001e testing testing 1 2 3 testing e for e okay all right I would like to call this motion this this meeting to order and I would like a roll call by secretary Pro Kim Pro Tim Jamie Z stum Mr alch here uh Mr Brown here Mr gyos Dr Hall present Mr swales zeit stumbris here okay thank you so much and I would like to have the Pledge of Allegiance led by board member barck followed by a miss statement followed by Dr Hall pledge allegiance to the flag of the United States of America and to the Republic for which it stands one nation under God indivisible with liberty and justice for oh thank you and our mission statement is to engage and Empower our students to positively impact their community and future thank you Dr
002Hall and board member uh Nelson as well so we do have a reason to go into close session at this time and that reason being the selection of a person to fill a public office as defined in the open meetings act including the vacancy in the public office when the public body is given power to appoint under law or ordinance or the discipline performance or removal of the occupant of a public office when the public body is given power to remove the occupant under law or ordinance 5 Illinois compile statute 1202 in parentheses CS in Charly in parentheses number three can I have a motion to do as such so moved second okay motion is we have a motion and has been moved a roll call please Madam Secretary Miss stumbris I Mr swales I
003Dr Hall I Mr gagos Mr Brown hi Mr alre hi that's it is that it okay we are in closed session we will be in closed session approximately two hours and we will come back out and carry on with the rest of our agenda so about two hours we thank you much public for your patience e for e for e e e was e e e okay e e e would e e e you e for e e e all right we have returned to the table to reconvene this meeting we have already called this meeting to order and we will continue with our agenda being on number five public comments do we have any comments public comments okay no electronic or comments all righty do we have any board updates I have a couple
004things one um the District craft fair was wonderful everybody that puts that together and all the hard work that goes into that is great and then I had the pleasure of attending the ilmea concerts the Illinois music Education Association concerts for district one and I just wanted to give a huge shout out to all of our students that were selected to participate in either the bands or the district Coral program a selection where they have to audition and all of the performances were really great that day and they did a wonderful job and where was that Hill uh Elmhurst University oh wow way up North yeah so you had to bring your kids out there and they did a whole day working or Rafe was in it as for the bands but I know there
005was a choir and we also had a jazz band student that participated and they work with coral directors and band directors from different universities so I know the band worked with um the marching B director from Northwestern for the day wow great job make sure you submit your reimbursements for your travel mile stop it no that's all right thank you so much for member Jamie anybody else uh yeah there was the play um what was it called oh she kills monsters yeah that uh was really uh exciting because my kid was an understudy uh but on Friday night it was under study night so I got to see her perform and it was awesome wow so cool so she's the next person to be nominated for Academy Award yeah okay make sure you make that
006nomination yeah why not all right excellent and that was held here that was here at the auditorium okay that was a Thursday Thursday Friday Saturday thing so I only got to see it one night okay great all right any other updates um I went out to Glennwood chadam chadam Glennwood whatever it's called and uh to support our football team in the playoffs they run they came short but they fought they fought well fought hard it was a it was a pretty good game it was well thank you thank you for making that trip and again make sure you put your travel mileage I did it got turn got turn down come on gas is going down we can afford it okay thank you for representing the board all all three of you anybody else all
007right I just have a couple things that I like to share with the board for board updates and they are that Dr coges and and myself was able to attend the that's kind of what the Smart Lab that was held at tala and borrow that was awesome as well that was the that was the ribbon cutting and it took us two turns each with the biggest scissors you can use to cut this little thin ribbon okay two people but we made it happen didn't we we did and I think johnel had a lot to do with that thank you johnel super assistant superintendent Perkins there that was really really a fun event and we kind of Knocked two birds out with one stone Dr koganes and I at borrow we was able to cross over
008the hallway and witness some vets right the J was there with the with the veterans veterans and that was yes so that was nice I did kind of get over to Bor not toala a little late and transition from one building to the other Dr cogy and myself has some emerging things come up but nonetheless I made it and I was the last one in that room and when I opened up the door the kids surprised me I almost had a heart attack they surprised me and that that was really a good feeling not the heart attack feeling but just the feeling of being recognized there as the board all right and also uh assistant superintendent per assistant superintendent of curriculum Mrs Perkins and I and the whole team is going down some Bloomingdale this
009Thursday to present on Friday about the kids Summit I so we're going to have a 75 minute presentation with a little segment of myself think I you know I've been selected as the only board member of three districts that's going to be presenting that I will have a small tidbit of a of the presentation as well so wish me well with that and last last but not least I will be sending out to the board members Dr cogy was able to and with the help of Cheryl uh put kind of a time frame for me to meet with the principles all of the principles over the next several months and I'm going to send it out and I'm soliciting one board member each obviously we cannot have more to attend just a coffee to have
010a coffee with each principal at each building over the next couple months so thank you Dr car and Cheryl for getting that together for me and that's all I have uh without further Ado moving further down the agenda I'm going to turn it over to our superintendent number seven administrative updates well I've got some good news to share right away if you turn to the right you will see some of our students here and they are with our uh Future Farmers of America look at them coming looking all sharp and Miss beraki uh our teacher over there um they're here to share about a conference they just attended in November I believe and they had some pretty exciting news that happened at that concert conference so M Baki why don't you go ahead and uh
011fill in the rest so is it on maybe okay okay there we go um so first of all I just want to thank you guys for taking the time to have us here our students were really excited about um the convention that they were able to go to so we appreciate the approval of that trip being a 4-day overnight trip um gave me a few extra great hairs but that's fine um keeping track of these kids um so each one of them is going to share just about a minute about their experience and about the time that they had um but I wanted to give you guys some quick numbers which you should have on that flyer there as well if you did not get your handy dandy calcul out yet um under our costs
012um we received a grant from ADM to enhance diversity and participation of our diverse Learners in agriculture and in FFA so overall aside of the kids and their souvenirs um the trip total cost was 8,862 of which our students had to pay zero so they were able to attend this conference for nothing all supported by that grant that we received um we had 16 students go one adviser one chaperon and one bus driver and for my band and show choir um Drama parents in here we had Miss Dolly we love her she's our favorite um so that's just a quick wrap um our kids have done some really great things um before they share about their experiences some of the big highlights two of our students were asked to join the Illinois State Association FFA
013Equity diversity and inclusion task force after their participation in this conference um our students as a result of their participation in those activities and the FFA for all um student Workshop they have planned to host their own diverse student networking Workshop here at the high school um and invite all of our local diverse Learners um we had two students receive job offers at the convention um for postgraduation two of our seniors um and one of the biggest things that I am excited about are students participated in a stamp challenge doing different activities with case New Holland each completed stamp card was an entry into their raffle and Creon was selected so we will be receiving a Precision agriculture technology farm equipment Simulator for our classroom so those are my highs um and I'll really quickly
