New Trier High School is moving forward with plans to issue $15 million in bonds to pay for infrastructure upgrades at its Winnetka and Northfield campuses.
The School Board’s approval of two health and life safety amendments after a Monday public hearing sets the stage for New Trier to conduct a bond sale in the next few months. Board members closed the public hearing without comment after no residents rose to speak.
The bonds are expected to cover the cost to replace aging electrical infrastructure and intercom systems at both of New Trier’s campuses, as well as heating, ventilation, and air conditioning upgrades, and new exterior cameras at its Northfield campus and security upgrades at the Winnetka campus.
Current estimates place the cost of those upgrades at around $16.5 million, per board documents.
“We thought those issues could cost around $16 million, but decided to cap it at $15 million, because we thought that was the appropriate amount of bonds to sell,” deputy superintendent Chris Johnson said following the board meeting.
The electrical and intercom upgrades are the latest in a series of infrastructure improvements the district has financed with bonds in recent years.
New Trier has authorized nearly $45 million in bond sales to pay for renovations to its North and Tower buildings on the Winnetka campus. That includes nearly $15 million in bonds that went on sale Tuesday after the board approved a bond issue back in May.
The health and life safety amendments approved Monday – which outline the latest planned infrastructure improvements – now go to the Illinois State Board of Education.
Once the ISBE signs off on the amendment, school board members can formally authorize the sale of health and life safety bonds.
Board members will likely vote to approve the bond sale at its meeting in November, Johnson said, with the bond sale set to follow in December or January.
Board members on Monday also approved a preliminary tax levy increase of 2.9% for current taxpayers, the maximum amount allowed this year under state law.
Johnson said the bond sale planned for December or January would have a marginal impact on residents’ tax bills, estimating it would come out to an additional $50 on a $15,000 bill.
Joshua Irvine is a freelance reporter for Pioneer Press.
