Canajoharie Central School District officials are inviting members of the community to a public meeting to learn more about a $5 million capital project, as well as a capital reserve fund, that the district is proposing. The meeting will be held on Nov. 15 at 7 p.m. at the high school.
A public vote on the proposals is scheduled for Dec. 5 from 12-9 p.m. at the high school.
If approved, the $4,986,750 project would allow for renovations at all district buildings. Work would include security, heating/cooling, lighting, and other infrastructure updates. This would be the first phase of a multi-phase district facilities improvement effort.
The second proposal is to create a new capital reserve fund for the district, which would help offset the local cost of the project. The new fund would begin with just over $50,000 and the Board of Education plans to add an additional $750,000 from existing fund balance.
If voters approve the capital project on Dec. 5, state and district funds would pay for roughly 83 percent of the work, leaving about $923,000 to be paid with local funds. If the new capital reserve fund is approved, the estimated annual cost for a homeowner in the district would be $2.25 per $100,000 of assessed property value financed over 15 years. If the capital reserve fund is not approved, the cost is estimated to be approximately $21.36 per $100,000.
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