OISD discusses $4 million high school renovation

OLNEY— The Olney Independent School District Board of Trustees will have a month to decide whether it plans to move forward with a tax initiative funding an estimated $4 million in renovations to the high school.

In order to make the May 2017 ballot, the board will attempt to hammer out the details of the tax measure, which essentially extends a measure previously passed for work on the elementary school and the construction of the new high school gymnasium.

“The bottom line is taxes will never go up,” OISD Superintendent Greg Roach said. “This was an option that the board has done a wonderful job of looking at the short and long-term finances. There are some options available now to complete some major projects that without the board’s savvy and leadership they would not be in that position ... The options are whether we want to do it now or we want to do it later, but it has do get done.”

Much of the funds for proposed renovation project would go towards expanding classrooms to the north side of the high school, maximizing space within the campus and improving sight lines for security. FirstSouthwest, a division of Hilltop Securities, Managing Director Nick Bulaich advised the board to seek $4.2 million in case construction costs exceed the received bid and other capital improvements the board could make at a later date.

“If the $4.2 million project bids came in less than at $3.5 million, and you had some money left over, then it’s vague on purpose so you can use it for other projects that are up to the board’s discretion,” Bulaich said.

Bulaich later added interest rates under the Barack Obama administration remain low, but may not remain that way once President-Elect Donald Trump takes office. That, combined with potential shortfalls in wind farm revenue make now an opportune time to put a tax measure before voters.

Should the measure pass, the board would have 10 years to implement it, which Roach said would go entirely to fund projects outlined in a recent facilities study.