Estimated Cost: The project is estimated to cost approximately $12,331,000. The estimate will continue to be refined throughout the planning and design process which is still ongoing.

Funding Source: Minnesota school boards have the authority to utilize a lease levy on property owners in the school district without an election. This option has existed for many years. It provides a way for school districts to obtain instructional spaces for expediency or temporary needs.

Property Tax Impact: Monitoring of local property taxes shows the district could build a new facility without increasing the amount of property taxes collected by the district next year. Property taxes presently levied by the district are projected to decrease next year even with the first year costs of the new facility included.

Investment: One advantage of building a new facility for taxpayers is being able to invest in an asset that will be owned by taxpayers at the end of the loan. The district is already paying hundreds of thousands of dollars annually to rent space for buildings it does not own.

Resources presently being spent on renting space would be reinvested into the proposed new facility. In the last eight years, the district has paid $1,322,500 to Rum River Special Education Cooperative in lease costs.