014our kids would each like to share a brief about their experience wow hello my name is Malachi Cliff I'm a junior and that trip was just amazing I met so many people and gotten so many opportunities to you know just make new connections and I was I was I don't know it was exciting um one of the things that I was like most proud of was me getting interviewed by farmweek one of the most popular farming radio stations and so they P published me on their uh radio station and if you look up my name Malachai Cliff you can find it and um that was wasn't the first time I got I've gotten interviewed uh there I got interviewed again with when they asked a you know a riddle question um like a would you
015rather question and I was on the big screen there and you know the trip was just really fun we went to a rodeo and we did all types of Fun Farm things and I appreciate you all for allowing us to go and I want to go again is great hello everybody my name is Melissa pow I am the vice president for our FFA chapter and I'm also a junior during our trip we had um diversity forall Workshop that I really enjoyed we later got to do a meeting planning things for the future we also did community service which I thought was really cool because everybody know starting this year we had to have our hours for community service so I really thought that was a good idea for some students there to get to gain
016their community service hours not only gaining our community service hours we also got a chance to work with people work with new people and just talk to people we were working with and working for it and I really thought that was a good opportunity to meet new people so it was really enjoyable like Malik I said I hope I can go next year too wonderful excellent hey guys my name is uh Gerard Fleming uh and I'm just a member of the FFA chapter I didn't go to National Convention but I just wanted to share uh my experience in the class FFA food science food and agriculture so I own a business with uh my girlfriend and we make we're floors we make flowers and um the work-based learning program and FFA it's really like to
017helped me you know just maintain my business it's giv me a platform to to make flowers in class and you know just work on my business and get points for it and you know just yeah yeah I feel like that's really important and uh yeah that's that's one of the big reasons I like FFA just oh and also I want to be a farmer when I grow up so without FFA you know it's kind of it's kind of hard to do that I had to figure something else out so yeah thanks thank you um hi hello my name is karavan um I went on the trip and I would just I would say that this trip wasn't just a chance for me to get away it was a chance for me to not only meet
018new people but also connect with the people that are already in our chapter um I had a great time um I made friends in Hawaii friends in New York it was it was just really enjoyable and a very good way to get to know people outside of our state and network and understand you know how the FFA programs work in other states um I would definitely like to go again and I would recommend this experience to any of the students that go to the high school um yeah thank you excellent hello everyone my name is Sarah mberg and I'm a junior um one of like the biggest highlights from my experience from convention was the workshops um they had I would say about 15 different workshops that you were able to attend on a schedule
019and some of them were just um about kindness uh creating good habits working with the FFA and they were just good to socialize so I walked in with a few members from our FFA and had I not been forced to sit at a table with students from other chapters I wouldn't now have friends from Texas California Oregon and Alabama wow so I'm just grateful for the opportunity to talk to people from around the nation so it was just good to socialize great hello my name is Amaya buers I'm a junior at Creet Mon and to piggy back off of what um kiamara and Sarah said um the entire event was about gathering in community and engaging with other people and one of those activities presented at the convention was you would go around and you
020would interact with um people working the convention and they would give you a pen if you were resembling proper behavior and as you can see I have two of them um there was there was five I think and I'm so sad I didn't get any but next year next year if they have anything else I will be there um but that's that's pretty much it the Gathering the community seeing everyone be there and engage it was something really beautiful great of reive only reive it's not engaged confence parpa excellent oh okay it's kind of tall um hi my name is Elise Porter um I'm a junior and um to start off I wasn't exactly um when I heard about National Convention I was really excited but then I was very scared about the social spectrum
021because I am a person who is scared of being a social light um but being there made me feel like I was being at National Convention made me feel like I was way more welcome than I expected and I felt like I could just go up to somebody like for one of the things there was a um pamphlet that we got that also had a map and you could also get um signatures from people of different states and different places and um I just started going up to people and asking and I felt more and more comfortable like I could really just do whatever I could and um for the um FFA for all um I even decided to speak and like Malachi was I was on the big screen too which I would have
022never expected me to be on um but it really helped me um meet new people and make connections with people who are already here and um be open to be a you know a better person and be a more open person and make more opportunities in my life because this was a big opportunity for me so thank you wow thank you hi my name is Austin Delby I'm the uh Secretary of recit uh F uh I'm a really big introvert and going to National Convention helped me expand and get a lot more social than I normally would be like sorry uh like I met someone from Alaska right and then a guy from Hawaii came over started talking about everything they had over there and everything that they did over there that was really fun
023uh my favorite thing was the farm we got to go to a r University we got to we got to pick some fresh tomatoes that was pretty fun um but I love I love learning about how all the how all the different plants uh reacted to one another and how they all came together to form like this awesome thing they were making a um it was like a greenhouse made out of a shipping container to grow uh a certain type of mushroom which is pretty pretty fun um but but seeing everyone connect and everyone mingle and it was it was a really really fun time to go wow [Applause] excellent thank you everyone for your time apprciate you having us here share all the awesome experiences distri appr thank you so much thank you thank
024you so much yes hold on don't leave yet we we're going to com hold on I'm sure we're going to have some comments here from our board members here anybody would like to add I would just say um to all of you I mean it sounds like a great experience but the more than anything every time we have a chance to have students come to our board meeting I'm just blown away by the quality of our students that are in Creek Moni so thank you for being a part of it and representing us well and I think being on the board is exactly this one of the reasons is this right to give them the opportunity to showcase who they are and then showcase Creon of who we are yes great job yes anybody else
025I'm actually part of a farming family my in-laws and my husband work an active Farm um so it's really great to see these opportunities being given and just the diversity and it's so important to keep these jobs and skills and educational opportunities available so thank you for your interest in it too I just love that you all are out here learning something that I I know as as a student I didn't get an opportunity to do I love the jackets by the way too I really do um but no I'm I'm it's what did you say you said you were going to get us one oh I'm what's the teacher's name I'mma chop it up no no seriously I'm this makes me proud it really makes me smile um I love to see that we
026have other activities because I'm really into sports but I'm I'm really into activities for students opportunities for students whether it's sports related or being a part of clubs or because there are so many more things that that we learn and like what it did for you all it opened a lot of a couple of you all up to being um to me meeting new people talking to new people and that's huge to me so yeah the amount of uh opportunities that you guys have like I didn't have this when I when I was in high school I didn't have uh farming as a top priority of mine but uh you guys uh took it and ran with it and it's just uh I'm very proud uh to see that you guys are taking advantage and
027living living your best life so congratulations guys yes excellent and just to add a little bit and re just kind of diddle what all of our board members have said so far good job good job the collaboration I heard entrepreneurship there just the partnership the benchmarking and finally I think it was the last speaker that talked about a tomato I have not been able to grow a tomato in my life and I'm reaching out to you if you need a little parcel of land I got a little farm land in the district that you want to practice on reach out to me and the first thing you ought to plant is that tomato I do I you could talk to me offline and it'll be uh for nominal fee you know maybe $5,000 a week
