Financial Considerations
An enhanced, modern, safe, and accessible experience for students and audiences.
The expected annual cost of the bond for the average assessed property:
Scarsdale - $27.56 per year Mamaroneck Strip - $24.91 per year
Bond Funding- Borrowing Scenario (not to exceed $4.75 million)
Bond Summary
If the bond resolution passes, these are the assumptions the bond is being calculated on. Between building aid (approximately $1 million) and transfer of existing debt service reserves (approximately $3.5 million), the total estimated tax payer impact for the ten year bond is $1,326, 743.
The average assessed property in Scarsdale would be responsible for an estimated $27.56/year, and those in the Mamaroneck Strip would be responsible for $24.91/year.
Itemized Scope of Work and Preliminary Project Cost Estimates
Scrsdle - HS Auditorium-4.pdfAdditional Background Information & Recent Comparisons
Renovations and improvements to the auditorium were initially included as part of the 2014 bond approved by voters. However, due to underestimated total costs on all proposed projects, the auditorium work was deferred as it was stand alone work that didn’t impact other parts of the High School work that included the Design Lab, Learning Commons and Cafeteria areas.
A separate 2018 bond is now substantially complete. Due to the completion of most of these projects at or under projections, the overall amount borrowed was $1 million less than anticipated. Those savings are realized in diminished burden on taxpayers, and lower debt service costs to the District. Smaller improvements to the auditorium as part of the annual budgeting process have also come in under budget. Combined, this enables approximately $2.8 in unspent 2018 bond funds, $574,389 in budgeted funds and $135,000 in debt service reserve savings to be applied to the current renovation proposal, with no added impact on taxpayers.
As a point of comparison, below are other financial investments in Scarsdale High School facilities projects since 2000 (not escalated to today’s dollars):
Facility Project Year Amount
Dean Field 2021 $1,782,000
Butler Field 2018 $2,049,000
HS Gym Addition 2000 $8,300,000