Dist. 57 Puts $85 Million Referendum On Ballot
Mount Prospect voters Nov. 5 will be asked to support an $85 million tax hike referendum in Mount Prospect Elementary School Dist. 57 to help fund full-day kindergarten and a new Lincoln Middle School.
Despite no discussion, Dist. 57 board members last Thursday (Aug. 15) unanimously approved placing the question on the ballot.
When voters go to the polls, the question they will see will see will read, “Shall the Board of Education of Mount Prospect School District Number 57, Cook County, Illinois, build and equip a new middle school building, build and equip additions to and alter, repair and equip existing buildings and facilities, including constructing space for full-day kindergarten, STEM (science, technology, engineering and math) labs and music and art programs, eliminating mobile classrooms, improving classrooms and student support spaces, constructing school safety and security improvements and installing updated fire protection systems, improving mechanical systems, roofs, bathrooms and elevators, increasing gymnasium space and improving food service and multipurpose spaces, improve school sites, and issue bonds of said School District to the amount of $85,000,000 for the purpose of paying the costs thereof?”
A homeowner with a home market value of $375,000 could expect to pay $714 more per year to fund those projects, if the referendum is approved. With an estimated 4.71% interest rate, the district would pay just under $150 million by the time the referendum would be paid off.
https://www.journal-topics.com/articles/dist-57-puts-85-million-referendum-on-ballot/