028or what no I'm just kidding I'm just kidding tomato Tomatoes absolutely free okay if there's no conflict over there please it just all I ask that you give me a Tom M what you grow good job excellent good job and I chopped I will probably chop your name up that's I'm going to call you a teacher beri but I gu I asked the super how you that so good job I appreciate it all right good job all righty thanks for being here thank you all right moving on seven Alpha number two and I'll let you take it from there okay a couple other quick items to highlight um we have a press uh 116 it was a first read again these are these this week there's just a few of them they were all just
029uh footnote updates so you can take a look at them a little bit later um item three is this uh cre intergovernmental agreement um as you know in the newsletters I've been talking about my um involvement with the creit community and I work with several other uh creit facilities the library the park district um The Village trustees and what we've been working on we meet once a month and we figure out how we're going to share information get information out to the communities um and so what we've come up with is we will be putting together a combined newsletter uh highlighting a few things that each of our uh taxing bodies I guess if you will does and so um what the agreement is is we're just going to going to basically share the expenses
030of this newsletter in um the postage and things like that and pushing it out and I think we're going to be doing that I think three times a year so we've already got most of the draft done we'll be pushing out the the newsletter in uh January but again it's just another way of showing our community that we are integrated we support one another's work um and uh it's just another good way of uh of sharing that message out to the residents especially those that don't have students in our district we want to share what's going on in our district is there a plan to do similar agreements with some of our other communities like Mooney University Park just because I mean C's great but we got we got lots of other communities it's a
031matter of uh they started that in the village and they invited me to attend oh perfect so I think it is a great idea if we could get other villages to start doing those kinds of things that would be fabulous okay but I agree with you if anybody watching heard that let her know yeah um and then I have this should have been under me well it is under my good news my the creek boundary update as you recall I think earlier in this year uh we had some uh very concerned families that came to us because of our boundary uh issues that we had had um working with our attorney we put in our waiver and we did get a waiver from the state so those families will be grandfathered in here until their
032children graduate the district so we're really excited about that it's it's not just the it's not just the five years it's all the way through until they graduate the district wow that's awesome so um so what we're going to do our office is going to be uh putting together newsletters uh or information going out to those families that was correct right Jason I just want before I you have me thinking about that I think it's renewed the waiver uh is approved through the 2028 2029 school year so we will have to reapply so it's good for 5 years but it's on our radar we'll make sure that we apply um leading up to those years okay but we're fairly confident if they've applied if they said for once that they're going to continue with that
033so I have a question on that yes so it's for five years but now in the areas are you going to uh address the map to to where it's fixed and then what if someone that store moves in and they want to go to the district how do we prevent more families that aren't here yet applying to our district well it's it's uh family specific and so we are going to be linking it with our Registration Department for those families specific um so you know as as people move in or if those families move out the people that are moving in then belong to the next district with the Stagger so that's a registration thing then right so they have to make sure that they're watching in that area that okay because you know what
034may happen is someone will move in or someone will have a child you know they have a baby and a couple years and like hey we want to go to the LC well my neighbors go to the LC but why can't we I just want to make sure this is for families to continue on that have been here but nothing future they're going to go to What's The District number Stager and then the boom High School all right so and and just feeding off that bill is I think we need to put measures in on our side when it comes to registration specifically for this area we're talking about that we do not accidentally enroll allow people to enroll in our district I don't know how we're going to do that but just you know
035we see that say Hey this this area this this is this area we're talking about and we can let the because we have some ownership in this too right Dr Eric do you want to comment on that yeah we already do have those safeguards in place okay uh with registration they're already checking the tax bills on will will County's website so anybody that's in that area even if a tax bill is not provided they will go on Will County site and check to see where the taxing body is and if it's not us they'll direct them to either 194 or 205 uh if they're Bloom okay okay 206 sorry okay so we do have some checks and balances in place already right yeah okay so that's it for good news for me and then on
036to business got a couple presentations this evening good evening president Brown distinguished members of the Board of Education Dr Kagan uh I'm here to present to you a updated short-term facility Improvement plan uh this is called Plan B uh it was originally uh displayed in February of 2024 and I'm here to run through some updated numbers as we progress through uh our capital projects in the district uh what you see here is our first slide probably should have got my like walking around a little bit more I'm sorry about that okay so what we have here you guys are familiar with the slide uh originally U put out by Mr CA uh one line that I did include in here that I would like to bring your attention to is uh contract balances for the
037summer of 2024 okay we are in the process of closing up some of those projects so what you see the amount above them were the original contract amounts and then we have currently what is left to pay on those projects so um that'll flow into uh subsequent slides as I go through here um in terms of Summer 2025 we obviously will um begin the Sports plex at Creon High School school I actually have two Representatives uh Joe Shu and D pafford the regional sales manager and a project manager from Burns and Jones here um to thank you guys for awarding the job to them last month um so in addition to that we tentatively have uh earmark replacing exterior doors at the elementary schools and then possibly looking to add some classroom Furniture in the
038Middle School um the following subsequent year the 2526 school year we are going to put on the uh addition and the renovation to creep Moni middle school that has been previously presented along with also addressing rooftop units that are in need of replacement over there um tentatively also have window replacement um scheduled at our elementary schools and I'm sorry I did uh skip over the roof replacement at CTO Elementary which we started this past summer that was the first year of a three-year project that went very well um aside from replacing the windows um we're also looking to address the Fieldhouse floor and creep Moni High School um it's experiencing some cracking and uh yeah some structural issues there in in the flooring at the high school so in total um in terms of projects
039that we have estimated and contract balances that are out there we're looking at 39,2 69,500 Middle School you have up there the the stuff you did in the locker room and renovation that's 100% complete now right you yes we paid that all off so we've paid those contractors off that was through um tiles and styles with the flooring and the corridors it was the locker room Renovations and upstairs where the pickle ball court was installed so yeah that those jobs have been completely um closed out and the rooftops over at the uh middle school when you do the addition those are on the existing part of the building not the new Wing that we did roughly 10 12 years ago right it's on the exist it's on the older stuff correct we're looking at replacing
040those and then also seeing how maybe I'm sure this might be a little bit more your world but how those units with the new classrooms and things along those lines so if we have to do any other work in terms of engineering and make you're updating the technology in there for all that stuff too is that that's included yeah that's what's included in there because we know those rooftop units are getting to the end of their expected life Jason um replacing exterior doors is that from wear and tear or is it a safety issue um kind of combination of both to be honest with you Nelson um it's it's you know the district invested heavily in the HVAC for those uh buildings and I think that's uh one part of a three-part process you know
041you obviously want to make sure that you have proper windows in there also doors so doors would be insulation issue and then also security but for the most part there's no glaring security nor uh needs with any doors that we see but you know you are seeing after so many years the salt come up onto them you see the the cracking at the bottom and things along those lines and in 2026 is phase three where you're doing the windows because there's probably no value in them anymore right meaning they're they're leaking and yeah I mean we're we're and you know uh obviously these are rough to estimates with doors and windows um given you know projecting cost couple years down the road but this is the best we could do with the estimates that we
