Troy schools take first step towards bond issue


Bond would raise $98M; state share 42 percent

By Melanie Yingst - Miami Valley Today



TROY — Troy City Schools took the first of two steps on Monday to place a bond issue on the March 2020 ballot to build new elementary schools.

The board approved to move forward with the issuance of bonds for $98,688,238 for the purpose of of raising funds to build three new elementary schools to house grades Pre-Kindergarten through fourth grades and a new fifth and sixth grade middle school. The funds also include new furnishings, equipment, technology and site improvements.

Earlier this fall, the OFCC revised its state share of funding to 42 percent of the $98 million project. Official millage will not be determined until the Miami County auditor certifies the levied funds needed for the project. The bonds issue will be 37 years and includes a 0.5-mill dedicated to maintenance of the facilities. The current interest rate for the bonds is 4.25 percent.

The funds also include funds to abate and demolish Concord, Cookson, Forest, Heywood, Hook and Van Cleve elementary schools. The district has not yet determined what, if any, buildings will be sold or re-purposed.

The board will take action to finalize the facilities plan and funding at its December meeting.

The district recently purchased 19 acres to build a Pre-K-fourth grade building on State Route 718. The property is located at 2811 W. State Route 718 and the purchase price is $375,000. The property owner is Patty Harshbarger.

The property will replace the current Concord Elementary School, which just commemorated its 100th anniversary on its site. The district continues to review property sites for an additional Pre-K through fourth grade building in the southern area of the district.

The district’s plan is to build three new Pre-K through fourth grade buildings at the current locations of Cookson and the new location for Concord Elementary and a new site in the southern area of the district. A middle school would be located at the current Hook Elementary site and would house fifth and sixth grades. Hook and Cookson sites have city park land to expand its footprint.

In other news:

• Superintendent Chris Piper presented the board with a variety of data charts, breaking down the district’s report card and comparing them to similar district scores. He shared his plan on how teachers will be challenged to raise their scores at least two points each year. Piper said the district plans on compiling data to pinpoint areas of improvement each year.

• Concord Elementary School Principal Dan Hake highlighted the school’s 100th anniversary. Hake shared how student council members served as tour guides, sharing information about the building. He said both students and attendees shared stories, both old and new, with one another. Hake said it was a positive event and a highlight of the school year.

Bond would raise $98M; state share 42 percent

By Melanie Yingst

Miami Valley Today