New Trier board approves $35 million in bond sales to support renovations at both campuses

In preparation for upcoming renovation work at both of its campuses, the School Board on Nov. 18 unanimously approved two resolutions for the issuing of bonds.

The $25 million alternate revenue bonds and $10 million health life safety bonds will help fund the projects, including the renovation of the North and Tower buildings at the Winnetka campus.

In his memo to the board, Associate Superintendent Dr. Chris Johnson said the alternate revenue bonds will be the primary funding source for the Winnetka campus work. They will have a 20-year duration with an annual fixed debt service of $1.8 million, which he said will be paid from the district’s operating budget and existing revenue sources every year.

The health life safety bonds, according to Johnson, will primarily fund plumbing projects at both campuses, in addition to any eligible work during the North and Tower building project.

The proposed work includes renovating classrooms that are more than 60 years old, updating science labs, and relocating campus administration and student services offices to the first floor.

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