042have hey Jason I just have a question regarding the doors themselves we had many doors that was on our life last life safety survey that needed to be replaced MH slash repair I think it was more so replaced are these the same doors we talking about here I thought we completed the life safety issues um back the 20134 life safety issues again which included several doors through of several buildings and now I'm seeing these new doors right now I'm just curious to see are we talking about new doors well the doors that were cited in those reports were addressed uh but I can't say that those report those doors every door in every building was cited as a life safety issue okay uh can you bring back to the board what specific doors were talking
043about as they were conveyed in our life safety you see we're not talking about the same thing yeah I can definitely cross reference you know because again it was communicated to the board that those life safety issues as they relate to exterior doors at various buildings were completed you can put that in the FY yeah I can I can get I can get that information to you and um you know as as Nelson inquired is this about you know is it a security or is it is it a uh like an instulation issue I think the reason that we were kind of retrofitting all the doors is to make sure that they were all updated some doors may have been addressed where the fact of matter is we can resolve the life safety issue without
044having to replace the door so I can definitely do we had priced we have the cost of affiliated with those doors were door Replacements specifically for critical life safety issues so I just want to make sure that those doors again were replaced and we're not talking about the same doors yes sir okay so go back and look at the 2013 Life Safety survey and see if any of those doors are repeat you know did we actually address them or this is a new set of doors here that's I can do that for you I appreciate that's all I have no problem any other questions regarding this slide okay so here you have um and these are the uh itemized repairs or itemized projects that each Elementary School breaking down by the time frame so summer
045of 2024 obviously those were the numbers that flow through from the previous slide um summer of 2025 uh that's just a breakdown of what you saw on a previous slide um per school and then also given the time frame so um like I say we we've worked our way through summer 2024 and then we're going to have our eyes on summer of 202 5 as we proceed um mon we just had the furniture done there nothing really uh capital projects wise and then we have tala that's seen a significant amount of work um this summer also and um as you guys can see only thing that's left for those uh Elementary School schools aside from creep mon I mean creep Elementary would be doors and windows summer 2024 at the high uh middle school as
046Bill inquired that $478,000 was uh included the three projects which is the carpet replacement in the corridors the gymnasium balcony renovation and a locker room storage project um this year we tentatively have slated 200,000 for classroom furniture and then the big project will be in the summer of 2026 when we uh renovate the interior portion of the middle mid school and add on the exterior classrooms in addition to working and addressing the rooftop units so we actually using phrase renovation now the phrase oh yes okay set of what well technically we were addressing those things we deemed to be not address the life safety issues we hit up on some other things when you hear the word renovation it's like we doing everything right that's that's all I'm saying that's the perception people have we
047renovated this school you know it was it was more give a facelift because we didn't have the funds per se we did the life safety issues tackled the some other big guns like air conditioning fire systems and all of that replacing pipes that was part of life safety issues and we had some ancillary funds kind of flown around that we want to at least do some facial aesthetic things like painting flooring things like that and we was lacking the funds to do some of the other big guns like roof replacement windows replacement that is deemed renovation right too and parking lots parking lots doing on the parking lot so that's where we're looking to go right now to make these buildings completely renovated I guess yeah I I understand what you're saying so I think
048I understand what you're saying address the life safety violations now we're looking to enhance the en our fac again I don't want to prolong this conversation but we we pretty much at the point where we need to get the next life safety survey right yeah we've had those schedu you said we do have we scheduled those um with helium Bender yeah this is the year start and come along that that comes in parallel with that shortly thereafter or maybe even before we have a physical assessment that we pay paid a lot of money in the past for right I'm talking about in a little $250,000 for the life safety $250,000 for the physical assessment and under that physical assessment we capture the things that we would like to do to renovate okay so that's kind
049of where we are now from the old physical assessment we're addressing some things that we consider to be non-life safety but we are capturing it sounds like some life safety issues being the doors I'm assuming well I'm assuming Mo if you look renovation is only used once and it's only in reference to $68,000 that's what I'm saying but the rest of them are not listed as a renovation so Windows replacement of doors are you categorizing that as renovation you don't have to answer think about it I want put you on you know I just want to know just again go back and look at our last physical assessment life safety and just see what are we extrapolating things out of there out of the physical assessment and be nice to say hey we addressed this
050that's off our chart this was kepted already under a physical assessment or are we going to have our architect was our architect involved with this at all um in regards to this presentation no just well just with finding capturing the things and items to do here was um yeah to be honest the more and more I think about this you know when I when I was meeting with uh when I was working with Ken I believe that's where he got some of the dollar amounts from was so been nice to say okay this physical assessment issues that we have already identified we chopping these off here's our here this was already identified you know couple with the cost back then inflationary numbers obviously is higher but these are the things that we're chopping off this
051was these were already identified and we're chopping these things off I can put something together okay like I said don't invent the whe the whe is already out there just right enhance it yeah just cross reference them and kind of put them in a more organized man I'm like oh you know I'm myself I'm where we going with this it's good to chop these things off and at the end of the day I think Bill agreed he's firm on this are we going to have some money to do our PMS okay all right go ahead so um here's a breakdown of everything at the high school uh this is just spelled out in an itemized list that primarily does with uh deals with the Sports plex and a consession stand um those items will be
052addressed in the summer of 2025 some will overlap um into the fall of 2025 such as the softball field and the baseball field getting finished um obviously priority will be the multiports Plex uh Fields so we're able to start our fall Sports in uh August of 2025 and then you also see the remaining work that's going to be done in the Fieldhouse to the floor so bringing this all together financially and I think this was kind of the reason that um I was asked to put this together so we know exactly where we stand currently so I work with Mr Johnson to get these uh balances and we currently have 6,526 1866 of our 2020a working cash bonds remaining um the debt certificates 2020b have been fully expended um we currently have 618,000 well $68,900
053of oh and then we also have the September 2022 issu is uh in the amount of 9, 42,45 remaining bringing us a total remaining balance of 6,557 442 we're going to keep some of that money uh to the side for our fund balance um in the amount of 6,526 1866 giving us a remaining balance of 10,3 3,57 6 now in terms of new fun new money and Mr Bob Lewis from PMA network will be up next to speak to the alternative revenue bonds but we're looking at a total gross proceeds from issuing alternative revenue bonds in the amount of 29 milon1 165,000 um we have applied for the school maintenance project Grant um in the amount of $50,000 we're hoping to use that towards the cre Elementary roof project uh the same manner that we
054did where we applied that 50 ,000 to the corridors at creep Monon Middle School this past um summer so that is a a grant that comes up annually I plan on applying for it again and FY 26 so that makes up for the second $50,000 Grant and we also have interest income uh estimate of $700,000 giving us a total additional proceeds of $29 m965 th000 where's that interest income coming from what investments Brian if you could speak to that sorry that's just the routine Investments of our bonds that are sitting liquid so we usually do four to six month CDs at the recommendation of PMA MH and we tend to schedule that to roll off as needed when we know we have expenses coming up and those have been pretty successful and we conservatively I
