The Ithaca City School District is committed to providing safe, welcoming, and innovative facilities for students, families, and the community. On May 21, 2019, ICSD voters will have the opportunity to authorize a $120 million, tax-neutral capital improvement bond that will support the 2019 Capital Project, a large-scale, long-term facilities plan designed to enhance safety and security, upgrade teaching and learning spaces, and improve infrastructure across the District. The project will consist of improvements at all schools and will be completed over the course of 10 to 12 years.
The ICSD will pay for the 2019 Capital Project using a combination of state building aid and tax retirement - as the District pays off old debt, it will take on new debt to fund the improvements. This system of debt retirement will stabilize the debt service line in the ICSD's annual budget and, as a result, the 2019 Capital Project will have zero impact on local property taxes.
Updates Presented to the Board of Education
December 11, 2018 Presentation to the Board of Education