River Ridge facilities referendum fails by 1 vote

By Ted Pennekamp

The River Ridge outdoor facilities referendum failed by a vote of 331 no to 330 yes Tuesday. The results as of presstime are unofficial.

River Ridge School District officials have said that they will go to a referendum again with minor changes to the referendum question. The next available time another referendum can be held will be the spring election in April 7.

“We still need to canvass to ensure the accuracy, then the board will come together and discuss the next steps,” said River Ridge District Administrator Clay Koenig.

The referendum question was whether general obligation bonds in an amount not to exceed $2.3 million should be issued for the public purpose of paying the cost of constructing and equipping an outdoor educational facility, including athletic fields and site improvements; and refinancing state trust fund loans of $1.7 million issued to provide interim financing for the project.

 If the referendum had passed, it was projected that the $2.3 million would be paid off in 19 years. It was not known what the interest rate would be, but using a relatively “conservative” estimate of an interest rate of 3.75 percent, the $2.3 million paid off over 19 years will have an average annual tax impact of 49 cents per $1,000 of equalized value. This would be the equivalent of a yearly average of $49 for the owner of a home valued at $100,000. The actual interest rate could have  been lower or higher than 3.75 percent.

With an interest rate of 3.75 percent, the $2.3 million loan would have amounted to $3.258 million when paid off.

If the referendum had passed, the project would have been be aided 30 percent by the state over 19 years, saving the school district and the taxpayers an estimated $650,000-$750,000.

The cost of the athletic fields project (fields and equipment) so far comes to $2.197 million. The project is not yet fully completed and minimal costs will still be required to finish the project.

Already completed are the athletic fields and track, some fencing, the press box and concession stand, lighting and seating. Items still needed include fixing the retention pond, addressing parking needs and the access road for parking, equipment for maintaining the facility, additional fencing and dugouts for softball and baseball.

The district said that if they wait on finishing the facility, it could cost between $125,000 and $150,000 more per year.

Individual village and township results from the referendum were:

•Beetown  - 4 yes, 17 no

•T of Bloomington - 20Y, 56N

•Glen Haven - 19Y, 20N

•Little Grant - 13Y, 22N

•Millville - 19Y, 7N

•T of Mt. Hope - 20Y, 10N

•T of Patch Grove - 51Y, 27N

•Woodman - 0Y, 2N

•Wyalusing - 47Y, 27N

•Bagley - 26Y, 24N

•Bloomington - 61Y, 106N

•V of Mt. Hope - 24Y, 7N

•V of P. Grove - 26Y, 6N

TOTAL

330 Yes, 331 No