Building Future: Referendum Progress

Building Future, Cutting Ribbons

View School Referendum Progress

Henking Logo on White Background Thumbnail

Henking

Springman Logo on White Background

Springman

Lyon Logo on White Background

Lyon

Westbrook Logo on White Background

Westbrook

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The storm trap system at Henking will increase the Village of Glenview's overall capacity of stormwater.
In construction, D34 will replace 21 trees with 223 new trees.
Competitive bids reduced the maturity of the 2021 referendum bonds by one year.
The interest cost is $10M less than originally estimated.

School Construction Schedule

Ground Breaking

On May 17, 2021, the D34 Board of Education, Village Representatives, administrators and students broke ground at Lyon, Westbrook and Henking elementary schools and Springman Middle School. 

Westbrook Ground Breaking
Lyon Ground Breaking
Lyon Ground Breaking
Westbrook Ground Breaking 2
Henking Ground Breaking
Henking Students Breaking Ground
Springman gold shovel awarded to principal
Breaking Ground at Henking - Board
Gold Shovel gifted to Lyon principals

An Overview

On March 17, 2020, the community approved a referendum for $119 million to allow District 34 to repair, replace and update our buildings. The impact of the referendum will positively impact the community for decades to come, and it will be felt at every school, in every classroom, by every District 34 student. We recognize that we are tasked with Building Future.

Timeline

Financial Update

On Monday, March 29, the Board of Education approved just under $53M in bids for the Phase 1 construction of the capital improvements approved by voters in last year's referendum. That amount is $4.5M less than expected. 

D34 Special Board of Education Meeting: Construction Bid Approval

On December 15, 2020, District 34 received 11 bids and secured a deal with R.W. Baird & Co. with a cost of 0.943% (including interest rates, underwriter's discount and all costs of issuance). This rate is much lower than the 1.96% estimate presented to the Board of Education on October 27, 2020 and represents a significant savings and benefits for taxpayers:

  • The extremely competitive bid reduced the final maturity of the Series 2021 bonds by one year and also reduced the final maturity of the total $119M referendum plan by one year. 
  • The shorter overall amortization resulted in total debt service with $10M less interest cost over the life of the bonds than shown at the October 27, 2020 presentation to the Board of Education.

The low rate received is due to District 34's Aaa rating from Moody’s Financial Services, the highest possible rating. 

Bond Pricing Report

Construction Updates

At the November 16 Board of Education Meeting, Dave Torres from construction manager Nicholas & Associates gave an update of the design stages, a budget update and an overview of the timeline and scope of construction. The District will go out to bid in February 2021, with Board approval in March and construction starting in April 2021 on the additions at Henking, Lyon, Westbrook and Springman.

Construction expenditures for 2021 are expected to be just under $53M. Citizens Finance Advisory Committee (CFAC) on the debt structure for the referendum.
CFAC recommendations include:

  • Issue more debt sooner to take advantage of lower interest rates
  • Accelerate the debt payment schedule to save taxpayer dollars
  • Delay the use of fund balance

Taking these steps will reduce the tax burden on the community.

Elizabeth Hennessy, Managing Director, Raymond James & Associates, gave a referendum financing update based on the CFAC recommendation. The recommendation of an accelerated option could mean that taxpayers would pay approximately $22M less than the original amount outlined in the referendum.

Rendering Photo Gallery

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Summary of Planned School Improvements

Summer 2020 Pre-Construction Community Meetings

D34 provided the community an opportunity to hear from architects, engineers and construction management about site plans, grading and drainage, materials, elevations, and other zoning issues that relate to construction at Henking Elementary School, Lyon Elementary School, Westbrook Elementary School and Springman Middle School. You can view recordings of the virtual meetings, and presentations that include renderings of the schools. 

June 25, 2020 Community Meeting: Henking, Lyon, Westbrook Construction Updates

August 11, 2020 Community Meeting: Springman Construction Update

Summer Construction Updates

Past Approvals

Village of Glenview Approval Process

On September 22, 2020 the Village of Glenview Plan Commission gave approval for construction projects at Henking, Lyon and Springman; the Westbrook construction project will be considered at the October 13, 2020 Plan Commission meeting. On September 23, the Appearance Commission gave preliminary approval for all projects.