1. What is the May 2025 bond issue?
The May 2025 bond issue is a 4.74-mill bond that will generate $40 million to fund critical infrastructure upgrades primarily at Smith and Harman Elementary Schools. (85% of funding will go to Harman and Smith.) This funding is part of Phase Two of the Master Facilities Plan, which was created in 2017-18. Phase One of the Master Facilities Plan focused on improvements at Oakwood Junior and Senior High School and was passed in 2019.
2. Why is this bond issue necessary?
Smith Elementary is 96 years old, and Harman Elementary is 116 years old. Both buildings require major updates to remain safe, functional and energy-efficient. This bond will address:
- Aging infrastructure, including HVAC, electrical and plumbing systems.
- Safety concerns, such as fire suppression and accessibility upgrades.
- Technology improvements, ensuring classrooms support modern learning.
3. How much will this bond issue cost homeowners?
If approved, the bond will cost $165.90 per year per $100,000 of appraised home value and be in place for 33 years.
4. What projects will be funded by the bond issue?
The bond will primarily fund mechanical, electrical and plumbing upgrades at Harman and Smith Schools, including:
New heating and air conditioning systems to replace inefficient window units.
Fire suppression systems for improved safety.
Updated electrical systems to support modern technology.
Masonry, roofing and structural repairs to maintain school buildings.
Accessibility improvements, including stair lift replacements.
5. Didn’t we just vote on a school levy in 2023?
Yes, but that was not a bond issue. This seems like a difference in name only, but different types of levies are required to direct funds towards different needs. The levy we passed in 2023 was an operating and permanent improvement levy, and its funds are being used to pay ongoing operating expenses such as staff compensation and permanent improvements, such as security, maintenance and new technology – all of which are also essential components of a successful district.
To fund major building renovations and improvements, we need a bond issue. The May 2025 bond issue will pay for Phase Two of our long-term Master Facilities Plan.
6. What happens if the bond issue doesn’t pass?
Without this funding, Oakwood Schools will have limited ability to repair and modernize our aging school buildings. Essential upgrades to heating, air conditioning, electrical systems and safety features may be delayed or scaled back, leading to challenges for our students, teachers and staff in the present and which could lead to higher costs down the road.
7. What work was already completed in Phase 1?
Voters approved Phase 1 in 2019, which focused on improving the mechanical, electrical and plumbing systems at Oakwood Junior and Senior High Schools. The May 2025 bond issue will now allow the district to complete Phase 2, which will focus on similar upgrades at Smith and Harman Schools.
8. How do Oakwood Schools compare to other districts financially?
Oakwood Schools is among Ohio’s top-performing districts and ranks 30th out of 362 similar-sized districts in directing funds for classroom instruction. More than 71% of every operating dollar goes directly to student learning.
9. Will this bond issue raise taxes in the future?
No. This bond issue funds a specific set of projects. The term of the bond is 33 years.