Arlington Heights Elementary District 25 plans to borrow $8.15 million next year to help fund a building addition at Greenbrier Elementary and various districtwide life safety upgrades.
The sale of working cash bonds, approved last week by the school board, is part of the $40 million of bonds for district capital projects that officials began discussing last year. But they had the capacity to sell only $31.85 million in February 2017.
In total, the district has sold $58 million in bonds since 2015 that has funded 30 new classrooms, built 24,000 square feet of gym space, expanded the commons in buildings, added new band/music rooms and new office/meeting spaces across five schools: Ivy Hill, Olive-Mary Stitt, Windsor and Greenbrier elementary schools and Thomas Middle School.
The owner of a $300,000 home will pay an extra $187 a year through 2032 for all the bonds for the upgrades, officials say.