4 Takeaways From $92.5M Bond Referendum Forum In Lacey

LACEY, NJ — District officials laid out reasons they believe a $92.5 million bond referendum is necessary for Lacey at a community information forum Tuesday night.

Lacey Township High School Principal Jason King, himself a lifelong resident who attended Lacey schools before becoming a teacher and moving up the ranks, insisted that students deserve to have a school they're proud of.

At the moment, the district's schools have waterlogged ceiling tiles, failing HVAC units and uneven flooring. Baseball games have to get canceled after rain because the fields don't have proper drainage. Cheerleaders are wearing long sleeves inside the gym and are still shaking because the heating doesn't work properly.

All of this is why district officials are hoping residents will vote "yes" on three questions at the special election March 11.

Here are four takeaways from the forum, which can be viewed online as well.

The Projects

Three questions will be placed on the ballot. The first one is about $30 million and asks to replace the roofs at the high school and middle school. The current roofs are out of warranty and need to be replaced entirely.

"Maintenance only gets us so far," said Acting Superintendent William Zylinski. He noted that many residents have asked the district why they haven't kept up with repairs and maintenance. He said that they had, but at a certain point, replacements are necessary.

Question one is also "tax neutral," Zylinski said. The timing coincides with old district debt expiring, so it evens out if the first question is approved, making no tax increase.

"We don't want to squander this opportunity," he said.

The second question seeks to replace HVAC systems. Most are at least 20-years-old, Zylinski said, with some being even older. Just recently, aged HVAC in the middle school broke down.

Question three is a little bit of everything. There are locker room repairs, parking lot paving and what Zylinski called "the lightning rod" - a new turf field at the high school.

Athletic Director Aimee Del Vento said there was a lot of miscommunication around the turf field. It would be used for football, baseball, soccer, field hockey and lacrosse - not just "a football thing" as she said some people think.

A turf field would be low maintenance and could be rented out to third parties for things like baseball tournaments, which could provide more revenue for the district, Del Vento said.

There is no "bait and switch" either, Zylinski said, addressing another misconception. All projects must be done exactly as they say they are on the ballot. Funding cannot be used for anything else.

Why A Bond Referendum?

A bond referendum unlocks state aid that is otherwise unavailable to districts, officials said. State aid will cover 40 percent of the costs.

Bond counsel Everett Johnson explained that it's similar to a mortgage - the district borrows money and then pays it off over a period of time. In this case, that's 20 years.

Also, that state aid comes from the state budget, primarily from gross income taxes, Johnson said.

The Tax Impact

The first question, as previously stated, has no tax increase. The second question comes with an increase of $12 per month for the average Lacey home assessed at $287,011. The third question has an increase of $8 per month for the average home. You can use this calculator to find your personal impact.

This won't hit all at once, according to financial advisor Jennifer Edwards. She said that depending on the schedule, the tax increases could be implemented over time.

There's also the chance the interest rate could come in lower and decrease the tax impact. And refinancing down the road could change rates, too, she said.

If all questions fail, the average homeowner will see a decrease of $110 annually. That said, Zylinski noted that repairs and replacements will be needed whether the bond referendum passes or fails.

What If It Fails?

Question one must pass for the other questions to pass. So, voters can approve all three, one and two, or one and three.

If it all fails, though, repairs will still be done. But 100 percent of it will be funded by taxpayers, Zylinski said. The projects will also be delayed and be more costly in the end.

For example, the high school roof needs to be replaced. The district would have to borrow a five-year loan for $5.7 million, Edwards said. In comparison, if the referendum passes, the roof would be fixed and more equating to the $30 million of projects in question one.

The special election day is March 11. You can learn more here.