IPS seeks to make $95 million in improvements to high schools, other facilities

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by: David Gay

Posted: Aug 29, 2023 / 06:00 PM EDT

Updated: Aug 29, 2023 / 04:53 PM EDT

INDIANAPOLIS — Indianapolis Public Schools is asking the Board of School Commissioners to consider $95 million in improvements to the district’s high schools and other facilities.

During Tuesday’s agenda review session meeting of the IPS Board, the commissioners are expected to host a public hearing and discuss the 2023 deferred maintenance improvement projects. According to a draft of the project resolution, which accompanied the agenda for Tuesday evening’s meeting, this includes athletics improvements, high school repairs and improvements, and fire safety upgrades.

IPS is proposing to issue bonds to pay for this project, with a payoff schedule of 19 years. The district said the estimated maximum tax rate impact would be $0.0873 per $100 of assessed value. The district stressed it would not increase the current 2023 non-exempt debt tax rate if it is approved.

This comes after voters approved a $410 million capital referendum in May. According to the district’s website, this referendum gave the district the chance to move forward with building improvements to more than 20 elementary and middle schools in the district.

IPS officials said the 2023 deferred maintenance projects focus mainly on the high school level, as well as other projects involved in the $1 billion plus in reported needs at IPS-owned properties that were outlined in the 2020 facilities review. The district identified and prioritized the 2023 projects by:

The district outlined the 2023 deferred maintenance projects in the following ways, including the estimated budget for each project:

After Tuesday’s discussion, the board is expected to vote on Thursday on the resolutions for the improvements. The board is also expected to vote on a preliminary determination and reimbursement resolution, which outlines the estimated costs and the expected tax impact. Public hearings are also expected to be hosted surrounding this topic at Thursday’s meeting.

If the measures are ultimately approved by the board, IPS officials expect the board to consider resolutions on the need for projects and various lease matters during its Oct. 26 meeting. The board will then vote to authorize issuance of debt, approve the sale of land and approve the preliminary offering statement in November while officials finalize the debt issuance by the end of the year.

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