Public Info Session Set For $92M Bond Referendum In Lacey

LACEY, NJ — An upcoming public information session is set to discuss the details of the upcoming $92.5 million bond referendum that Lacey Township residents will vote on in a March 11 special election.

The meeting will be held Jan. 28 from 6:30 p.m. to 8:30 p.m. in the Lacey Township High School auditorium. Panelists will include Board of Education members, district staff members, the architect who helped develop the plan to meet the district's needs, and the advisers who estimated the financial details of this proposed investment. Following the presentation, the panelists will be available to answer questions.

The school district is hoping residents will approve $92.5 million, three-question bond referendum that would fund long-lasting facilities improvements and major infrastructure upgrades. A voter-approved bond referendum would unlock approximately $35.8 million in state aid to help offset the costs if all three questions are approved.

READ MORE: $92M Bond Referendum For Lacey Schools In Store: What's On The Ballot

“Our school buildings are well maintained, but many systems and structures have reached the end of their useful life. The need for updates can’t be ignored. Some of the older equipment requires costly repairs, and those costs directly impact our budget, and ultimately, our students,” said Acting Superintendent William W. Zylinski in a news release. “The state aid and upfront funding available through a voter-approved bond referendum would give us the opportunity to make these important improvements in a fiscally responsible way.”

In 2023, the district conducted a comprehensive facilities study to assess and prioritize pressing building needs. The results of this study lead the district to plan for a bond referendum, which divides the projects across three questions.

If all questions on the ballot are approved, the district would be able to complete $92.5 million in improvements with up to 40 percent of the eligible costs, which for Lacey Township is approximately $35.8 million, being covered by state debt service aid.

The estimated school debt tax increase is based on the average assessed home value in Lacey Township, which is $287,011.

• Question 1 on the ballot would bring the district about $30 million in improvements with NO school debt tax increase, with the state paying an estimated $12 million of the project costs. The district has timed the referendum to take place when a drop in debt service occurs. If approved by voters, the new investment would replace the previous improvements for which the district issued debt. With voter approval in March, tax payments for this next investment would pick up where previous payments drop off.
• Question 2 on the ballot would bring about $38 million in improvements to the district, with the state paying approximately $15.2 toward the total costs. The owner of a home assessed at the township average would see a $12 per month increase in school debt tax.
• Question 3 on the ballot would bring $24.5 million in improvements to the district, with the state paying approximately $8.6 million toward the total costs. The owner of a home assessed at the township average would see an $8 per month increase in school debt tax.

To see a full breakdown of the projects by each school and detailed information regarding the funding strategy, visit the district’s dedicated bond referendum page at www.laceyschools.org/vote, which also includes a list of frequently asked questions.