Madrid-Waddington To Host Public Information Session
Capital Project 2021
Tuesday, November 19 at 6:00 p.m. in the Auditorium
The scope of the project includes areas of roof replacement, high school cafeteria solarium and HVAC work, renovations to the guidance suite, entry door replacement, reconstruction of the boys’ and girls’ locker rooms, loading dock toilet room reconstruction, reconstruction of portions of the technology shop to allow for additional storage and a restroom/concession area with outside access, flooring replacement in select portions of the building with some involving hazardous material abatement, basketball backboard framework replacement, auditorium theatrical lighting upgrades, emergency generator replacement, partial parking lot reconstruction, various areas of sidewalk reconstruction, field improvements for the varsity soccer, baseball, and softball fields, conversion of two of the tennis courts to alternate gameplay areas, and construction of a small pump house.
The cost of the project is set at $5,024,883 which will be partially offset by utilizing $560,000 from the District’s capital reserve fund. The remaining $4,464,883 will be bonded and repaid over a 15 year period. Most of the project, with the exception of the pump house, will be eligible for State aid reimbursement. The District’s current aid ratio is 91.2% which means less than 9% of the project cost will be funded by local tax effort. One of the District’s past projects is nearing full repayment and will be coming off the books prior to this new project repayment so this will result in a net-zero overall tax impact.
The referendum vote date is set for Tuesday, December 17, 2019, from 1:00 - 8:00 p.m. in the auditorium lobby.
Project architects and financial advisors will be on hand to answer any questions.