Why is the cost higher than what we voted on in 2017?

You may recall that the 2017 ballot issue was for a total project cost of just over $48.3MM.

Three factors have added to the increase in the cost of the project and thus the cost to taxpayers:

First is the impact of inflation. The failure of the levy in November has delayed the construction of the project for at least a year. At the same time, the cost of labor and materials continued to increase, and so, the estimated project cost is now higher.

The second factor is the interest component of the bond issue. Since the bond issue failed in November, interest rates have increased by nearly 1.00%. That’s a significant increase when borrowing millions of dollars. Unfortunately, with continued rate increases by the Federal Reserve Bank, this is a cost that will likely to continue to go higher the longer it takes to finance the project.

Both of these factors are likely to continue increasing costs over the next several years while the economy is strong.

The third factor is that the State of Ohio Department of Education has adopted a requirement to create a storm shelter by reinforcing a portion of the building. This increases costs for that specific area of the building.

Detailed Question

Why is the cost higher than what we voted on in 2017?

How much will the total project cost?

The project cost estimate for the new Pre-K through 12 school is $43.2MM (million) dollars. The OFCC (Ohio Facilities Construction Commission) provided the District with a Master Plan evaluation, guided by metrics developed over many years of schools construction.

Additionally, there are $6.8MM in Locally Funded Initiatives (LFI's) budgeted in the project.

The complete project cost is $50.0MM. Because we are following the OFCC construction and master plan guidelines,
the State of Ohio will cover 42% of the school project costs, or $18.1MM of the total $43.2MM school building costs. LFI's are 100% the responsibility of the district to cover. Rootstown School District tax payers (residents and businesses) are responsible for funding the remaining $31.9MM of the project costs.

Detailed Question

How much will the total project cost?

Who is responsible for the information on this website and who keeps it up to date?

This site is maintained and funded solely by the Rootstown Citizens Levy Committee, Doug Darrah Treasurer. Content comes from a variety of sources...public info, RLSD Administration, Hasenstab Architects and Rockmill Financial. All info is vetted by the committee. 

Please direct any questions about website content to Aaron Kurchev, Committee Chair. aaron.kurchev@gmail.com.

Detailed Question

Who is responsible for the information on this website and who keeps it up to date?