055think we estimated around 1 and a half% of a return right now which we've been seeing higher returns than that and Bob will speak further about how our strategy is for these alternate revenue bonds but we don't have to worry about Arbitrage which then if we gain extra interest we might have to pay some back but we should be good with that please yes yeah so o plank is taking care that that's p i mean as far as the Investments PMA is actually investing that for us or is the money that we have the CDs are they handled from o plank PMA PMA okay okay all right so you call Bob up next um yeah I just have one or two more slides I'm sorry okay um so in summary uh and as I said
056these all sell reference through the entire presentation um just is showing the Investments with the remaining C uh contract balances um brings us to a total of $ 39,99 7,120 and then how we're going to fund that uh with the remaining proceeds from the previous bonds issued uh net of the money that's in our fund balance that total is 10, 3,576 and then with the new money that we look from issuing the alternative revenue bonds and applying for the school maintenance project grants um brings us of a a deficit of uh just over $1,500 so um everything is on track and we're doing the best to uh be good stewards of the money and funds that we've been entrusted to to enhance the district and the facilities question yes sir you said on track what's
057on track like do we have a time frame for when stuff gets started u I know some of we've already started doing um and then another question cuz it's all time in your write up or whoever wrote it up it said remodel existing softball fields near Heritage what softball fields in their Heritage it's the the field behind the varsity baseball field um it's currently be used by our Middle School uh baseball team so it's the baseball field that you're going to turn you're going to turn into the JV softball field okay so we're going to renovate that field um to bring it up to standards for our middle school and I only say I mean I'm assume you you all to get it right I just said that because it was worded wrong I knew
058what you were talking about but I just wanted to I appreciate so anyhow back to the time frame what's the time frame to get started on the project uh time frame and uh Dalton pafford can speak to that a little bit more but we are looking at December the week of December 6 I mean December 2nd I'm sorry is when we schedule a mobilization in their terms um and that's when we'll fence off the property and begin the demolition um at the high school and they're going to speak to that tonight or they're just sitting here if you have any questions for them I I glad bring them up no I mean because sometimes you all have people out and they just sit there and they don't say anything so I don't know if they
059are speaking on it are they going to present something questions yeah just for questions if you have any but if you have any you can go ahead and um so can you answer that question Village as far as per goes expecting plans Nots um be able to start December as far as substantial completion goes for the stadium to have everything done by August 1 football stadium itself doing finish touches on baseball softball the end of next year but by December your ha well this is this is a this obviously is a critical and a big project so on your side do you have a project layout showing critic iCal path showing Milestones that need to be met contingencies and all of that this is typically of a project right can you can you give us
060the big picture because you know we don't want to guess what's the next step we can go back and see it this is where we are so we can know if we want we don't want to be surprised yeah absolutely the football season is not going to start or something like that y so I've got a preliminary project schedule that I can share with you guys and then as the project progresses I'll be sending weekly updates to Jason and it'll be a living document saying hey we just finished our sight storm sewer we beat the task by two days we picked up two days on the end date hey we're behind by a day and that'll be a living document that'll provide weekly to Jason throughout the project but I've got that schedule right now
061I can provide that to you excellent will someone be archiving any of okay just like you know keep a section of bench or whatever just for archiving piece of grass okay perfect thank you we could save you a y gr well I mean I don't know that's important so we should save stuff go ahead go Jason on this slide do you have enough cushion built into to the numbers up above because it seems like what we're borrowing we were cutting it real close and to be honest with you that's a great question Nelson I was kind of following the format that um Ken laid out initially and I think he was he's gone you don't have to yeah you know but I'm just still trying to respect my predecessor in that um and actually I
062was going to let Bob speak to that a little bit regarding the sale of the alternative revenue bonds um depending upon where the payment is and we're comfortable I would like to take it uh take the amount up just a little bit to give me some um wiggle room for contingencies as I said we haven't really uh put together a design team for the Sports plex I asked Joe and Dalton to put together rough estimates um in their past experiences after a Project's been awarded and then what Chang are made once it goes into the design process so I kind of got an idea of where we may fall in in that but if we could take that up to you know roughly just under $30 million that's where I I'll leave there I think
063that would provide us with a little bit of buffer considering that um I don't know where we're going to be going with uh tariffs and and and things along those lines in terms of uh procuring services and goods you good yeah okay so that's that was about half the question that I had okay your predecessor when we did the five schools with the air conditioning and everything he did he had a detailed line on him and he had contingency numbers on every single project so and I always ask them about that when we don't use that contingency that should roll back in is why we have some extra funds left over and whatnot so I think we're moving forward but I still think we should see that that each one of those big projects should
064have like when the middle school edition and the haac there should have a contingency number on it for sure because when we get into certain things like when we were demoing the sixth grade and whatnot you're going to find things in the soil that you don't know that's there right yes there are going to be some some uh curveballs that are going to come at us but each product we should have at least a contingency number because he Ken would always do that and then at the end we would compile that money and I think some of that money went into some of the extra things we did the next year but just so we're like what Nelson is saying is that's exactly right we're cutting it close if you have contingencies built in then
065I totally feel 100% comfortable if you don't then we got to figure that that buffer out okay I can work on that and stay within the parameters of of our um you know what we're allowed to borrow based on the suggested strategy from Bob Lewis okay any other questions and you say Bob is going to talk about yeah that's uh item number two underneath business so okay all right okay thank you everyone thanks uh Jason good job Jason you you handle the pressure well M he's been he's been around he's been been around for a while thanks yeah no problem thank you for having me here tonight and excited to be part of this F Pardon Me part of this financing you've been waiting so long to get this tip money that it's it's finally
066here we've been talking about for a long time so before we start talking about the alternate revenue bonds just want to recap where your current debt picture sits so these blue bars represent your non- referendum payments that provided all those dollars for construction the green bars are the remaining referendum payments that you have outstanding you have this First Column here is levier 23 that's for taxes collected in uh calendar year 24 so we have two more years at the $12 million and then it starts to decline which is part of the plan over here we have a summary of your bond and interest tax rate for the last several years your bond interest tax rate got to as high as $2.13 coming out of the Great Recession as eav was falling and has been on
067a steady decline ever since and with the Tiff expiry we now estimate that bond interest tax rate will be below a120 you know so it's come down substantially over the last 10 years is that a120 per thousand per $100 of eav of of eav okay any questions on this slide what did you just say about that okay and as these Bonds mature here these last two columns here because I know uh president Brown will ask those are your last two years that have capital appreciation Bonds in them and then they're all gone so and this plan of Finance we doing again does not include capital appreciation bonds so those will be part of your history in just a couple more years so alternate revenue bonds some of this is an overview of some steps have
