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Information on proposed new Lake Elementary Building and bond issue

On Tuesday, July 13th the Lake Local Schools Board of Education approved the final step to place a Bond Issue for a new elementary school building on the ballot for the November 2, 2021 election. Some facts about this bond issue are:

  • This $36,000,000 bond issue will appear on the ballot on November 2, 2021. The ballot millage estimate is a statutory calculation and it will be 6.00 mills.

  • 2000 Election debt was issued for the middle school and will be paid off in December of 2024.  3.30 mills are currently being collected to pay that debt.

  • The District is able to structure the repayment of the proposed new bond issue around existing debt so taxes are expected to increase 2.70 mills, from 3.30 mills (currently) to 6.00 mills after voter approval.

  • If approved, this would be a tax increase of approximately $94.50 per year for a $100,000 market value home

The images and other information shared below from the Collaborative, the architect of the project, are preliminary at this point and are subject to change.  The proposed new elementary building would contain grades PK-6, allowing the middle school to have grades 7-8 and the high school to have grade 9-12 in their respective buildings.

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