CAPITAL PROJECT VOTE - TUESDAY, MARCH 26, 2019

6:00 am to 9:00 pm
VOTING LOCATIONS  -- NOTE: Registered voters must vote at a designated polling location based upon address. THESE LOCATIONS MAY DIFFER FROM YOUR POLLING LOCATION FOR GENERAL ELECTIONS. The listing below is a guideline but there are some exceptions. If you are unsure of your polling location, please call Susan Dieck at 845 878-2094, ext. 202 or Ines Petterson at 845 878-2094, ext. 215 during normal business hours.
Carmel High School -  for residents of the Hamlet of Carmel, Putnam Valley and Southeast
Kent Elementary School - for residents of Kent and East Fishkill
Matthew Patterson Elementary School - for residents of Patterson

VOTER INFORMATION, INCLUDING VOTER REGISTRATION & ABSENTEE BALLOT APPLICATIONS

Got questions??  E-mail us at BondInfo@carmelschools.org

ABOUT THE CAPITAL PROJECT BOND PROPOSITIONS

On Tuesday, March 26, 2019 voters of the District will decide on two capital project bond propositions. Proposition A addresses critical infrastructure issues, library improvements at GFMS, compliance with the Americans with Disabilities Act (ADA). Proposition B includes the replacement of our current aging and out-of-compliance transportation facility. These propositions are separate and independent of one another. Each will be considered by voters and each will be decided by a majority vote. Take a moment to read the facts about this proposal. We welcome your comments and questions, which can be directed to BondInfo@carmelschools.org or to Mr. Eric Stark, Assistant Superintendent for Business at 845 878-2094, ext. 215.

 

Please make an informed decision at the polls.

 

What's included in the propositions (video clip from 1/8/19 BOE meeting)

 What's included in the propositions (PowerPoint presentation from 1/8/19 BOE meeting) 

 Preliminary FInancial Information as presented at the 1-22-19 BOE Meeting  
(NOTE: The financial information has been adjusted since the 1/22/19 meeting. The up-to-date information is posted below)

HERE ARE THE HIGHLIGHTS

PROPOSITION A -- $16,623,404

  • ROOF REPLACEMENTS - All or part of the roofs at all five school buildings have reached the end of their useful life. $14,958,135.  Click for more information.
  • LIBRARY IMPROVEMENTS - The current GFMS library is original to the building (1970's). Improvements will be made to modernize the space for 21st Century learning $637,650. Click for more information.
  • AMERICANS WITH DISABILITIES ACT (ADA) COMPLIANCE - Make identified areas in each school accessible to provide equal opportunities for all. $1,027,619. Click for more information.

PROPOSITION B -- $10,925,736

  • TRANSPORTATION FACILITY - Purchase land and construct a new transportation facility that will be compliant with NYS Department of Environmental Conservation. Plans include blacktop parking for all 120 buses and a bus wash. $10,925,736. Click for more information.

HERE IS THE BOTTOM LINE

The average annual increase/decrease for a house assessed at $350,000 during the peak years (2020-2026). After this the average levy would decrease due to retiring debt service:

  • $2.49 per YEAR for Proposition A only
  • $2.18 per YEAR for Proposition B only
  • $11.04 per YEAR for Propositions A & B combined

 The remainder of the cost is to be paid for by retiring CCSD debt service in coming years and NYS building aid at the District's current rate of 60%.

How it differs from previous referenda:

  • Presented as 2 independent and separate propositions--each to be decided by a majority vote
  • Interest payments are reduced by over $2 million by amortizing bonds over 15 years instead of 30
  • Costs have been reworked:
    • Prop A--Cost reflects an increase in the scope of the roof replacements and cost of roofing and construction materials
    • Prop B--Cost reflects a reduction in the land purchase price and reduced scope of the transportation facility

A LOOK AT CURRENT CONDITIONS

QUESTIONS WE HAVE HEARD...

We’d like to share some of the questions we have heard regarding the Capital Project.  If you have a question please send an email to BondInfo@carmelschools.org so that we may respond.  We encourage you to get the facts and make an informed decision at the polls on Tuesday, March 26, 2019 

MORE DETAILS ON THE FINANCIAL IMPACT

How much will we pay?
Estimated local share of the project calculation, based on 3.5% interest rate and 2018-19 tax levy:

  • Proposition A only (15-year amortization)
    • Projected cost of project:        $16,623,404
    • Interest:                                       +$4,821,739
    • Projected cost w/Interest:      $21,445,144
    • Reduced by NYS aid (58%):   -$12,353,233
    • LOCAL SHARE:                          $ 9,091,911

  • Proposition B only (15-year amortization)
    • Projected cost of project:        $10,925,736
    • Interest:                                       +$3,408,716
    • Projected cost w/Interest:      $14,334,452
    • Reduced by NYS aid (69%):   -$9,948,895
    • LOCAL SHARE:                         $ 4,385,557

  • Propositions A & B Combined (15-year amortization)
    • Projected cost of project:        $27,549,141
    • Interest:                                       +$8,651,631
    • Projected cost w/Interest:      $36,200,772
    • Reduced by NYS aid (58%):   -$22,302,127
    • LOCAL SHARE:                           $13,898,645

Even more details:

ABOUT THE WORDING ON THE BALLOT

What does the ballot language mean?

The District must word the ballot according to NYS law. While we must use the phrase “…that a tax in the amount… such tax to be levied and collected…and a tax is hereby voted to pay the interest...” the taxpayers’ actual share of the cost is far less than the stated amount of $16,623,404, plus interest for Proposition A and $10,925,736 plus interest for Proposition B.

This is because with the District’s favorable building aid ratio, we will receive up to 60% in New York State aid on a large portion of the proposed projects and associated interest payments. In addition, the projects have been timed to take advantage of retiring debt service (from previous projects) over the coming years.

The projects will be bonded over time and monies will not be borrowed until needed.

How do the propositions read on the ballot?

BOND PROPOSITION A
RESOLVED:
(a)                That the Board of Education of the Carmel Central School District, in the Counties of Putnam and Dutchess, New York (the “District”), is hereby authorized to construct various improvements to District school buildings, substantially as described in a plan dated December 5, 2018, entitled “Carmel CSD Proposed Bond-Proposition A” prepared for the District by Sammel Architecture PLLC, and to expend therefor an amount not to exceed $16,623,404; (b)  that a tax in the amount of not to exceed $16,623,404 is hereby voted to pay the cost thereof, such tax to be levied and collected in installments in such years and in such amounts as shall be determined by said Board of Education; and (c) that in anticipation of said tax, bonds of the District are hereby authorized to be issued in the principal amount of not to exceed $16,623,404, and a tax is hereby voted to pay the interest on said bonds as the same shall become due and payable.
BOND PROPOSITION B
RESOLVED:
(a)          That the Board of Education of the Carmel Central School District, in the Counties of Putnam and Dutchess, New York (the “District”), is hereby authorized to acquire land and construct thereon a new transportation facility, substantially as described in a plan dated December 5, 2018, entitled “Carmel CSD Proposed Bond-Proposition B” prepared for the District by Sammel Architecture PLLC, and to expend therefor an amount not to exceed $10,925,736; (b)  that a tax in the amount of not to exceed $10,925,736 is hereby voted to pay the cost thereof, such tax to be levied and collected in installments in such years and in such amounts as shall be determined by said Board of Education; and (c) that in anticipation of said tax, bonds of the District are hereby authorized to be issued in the principal amount of not to exceed $10,925,736, and a tax is hereby voted to pay the interest on said bonds as the same shall become due and payable.