068you already done but it's a good reminder uh that we're at this point in the plan of Finance so an alternate Revenue bond is a bond that's intended to be paid from uh operating funds and you pledge to the repayment of those dollars uh to the repayment of the bonds a revenue specific Revenue source which is typically your state aid and your events spased ebf money and your onm taxes and but with an alternate Bond you also have a backup property tax levy that's put on file at the county in practice you never utilize that Levy but annually as part of your Levy process you'll be abating that Bond Levy you'll pass a resolution telling the county not to Levy that tax so the alternate revenue bonds will then be repaid from this new Tiff
069Revenue that's coming into the operating funds I think you're anticipating a little bit later in the presentation I think it's close to $5 million of additional revenue and we're using roughly half of that to repay these bonds over the next 20 years what are the proceedings to do an alternate Bond you have to do a bond hearing you've already done that you did that back in the summer you have to go through a 30-day petition process you have completed that as well you did that in the summer and then you the board approves a sale resolution which is uh something you still to do the anticipation is that the board would consider doing that next week and one other thing about alternate bonds they do not account against your the district's debt limit which is
070important unless you were to extend that property tax which again the part of the plan of finances annually you'll be abating that property tax that's uh for the backup Levy for these bonds and will not be utilizing it so what are the goals well currently the goal is 29 mil1 $65,000 in that proceeds which we can revisit that in the next a couple days with an annual payment of approximately $2 and A4 million doll that amount will fluctuate with market conditions you know because it's not locked in until you sell the bonds and the interest rate is determined so a little bit about the bond proceeds investment you know we've talked a little bit about investment earnings you may be already familiar with this with some of the bond proceeds from the bonds that were
071sold over the last few years but the US tax code generally prohibits positive Arbitrage on the investment of the bond proceeds unless you meet certain exceptions so what's positive Arbitrage again it's the investment earnings that exceed the bond rate so for example if you borrow at 4% invest at five the IRS doesn't want you to keep that extra 1% unless you meet an exception now why don't they want you to keep that 1% so when you sell your bonds you're selling them as being tax exempt what that means is the interest you pay to your investors they don't have to pay taxes on that interest so you're getting an implicit subsidy from the federal government you're borrowing about one to one and qu% less than if you didn't have that tax exempt status well coming
072with that are some strings attached to it and one of those strings is the IRS doesn't want you to earn positive Arbitrage and when I say IRS generally what I'm talking about is the tax code that Congress passed now what are the exceptions well one of those exceptions is that school districts are permitted to keep your positive Arbitrage if you sell $15 million or less than a single calendar year of tax exempt obligations so it's not by series you can't sell 15 million in June another 15 million in September it's collectively throughout the year so one of the things that we have to look at when putting together this plan of finances what other tax exempt borrowings have you done during the last 12 months you know since January 1st and you haven't done very
073many but those Capital leases you do from time to time for copers or iPads those are considered tax exempt financing you did do a I forgot what that was Brian was around $100,000 that we figured this year of a capital lease something like that so we got net that off the 30 or the $15 million um towards what you can borrow the other exceptions that are available requireed to meet spin down Milestones every six months in practice it's very difficult to hit those Milestones because you have to hit each one so if you meet the first six-month Milestone but you miss the 12mth Milestone but you make the 18th month and you make the 24 month because you missed the 12 month you don't qualify to keep the positive Arbitrage so whenever possible we try
074to use this first exception of $15 million well with your borrowing amount of being around 29 million we're kind of right there at the Sweet Spot of saying hey we could sell two $15 million financings one that closes in December 24 another one that closes next year because it's a calendar year division it's not a fiscal year in division for school it's by calendar year so by approving the resolution that you have for consideration next week we would hopefully be able to split these into two $15 million financings um over uh and qualify both of them for the smallest year exemption then you don't have to worry about earning positive Arbitrage now we do anticipate you know you're you're worried about some contingencies and stuff and keep in mind you borrow this much because of
075the interest rate environment you will be investing those dollars just like you did your other Bond proceeds and we ballpark estimate you know about 1 to 1.4 million investment earnings that you'll make depending on how quickly you spend the money and what uh short-term interest rates happen to be as you invest them so that will be additional dollars you have for the project so really if you stayed at to 21.65 you probably could roughly consider you probably have around $30 A5 million dollar available including the investment earnings so so Bob you know the government or the feds are in the process of doing a quantitated easing by trinal order interest rate to offset the inflationary period right right so if we go ahead and borrow can you the alternate alternate bonds can you sell those
076bonds to be callable and can we take advantage where we may sell some now at a certain interest rate but we haven't maximized the selling of those bonds by getting at a lower interest rate that futuristic time we can go back and get those bonds called and take advantage of a lower possible interest rate yeah they will be callable approximately 9 to 10 years after issuance okay and you know you raise a good thing about the fed you know the FED has anticipated to cut the FED funds rate additional times even this year and in the next but the markets factor that in and so as conditions change that can change that expectation and you can look at no better example of um what happened back in September when the FED first cut rates in
077the cycle and they cut 50 basis points you know they anti I know my son was trying to buy his first house and he's trying to get the mortgage rate down thinking hey interest rates are going to fall for my mortgage rate well what happened after they cut rates on September 18th as of November 1st morgage uh the treasury rates 10year treasury gone up like 56 basis points mortgage rates went up like 48 basis points immunity rates went up like 44 basis points went the exact opposite direction what the FED did so and you and with the um the unknown so what's going to happen with the change in Washington you know even though the feds expect to cut rates more the worry is additional tariffs and things like that could cause rates to come
078back up so I think it's good to try to get them locked in during this time frame but in the future you'll be able to refinance them um down the road you won't be like those cabs that you had were we're stuck for 20 years yes yeah which is a no no please yeah CS is four-letter word right yes it is I agree capital appreciation Bonds on on my Shi right okay great okay so what is the exact benefit of making both financings exempt from um Arbitrage rebate you know it's really hard to quantify because it B it's based off a lot of different assumptions you know when you sell the bonds that part of the equation is known because the rates are fixed you sell the bonds locked in the investment earnings that you'll
079earn and whether you'll earn positive Arbitrage or not it depends on the pace at which you spend the money how much of that money you leave liquid because while you sell the bonds and you go out and buy treasury Securities and CDs to about the time that you need to spend the money you're not going to invest all that money because you're going need at least some liquid for uncertainty so so that liquid rate will be variable and then when the CD matures that you thought you're going to need in 12 months well what if you're a little bit behind and you don't need it for a couple more months well now you're going to have to go invest it for two months and what will the rate be then so there's too many unknowns
080to exactly predict and tell you you're going to save this much by splitting is financing in two all we do know is right here U ultimately a split issu and strategy creates flexibility to manage potential positive Arbitrage as single financing would not provide so that's why we recommending splitting this financing and um because you're you're at that sweet spot of the year you're right there where the calendar year is going to flip over so it makes a lot of sense to do that if we were having this conversation back in April we like doesn't make sense to do it in April because you're waiting 7 months to sell the second series of bonds we interest rates go up a lot well you're right here where it kind of it's almost a no-brainer to split between
081the two years to get that benefit so here are the remaining steps you already did the petition period the hearing way back at the early part of this year um so we have for consideration for you next week the approve of that parameters resolution that would authorize the sale of both bonds and the on December 9th is when we contemplate that the delegates would approve the sales well who are the delegates the delegates are typically two administrative officials two elected officials and you just need one of each uh so um typically it's board president vice president superintendent and Jason's position I forget what your position is csbo we'll just say csbo there you go um and then you close around December 19th we could make that a little bit later you know it's a little
082short of turnaround but it's trying to get wrapped up for the holidays so we're not bothering you guys to sign closing documents um when you're you know you're looking to spend time with family and then you could sell the the 25 bonds as early as January 14th and then close on those in February 4th and you have all that 29 million plus in the bank earning interest for your projects interest that you'll be able to keep even if it's positive Arbitrage so in the appendix um not really this is just for your reference here's your principle by Series so you see all all these green boxes is callable Principle as someday you'll be able to refinance as we get to the call dates so your next earliest call day is January 26 so I've already
083talked to you your Finance team to let them know hey we're monitoring these and if there's a refunding opportunity on these bonds we'll let you know as we get to the middle to late next year because you got to wait to within 90 days of those call dates you can't just do it at any time now I got a question too sure well you know I'm a little ahead of you keep going uh and then here's those last cab payments so you have one that you're making any day now I believe this right here and then you just have one payment left on each of the 05 and 06 bonds and then those will be gone and here's your legal debt margin so you you this number is now positive we've had times your history
084where this was negative so it's now positive and your alternate bonds don't count against us by Statute okay so this will still be the same number um even after you issue the bonds and this last slide is a summary go back I'm sorry to the last uh sure as the question I want to ask so it looks like our district EAB is finally approaching close to a billion dollars right this year yes but I know houses eavs were really inflated I guess you know for reasons being and do we how do how is it impacted that these eavs go down if the E eavs were go go down and that will affect the percentage of money that we can borrow right yeah this number if it went down it would impact your ability to borrow
085there's so many there's so many exceptions now yeah from this limit like um like on a non- referendum basis you know you have this red line remember your D yeah so we really can't borrow a whole lot on a non- referend basis anyhow because we filled this box up right uhuh but if you want for example if you went to the voters for referendum yeah and for anybody on the camera we're not's what but if let's say you did and you approved $50 million m now this number is 13 million there's a new law that went to effect earlier this year that says if the voters approve a bond at referendum as long as you conduct a hearing and publish certain information in the paper that Bond would be exempt from your legal debt margin
086ah okay and in fact I have one client who passed on um the 5th and we're using that exemption for their bond issue and and it's because the school code if you ever go look at it has pages and pages of school districts that were getting exemptions from this MH because the formula is broken for districts that have uh you know low to Middle Ground middle area of eav per capita frequently they're running into this limit because this this formula was created back in the 1800s and they've never updated you know so in wow so as your property values increase your ability to borrow increases but the cost of construction has grown many times more over the last several decades it's just off it is so instead of you know adjusting the formula they just
087made this exemption got it okay they put a bar okay did you have a question no no good thanks Bob yeah you're welcome so this last slide is just a summary of hey if you sold it all at once this is what it would look like if you sold it into two parts this is what it would look like right here so it's roughly the same so the here you can see by selling two parts you're getting more investment earnings that you're keeping for the project now when we did this update here the total payback was a little bit higher for doing two than one now that's always going to be in state of flux depending on what interest rates are but the plan of Finance is all about creating flexibility so you don't have
088to cut a check to the IRS you know so any questions on this worksheet okay so that's my presentation you guys have anything to add no any other questions the only question I have is when in in a year and a half when we make those last two payments off those old bonds will that help our will that help our financial profile rating no I mean that I don't think so because that's longterm and the long it does matter what right but long longterm is long term but it doesn't matter how weight is so low okay yeah you you still yeah if you if you had no debt at all yeah let's say you had everything right in the formula you had no debt at all it' be 4.0 uhhuh if you have a lot
089of debt you're 3.7 right I mean so that's kind of where so paying those down it's going to help you move you in that direction but because you've just did these large finances do all these nice improvements you're going to do these additional bonds you're going to be at 3.7 for and they do that because they know districts are going to be borrowing yeah and they don't want to H hold them with handcuffs on you know trying to borrow money so right yeah good job Bob yeah thank you you have always been able to answer my questions thank you now I'm trying to is that clapping or hay Mana it's quiet Clapp I I tell you doing that like what the J doing tell the truth tell the truth Brian tell the truth yeah I'm
090good hey Doc good evening everyone my name is Brian Johnson Director of Finance for the school district this is the preliminary conversation for our truth and Taxation hearing which will be held on December 10th first we always start with definitions equalized assessed value is the rate that property taxes are assessed at and will County they value your property your eav is 1/3 of your property's value the example is a $150,000 home you would pay the onethird value $50,000 is what they use to calculate your taxes the tax levy is the amount of money we request from the county for our needs for the next year the tax extension is the amount of money the county clerk actually gives the school district and the tax rate is the percentage that is applied towards your eav to
091then calculate how much each property has to pay in taxes annually the requirements for a truth in taxation hearing if the tax extension increases by a maximum of 5% or CPI which was 3.4% new construction is in addition to this requir requirement if the levy is more than 5% then we have to have a truth and Taxation hearing which requires published notification in the local newspaper 7 to 14 days before the truth and Taxation hearing and that we publish everything on the district website 30 days prior to the hearing so we can't publish in the newspaper for truth and Taxation hearing until the week of Thanksgiving we're on top of that the publication has already been on our website so we did meet that requirement prior to those 30 days and then once the tax
092levy is approved it needs to be filed with the county clerk by the last Tuesday of December which is New Year's Eve this year this is just historical data of how our tax levy and tax rates have moved over the years as you can see are extend Pion has increased steadily year over-year and the rate that each taxing property is paying has gone down year over-year and we do expect that Trend to continue this is the data comparing our 2023 actual Levy numbers to our estimated 2024 Levy numbers the eav for the district did go up by about $25 million new construction again this is an estimate based off of what we received from the Will County Assessor estimating new construction at about $100 million which then puts our new Tiff revenue from the University
093Park Tiff 5 at just under $5 million annually and then our annual Bond payment stays stagnant which again as Bob explained our alternate revenue bonds won't affect this number as we move forward and Jason's is you know we talking about 100 plus, difference yeah the the eav for calculating legal debt margin you get to include all the eav in your tip districts too ah yeah that's the difference yeah got it okay okay so then moving forward this is our historic tax levy that we've had as you can see 2024 those numbers jump up significantly we always balloon our Levy but this year it's significantly higher to ensure that we are capturing all available new revenue from the Tiff that's rolling off which again we only get one shot at that and we're working on a
