroll Middle School; a $1 million investment in technology upgrades and $1,025,000 in improvements at Carroll Freshman Center.
The anticipated gross impact on the debt service fund tax rate is just under 17 cents per $100 assessed valuation, Mallers said.
“However, the net impact on the rate is no increase on our total rate,” he told the board. “This is a good time to do these capital improvements.”
Mallers noted the debt will be paid by Dec. 31, 2022. The board approved the project in a 4-0 vote with President Kent Somers absent.