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Issue 6 and the Grandview Yard

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hello I'm Eric Bode a member of the Grandview Heights School Board of Education Grandview yard is a complicated issue understandable that people will have questions about how our school district will be financially impacted by this opportunity to renegotiate the Grandview yard School compensation agreement through years of increasing collaboration leaders of Grandview Heights schools and the City of Grandview Heights approach Nationwide Realty investment NRI to explore an opportunity to reduce taxes on the wall overdue school facilities project when an agreement is reached and the November 06 issue is approved by voters then school district will collect a reduced millage rate that covers only what is necessary to make an issue 6 bond issue this is great news as it could reduce the property owner share by almost a half this way students get the updated safe secure and ADA Compliant learning and buy once they deserve and the taxpayers get an even better price white or are they on their investment in the quality of the school district and our community let me share the background and more details with you February 2018 the board of education has been involved in Cooperative conversations with the city of Grandview Heights and Nationwide Realty investors and r i to discuss ways in which the district could increase the amount annual funding it receives from the Grandview yard tax increment financing District as a public-private partnership we are grateful to have a positive relationship with our Municipal leaders and private Partners who understand a text skulls and excellent excellent communities go hand nap when we reached an agreement on the terms of the revised School conversation agreement the district will receive increased annual payments from the Grandview yard however the steel alone is not enough to meet the significant needs of our agent school facilities Grandview Heights schools are on average nine years old and in desperate need of repairs and updates and we have currently way to find them in addition the additional revenue from a revised agreement would not be available in one lump sum but rather it would be spread over approximately 22 years as a result the district would still need tissue the full 55.25 million and bond debt to finance the facilities Ohio law does not allow the ballot Village to be reduced for this source of offsetting Revenue clear the negotiation will not result in any lump sum payout that would allow the district to have funds available to reduce the ballot millage asked but there will be an additional stream of Revenue that the district will use on an annual basis to reduce costs the property owners in addition delaying the project would result in added cost for our residents and Property Owners each year the district postpones Capital Improvements the cost to replace repair are Asian schools increases by more than 2.5 million dollars due to inflationary increases in construction costs and inflation rates are on the rise to again delaying the project will cost Millions more for taxpayers the November 6th ballot issue is still necessary regardless of the outcome of these negotiations in order to bring our schools up to modern-day standards and preserve excellence in our classrooms the Grandview High School Board of Education has unanimously approved a resolution that directs additional funds that will the district or receive from the revised agreement to reduce the debt payments related to the bond portion of and other words we pledged to use the additional Grandview yard funds to directly reduce what is collected from residence by up to 1/2 in addition Grandview Heights schools Predator frequently asked questions document that provides more details specifically related to the Grandview yard development please visit our website at www.ghc.org for more information

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Issue 6 and the Grandview Yard

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