Ocean City’s Board of Education is asking voters to approve a bond referendum March 11 for almost $6.7 million in renovations to the Primary School.
The district is eligible for a state grant to cover almost $2.4 million of the cost and has saved more than $1.7 million in its capital reserve account.
The rest, almost $2.5 million would be borrowed for a 10-year period.
Information provided by the district said the project will include replacing the roof, an emergency generator, hot water heater, boilers, lighting, ceilings, exterior and classroom doors, and the fire alarm system.
The heating and ventilation system would be upgraded, new windows installed, and air conditioning would be installed in the entire building. Asbestos caulking in windows and exterior building-mounted lighting would be removed.
About $650,000 in work was not eligible for state aid and would be paid entirely through the district capital reserve fund. That work includes corridor doors security hardware and locks, classroom and corridor lighting, and ceiling tiles and grid.
The Primary School was built in 1965. A wing was added in 1989.
The state grant has been approved. The district has 18 months to secure the additional funding.
School officials said with interest rates low, now is a good time to issue bonds, and the district’s capital reserve fund helps lower the cost.
If approved, the bond would increase local property taxes about $15.39 per year over 10 years on a home assessed at the average $500,000.
The bulk of the work would be done during summer 2015.
The district will hold a public information meeting on the bond at 5:30 p.m. Wednesday at the high school community room. Voting will be 3 to 9 p.m. March 11 at residents’ regular polling places.
Contact Diane D’Amico: