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The 2024 Proposal

The 2024 referendum focuses on essential upgrades

  • Safety Enhancements: Upgrading fire suppression systems and enhancing entry-point security, along with ensuring ADA compliance.

  • Infrastructure Improvements: Replacing aging roofs and HVAC systems, and ensuring ADA compliance, Asbestos Abatement

  • Educational Space Expansion: Creating new classrooms, media centers, and student support spaces.

  • Funding & Community Impact: The proposal seeks $26.3 million in referendum bonds, with a manageable tax impact to ensure long-term sustainability and continued educational excellence.


Hynes Elementary School
Hynes Elementary School Main Entrance  Operations & Maitenance $10,429,000
Life Safety  $638,400
Capital Improvement $714,000
 Total  $11,781,400

 
 

Mobile classrooms, a safe and secure main entrance, and a new traffic pattern

  $8,640,000 

Golf Middle School
 Golf Middle School Main Entrance Operations & Maitenance  $8,580,880 
Life Safety  $1,128,600
Capital Improvement  $2,570,400
 Total  $12,279,880
 

GRAND TOTAL

 $32,701,280

 

Funding the 2024 Proposal

 Voting Icon  Building and Contract icon Hand holding bag with dollar sign icon  Hand with dollar coin above 
$26,300,000  $3,400,000  $3,000,000  $300,000 
 Referendum Bonds Non-Referendum Bonds Fund Balance Possible State Grants

 

Possible Impact to Community

   $26.3 Million Referendum Bond Issue

   Repaid Over 20 years

  

     0.356

     Tax Rate Increase
     Due to Bonds

 

$287/Year

$300,000 2,3
~$24/Month

 

$340/Year

$350,000 2,3
~$28/Month 

 

$394/Year

$400,000 2,3
~$33/Month


1 Interest rates for Aa3 Illinois bond issues as of August 12, 2024 plus 0.50% interest rate cushion.

2 Median home sale value according to Zillow is $401,352 as of July 31, 2024.

3 Impact on market value home calculated by taking market home value time 10% times 2023 Cook County Equalization Factor 3.0163 less $10,000 homeowner deduction times the estimated tax rate per $100 of equalized assessed valuation.