Greater Jasper School Board discusses $41.6 million expansion and renovation plans
Proposed projects include new classrooms, cafeteria expansion, and facility upgrades across multiple schools
The Greater Jasper Consolidated School Corporation is moving forward with plans for a $41.6 million bond issue to fund expansions and renovations at several schools.
At a preliminary determination hearing Monday night, school officials and the corporation’s construction and financial advisors presented details of the proposed projects, which include new classrooms, cafeteria expansions, and facility upgrades.
Superintendent Dr. Tracy Lorey explained the district’s approach to facilities planning during the public hearing. “We’ve strategically aligned our long-range vision for student learning needs with our ability to adequately fund projects in a manner that is fiscally prudent and respectful of our community stakeholders and taxpayers,” she said.
The most significant component of the plan is a $15.6 million addition to Jasper High School, which would add approximately 10 new classrooms to the north side of the building. Some of these rooms will be dedicated to the district’s employee childcare program.
“Currently we are out of space at Jasper High School,” Lorey noted. “This would allow us to have a little more wiggle room with the potential of possible addition of other classrooms or programs.”
Other major elements include a $5.8 million cafeteria expansion and administration renovation at the high school and $4.4 million in interior renovations at both the high and middle schools.
At Jasper Elementary School, plans call for adding two pre-K classrooms for $2.3 million. “We know that there’s still a really strong community need for additional early learning opportunities for kids,” Lorey said.
Scott Stenftenagel of the Stenftenagel Group detailed the scope of work at each facility. In addition to the added space, the corporation plans to replace aging HVAC equipment, upgrade finishes like flooring and ceilings, and improve classroom technology.
Stenftenagel noted that though it’s referred to as the new middle school, the building was constructed 22 years ago.
Additionally, certain portions of Jasper High School were constructed in 1976 and still reflect those designs and construction materials. Lorey noted after the meeting that you can hear other classrooms through the walls.
These projects will be completed over several years, with the completion by 2029.
Luke Bruggeman of Stifel, the district’s bond underwriter, presented the financial details of the proposed bond issue. The package includes $40 million for hard (construction, materials) and soft costs (furniture and equipment) and additional amounts for capitalized interest and issuance costs.
Bruggeman emphasized that the figures presented are maximum amounts. “Once we set the maximums, we can always go less than those numbers, but can never go above those numbers,” he explained.
The bond structure aims to maintain the district’s total tax rate around $1.10, which has been the target in recent years. Bruggeman noted that assessed value growth has recently caused the rate to dip below that level, but the new bonds would bring it back in line with historical norms.
“We’re assuming assessed value growth of 1 percent through 2029,” Bruggeman said. “You’ve averaged 6.5 percent over the last five years. So between the 5 percent interest rate and where that assessed value is of what we’re assuming, we hope that we’re conservative going forward.”
He also pointed out that the corporation’s debt will be eliminated in 2025, 2030 and 2033 as the construction bonds from previous work are paid off.
According to his projections, as these additional debts are repaid, the school corporation tax rate will level out at about $1.00 per $100 of assessed valuation by 2033.
The board of trustees did not take formal action at the hearing. A second public hearing is scheduled for Dec. 23 at 1 p.m. in the Jasper High School Community Room, where the school board may vote to adopt a resolution setting maximum parameters for the bond issue.
If approved, construction could begin at the Jasper Elementary School as early as June 2025, with a proposed completion date of August 2026. The classroom addition at the high school could start in August of 2026 and be completed by December of 2027. The renovation work, HVAC updates and other updates at the high school and middle school would be phased over several years to minimize disruption to classes with a proposed August 2029 completion.
Kristin McClellan of Ice Miller LLP outlined the next steps in the process, which include additional public notices and board approvals in early 2025 before bonds can be issued.
“On the 23rd, if you’re ready, you will be asked to adopt a resolution that will actually set forth those maximums,” she told the board. “After that hearing, we will publish a notice, and we’ll wait 30 days to see if we can proceed. If we proceed after the 30 days, then we will come back to the board again in February.”
School board president Greg Eckerle concluded the hearing by thanking participants and emphasizing the board’s commitment to fiscal responsibility. “We will continue to work with the administration and the professionals to look for efficiencies to conserve tax dollars while meeting our educational needs,” he said.