094lot of estimates so we're being very aggressive in what we're asking for to ensure that we don't leave any money on the table because if we do we can never get that money back and then we would lose out on compounding interest moving forward which would not be fun for anyone and then the next slide is our estimate of what we think our actual extension is going to be which again these numbers are not as large as what we're asking for again we're over asking to make sure that we don't leave any f on the table and then this is a breakdown of tax rate by fund as you can see our tax rate is going down year over-year which is consistent but it is going down more than it has in the past because
095of that Tiff so without considering Bond and interest the tax rates going down around 6% and then in total it would be going down a little over 8% for our portion of taxpayers tax obligation so so just so you're looking at this when you go back so many slides you don't have to we're you know in 2016 we're at 8.68 8.7 a.4 it's been dropping steadily since 2017 but you're saying that you think that the tax rates going to go below 7% to 6.6 correct that's good I don't know because they kind of offset one another when the rate goes down well I know the eav goes up but the T look at the rate is going down yeah lot of the eav increases the Tiff it does going off right so what's happening is
096the Tiff is throwing off the eav and the tax rate's coming down so the home owners the taxpayers will pay less because I think that the Tiff is balloning that artificially right I mean essentially because you're getting one shot at that and it's going to go down to 6.64 because at the end of the day that's is going to be predicated again on the rate and the eav which is going to determine the how much a tax payer is going to pay right right because it's about an extra 88 plus million that we're getting on their new construction if that is at all the numbers are calculated definitely let us know that what we expect the average if that's the plus that taxpayers are going to see a potential decrease in their taxes we need
097to share that yes a proportionate decrease in our portion of what they pay on their tax bill and that's the information we need them to know because we have nothing to do with setting the eav the eav we do not the access so we are asking for a lower share of what they will be paying right because what I'm getting is is if your eav in a house is 200,000 mhm it's going to be maybe let's say it's 208 right whatever 28 210,000 but it the tax rates dropping 610 of a percent because of that $88 million that's a big drop it is so that's good right yeah definitely should impact the property Brian can you go back maybe one page or two go back one more so I understand that you B the so
098we can capture all of this increase yes is there any magic in why you you you know you increase the education fund what 67% from 30 to 50 so we can move money easily out of the education fund into other funds if we need to in the future and again we once we get the draft of our extension we can reconfigure the amount of our extension to the different funds funds so we to be conservative put the Lion Share into the education fund because that's the easiest the easiest to to move to other funds as needed okay where if we committ it to funds outside of Education there's more rules on what can be moved out and when and how so it's just to keep things simple for what we need to but there's no
099restriction since you're having the truth and Taxation hearing you could make that whatever number you wanted it to be right correct I thought I thought we had to go off for referendum if we increase the tax rate in the ad fund that's not so huh I thought so go out to referendum I really yeah for for to increase the rate in the ad fund I thought that you heard that it used to be that way but now collectively all your operating rates right go for refer you can move around okay okay all right thank you so then this slide again we're working on estimates we're always very conservative in these numbers we showed a $100,000 home the actuals that took place in 2023 the tax rate ended up at 7.2431 per. and then we again
100talking with Bob and other experts in the industry's eavs we're putting at about 10% for residential homes which again might be a bit high for some might be a bit low for some so we did the calcul based on our 6.64 6% tax rate that we're calculating currently so for $100,000 home the tax increase would be about $70 and then we also included the same calculations if we removed the eav from the Tiff just to show that savings and and that's kind of what I was asking see there that's right there yeah yeah so the homeowner can see that thanks for that Tiff rolling off that's kind of the help and again last year's presentation our estimate for the 2023 tax increase was a little bit higher than it came out because again right now
101we're working on a lot of estimates so we're always as conservative as makes sense to limit people's excitement I guess for lack of a better way to put it just we don't want to say hey everyone's saving tons of money and then it comes out that people are mad at us for misrepresenting things which again this is only our portion of the tax bill so I don't want to speak to everyone's total tax bills there's different communities with different taxing bodies that are involved so again this is just we went through $100,000 $150,000 $2 $250,000 as you see as the value of a home goes up that cost savings I'll call it with the Tiff does increase by larger percentages which is nice to see so we just wanted to share this so that people
102had an idea of what things would have been like if we didn't do as the balloon and we didn't get any of that Tiff Revenue okay so then these are just the important dates we'll have on the agend genda for next week to add the public hearing date for approval to be held December 10th for truth and Taxation hearing December 17th the board would vote to approve the tax levy and then December 31st as the deadline to submit the levy to the county clerk which we would do probably December 18th After we receive board approval and all the signatures are finalized excellent all right any other questions we're good thank you thank you sir appreciate it good teamwork we got Jason coming back up you guys are earning your money tonight we got the resolution
103okay good evening again um I'm here to discuss uh the resolution authorizing the submission of an application for the property tax relief Grant um when evidence-based funding uh replaced General state aid and which was the primary way of funding schools in um the state of Illinois they also made it an annual will process to allocate roughly $50 million a year through the property tax relief Grant um there a long complicated formula uh that the state uses but it's primarily used to relieve High tax and low property wealth districts uh those Figures were released in October and I'm here to uh discuss approval possible approval for applying for the property tax relief Grant um based on the preliminary figures I do not think we'll be awarded for that because the district currently uh sits at um
104we're 80th out of 850 districts in the state of Illinois um and the total of the districts ahead of us is 165 m942 so out of that $165 million um the state only had has 50 so I'm sure that majority of the districts um above us will apply for this grant but I do think it's in our best interest to show good faith to our taxpayers that we are exploring all avenues and in the event of any of those uh 79 districts ahead of us if they do not apply for the grant then that'll help bump us up um in the process so uh believe the district did received the property tax relief Grant I believe in fy22 or 23 prior to my arrival um but I'm here in good faith to uh fill out
105the application again and uh see if the district will be awarded it very good thank you thank you thank you Jason and I believe that is it for business section under administrative updates and it take us to Old business okay um I just wanted to just revisit an open session uh where we're at with the selling of MEC um we're going to be going into Clos session this evening to talk about uh the um the number that the the board is looking for but I just wanted to uh just revisit uh the process of selling the building if anyone has any questions uh I do believe that we've got to go out and put it out for bid I think that's what we've discussed about last time so if there's any other questions or is
106everybody pretty good with that that process okay and that's a legal process to by law we have to do that correct yes the uh the school code lays out the process that requires you to if you're not going to sell it to a governmental agency to either um sell it by sealed bidding or through a public auction um and there's you know certain deadlines and notice requirements that are related to that that the district has to follow okay all right thank you any other old business new business close session we do have we do have a reason to go and close session for the reasons being for the reasons being the appointment employment compensations discipline performance or dismissal of specific employee personel Personnel that's it yeah and then the last one is for I've got
107it in addition to the setting of a price for the sell or lease of property owned by the public body based on five Illinois Capal statute 1202 in parentheses C is in Charlie and parentheses number six can I have a motion for the reason stated so moved second second can I have a roll call please Madam Secretary oh it wasn't me okay Mr alch I Mr Brown I Mr gagos I Dr Hall I Mr swales hi and I I'm a y i all we are in close session we would be in close session about a half hour we would not Tak any action theref thank you public for joining us we appreciate you taking time on of your day