With debt payments underwriting the $79.2-million improvement and expansion bond that East Hampton School District voters approved in 2006 about to come off the books, a rare opportunity to consider bonding — without any tax consequence — for the district’s future academic, athletic, and building maintenance needs in the $64 million range has presented itself, Adam Fine, the district’s superintendent, said this week, given that debt payments are exempt when it comes to 2-percent tax cap reckonings.
“This is one of those rare opportunities when you don’t have to ask taxpayers for money to do the things that improve students’ lives,” he said in stressing that the moment be seized. “I’m very excited for the community . . . nothing is off the table as far as ideas go. We want the community to tell the school board what it wants.”
Sam Schneider, the assistant superintendent for business, in addressing the matter via email, said, “In the next few years, the district debt from 20 years ago will be retired. If this debt isn’t replaced with new bonds, taxes will temporarily dip, though for all but the largest properties this dip will be almost imperceptible.”
“But, as any homeowner knows, the need to maintain a building never abates. Thus we will be forced to issue new debt, which will cause taxes to increase. This cycle of decreases and increases will bring havoc to our tax levy and will create instability with our taxpayers. By replacing our retiring debt with new construction, we will be able to bring capital projects to the district with no change to our levy in either direction.”
Fine is to get the ball rolling at the board’s Aug. 19 meeting, during which, he said, he will “discuss and create a timeline of meetings for community discussion and the next steps. I anticipate that the first community public discussions — at least three or four, possibly more — will take place in late September or early October. . . . The goal will be to finalize all the projects by late December or early January, and to put the plan up for a district vote next May.”
“We’ll have this money to spend, but we want to spend it responsibly,” he added. “We’re not talking about underground parking or of adding a second level to the high school. I’ve got a list of probably 30 things that people have talked to me about over the years, and rather than just say ‘no’ to them, I’ve written down everything they’ve proposed, whether it might have been suggestions to add turf fields, lights, a pool, expand our science lab space, redo the auditorium, add courses in cosmetology and plumbing, replace windows, roofs. . . .”
“As I said, nothing’s off the table. There are a lot of ideas out there — the board and I will ultimately have to prioritize. We’ll be looking at what’s good for the kids and the staff. Those are the important things. At what we’ll need in the future to turn out successful and well-rounded students. . . . I live in Brookhaven, where the taxes are insane. You can’t do anything there because there’s no debt coming off. In our case, we have this very special opportunity to do something with zero budget effect.”