LINCOLN - On Jan. 18, Lincoln residents will be asked to vote on a $2 million, 20-year bond to pay for improvements to the Lincoln Community School building.
The School Board will hold a public meeting on Jan. 13 to present the plan and the financial implications if the bond is passed. Approval of school renovation is required from the State Education Commissioner in order for the cost of a project to be excluded from a school's per pupil spending ratio. Lincoln's original plan, presented to the state in November 2010, was not approved largely due to the fact it included new construction that increased the school's footprint. Both the state and many Lincoln residents felt the original plan was too expensive and not sensitive to the current economic environment.
The final plan is limited to repairs and upgrades necessary to ensure the safety, structural integrity and cost-effective maintenance of the building. This revised plan has been approved in its entirety by the Education Commissioner.
Playing into the timing of Lincoln's vote is the availability of a new, federally backed school reconstruction bond program which could save the town hundreds of thousands of dollars in interest over the life of the bond if an application is made by March 2011. According to a spreadsheet provided by ANESU, if a bond were secured under this federal loan program, Lincoln residents would experience a dollar amount tax increase equal to approximately 0.1 percent of their appraised home site value.
The public meeting about the bond vote to will be held at 7 p.m. in the LCS multi-purpose room. Childcare will be available. For more information, call (802) 453-3540.