5 Questions About The School Referendum

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DePaul Theater School5. Why don’t we just build new schools?

It would be very expensive but the question is not as brash as it sounds.

According to Reed Construction Data it would cost $20.6 million to build a two-story high school with roughly the same square footage as VHS (trivia detail: VHS was supposed to have been a two-story building but Verona cheaped it out 60 years ago). It would be $17 million for a new middle school and $7.4 million for each new elementary school. That’s labor and materials only, not land or demolition. And smart planners would want to provide for future maintenance, too.

A lot of money. But the interest rate for a borrower as creditworthy as Verona could approach 3.50% on a 20-year bond now. Rates were almost 4.25% in 2005. So an argument could be made that it makes more sense to borrow more now while the borrowing is cheaper.

Verona is hardly the only town in New Jersey–or the country–with school construction and repair issues. Mindful of the cost to taxpayers, some districts are building new schools through what is called a public-private partnership. A private group builds and maintains the school and  the district rents it. Given that many corporations now rent, rather than own, their facilities, maybe this should be a question too.

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Virginia Citrano
Virginia Citranohttps://myveronanj.com
Virginia Citrano grew up in Verona. She moved away to write and edit for The Wall Street Journal’s European edition, Institutional Investor, Crain’s New York Business and Forbes.com. Since returning to Verona, she has volunteered for school, civic and religious groups, served nine years on the Verona Environmental Commission and is now part of Sustainable Verona. She co-founded MyVeronaNJ in 2009. You can reach Virginia at [email protected].

6 COMMENTS

  1. Why should our tax dollars go to pay for unfunded but mandated testing? The PARCC is just a corporate money grab. It is obscene that parents have to fund unnecessary testing that takes precious time away from actual learning. Is there a specific amount of money dedicated to the implementation of PARCC, and if so, what is this amount? Parents need to be aware of the impact of data mining associated with the PARCC. Is there any way we can start a group opt out movement? Testing will show what we already know about our superior students and terrific teachers. Think of what we could do with the money that is going to be wasted on corporate testing.

  2. Besides the obvious school properties what else does the Board of Education own in Verona??? I can’t seem to find that answer anywhere.I think its worth knowing when considering any plans to go forward.

  3. At the last BOE meeting in October, the dollar amount was announced as $17 million by John Quattrocchi for the referendum. Makes me wonder how much will it really be up to by the time we have the final plan.

  4. For the amount of money spent on the last referendum and the current proposal, a new school could have built. Consolidating 2 or more schools, making in “green” to cut costs in heating, cooling and upkeep.

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