Stow-Munroe Falls schools approve placing 8.89-mill, 35-year bond issue on fall ballot

The Stow-Munroe Falls school board on Monday approved sending ballot language to the Summit County Board of Elections for an 8.89-mill, 35-year bond issue in November.

If approved by voters, the funds generated by the bond issue would pay to replace the district's elementary schools, intermediate school and middle school with four new elementary schools and a new middle school. The Board of Education offices also would be moved to the Woodland Elementary School, and the current administrative office on Allen Road would be sold.

Background: Stow-Munroe Falls school board makes first move toward $238 million, 35-year bond issue

The levy would generate $238 million and would cost owners of a home valued at $200,000 nearly $622 annually.

The district will be working with the Ohio Facilities Construction Commission , said Interim Superintendent Kristen Prough. As a result, the Stow-Munroe Falls schools can receive a 27% reimbursement for costs covered under the state's regulations.

Board member Mike Sheehan said he received a letter from a resident who moved to Stow about five years ago. She stated that in that time, her taxes are now more than $39,600. She said she would be talking to her neighbors and encouraging a no vote on the issue.

Board Vice President Pamela Wind agreed that the monetary figure was daunting but would be a better deal long-term.

"Buying a new building is never comfortable," Wind said. "It's expensive. To me, looking at those renovation versus replacement numbers, it tells me that it's absolutely the better choice for our money than continuing um to engage in all of the maintenance that we currently do. That's a place where I think we could maybe do a little bit better job of kind of working on getting the word out."

Wind was referring to a guideline from the OFCC that recommends that if the cost to renovate a school building is more than 66% of what it would cost to construct a new school, then it would be better to construct a new school.

Reporter April Helms can be reached at ahelms@thebeaconjournal.com

This article originally appeared on Akron Beacon Journal: Stow-Munroe Falls schools approve placing 8.89-mill, 35-year bond issue on fall ballot