 Bond interest rates are very low now and likely to rise in the near future Supports both High Schools, all students and many residents of all 7 communities  Maintains and increases property values for all 7 of our highly desirable communities  Temporary band-aids on old, beyond-repair areas are not the best use of hard-earned taxpayer dollars. HVAC replacement, for example, will be more efficient and will save taxpayer money going forward! Postal Patron  Northern Valley Regional High School District 162 Knickerbocker Road Demarest, NJ 07627 We typically get little or no state aid. These projects are already approved for 36-40% debt service aid Referendum 2015 links to information sites  www.nvnet.org Key Talking Points Referendum 2015 Interest Rate assumption: 3% for 15 years Ratable Source: County Abstract of Ratables (2014) Referendum Please VOTE on March 10, 2015 2 p.m. to 9 p.m. NONPROFIT ORG US POSTAGE PAID PARAMUS NJ PERMIT #651 ECRWSS $49.36 $57.29 $43.80 $59.96 $34.70 $45.50 $65.04 High School District 2015 Estimated Tax Impact Per Year of $13,173,147 Bond Referendum Closter Demarest Harrington Park Haworth Northvale Norwood Old Tappan Northern Valley Regional A Needed Investment For our Students… For our Schools… For our Communities… Scope of Project by School NV Demarest HS:  Tennis/Basketball Court and Track Replacement  HVAC and Emergency Generators  Renovate Classrooms into S.T.E.M. Labs  New Forensic Science Lab  Auditorium Updates and Security Camera Updates  New Self-Contained Special Education Building (Junction) NV Old Tappan HS: Frequently Asked Questions WHY DO WE NEED TO HAVE A BOND REFERENDUM? A bond referendum is the only way that a Board can borrow money to finance capital improvements over a long period of time. Otherwise, major improvements can only be done in small increments over a long period of time. Our facilities are all aging and cannot be addressed piece-meal over a long period of time. The annual cost of “band-aids” to keep these systems functioning has become a burden on the district’s operating budget.  Tennis/Basketball Court and Track Replacement  HVAC Unit Replacements WHAT IS THE IMPACT OF THE STATE’S FUNDING FOR THESE PROJECTS?  Renovate Classrooms into S.T.E.M. Labs  New Physics Lab Since the State Department of Education deemed almost all of the projects eligible for the highest level of aid, the State has committed to pay 36% of the eligible costs of the projects. This results in the taxpayers only being responsible for 64% of the costs. The State will make this contribution by debt service aid.  Auditorium Updates and Security Camera Updates  Security Lights/Cameras  Athletic Facility Upgrade  South Gym Floor Replacement WHY ARE THE PROJECTS NECESSARY? Maintaining our school buildings for current and future use is a basic responsibility of the District. Our students need a healthy, safe atmosphere for learning. The Board of Education annually budgets for ongoing maintenance; however these projects are too expensive to fund within a single year. For more FAQ’s, photos, and more detailed information please visit www.nvnet.org