RIVER VALE, N.J.—River Vale Public Schools will ask the community to vote on a $35.7 million bond proposal in an April 20 special election. If the referendum is approved, state aid would reduce the costs of major building improvements by nearly 30%.
The public can learn more about the projects that are proposed at a virtual referendum forum on April 6 at 7 p.m. Architects, financial advisers, teachers, and other panelists will share insights about the referendum and will take questions from the community. More information about the live-streamed forum and how to participate will be available at rivervaleschools.com/vote.
We last reported on this hearing and vote on March 15, noting that the improvements would tack on $148 to an average homeowner’s taxes for 25 years if all three referendum questions pass.
We also quoted a resident who alleged that the school board was not being transparent with residents and that few communications had been issued about the referendum.
The district sent a press release March 23, touting the benefits of the proposal and adding context about its outreach:
Projects that would benefit all three schools include replacing roofing that has exceeded its useful lifespan, adding air conditioning, upgrading classrooms, and creating flexible and outdoor instructional space. An addition at Holdrum Middle School would open up crowded dead-end hallways for a safer, more functional environment.
The K–8 district began the groundwork for this referendum in June 2019, when a physical needs study identified building priorities. The pandemic delayed the vote, which was originally planned for December 2020. In the interim, some needs—such as the increased filtration that air conditioning would offer—have become even more timely.
River Vale’s Board of Education has discussed the bond proposal at meetings over the past year and a half. More information is available on the website at rivervaleschools.com/vote and the district’s social media account, facebook.com/rivervaleschools.
Additionally, the members of a citizen-run Communications Committee are acting as liaisons, sharing information about the referendum throughout the community.
The April 20 ballot is structured into three questions:
- Question 1: Building improvements, including the addition of a corridor, flexible learning space and courtyards at the Middle School; roofing replacement at all three schools; and HVAC equipment and mechanical work that would support upgrades.
- Question 2: Installation of air conditioning at all three schools.
- Question 3: Wellness areas (flexible learning spaces with an outdoor component) at the elementary schools.
Question 1 must pass for either Question 2 or Question 3 to be able to pass. If Question 1 passes, Question 2 or Question 3 could pass independently of one another.
In addition to nearly 30% in state aid, there are other financial benefits to pursuing a referendum at this time.
The debt from a 2000 bond referendum was paid off in 2020, making this an ideal time to borrow to fund necessary improvements. School districts use a bond referendum much the way a homeowner uses financing for projects such as replacing aging heating and air conditioning or roofing. But a referendum comes with the advantage of state aid.
The district has a history of fiscal responsibility, and has held expenses below the 2% growth cap allowed for New Jersey schools for several years.
River Vale also has saved money in its capital reserve fund, and will use $6.7 million from that fund to supplement bond borrowing for the referendum.
The capital reserve funds act like a down payment to reduce the amount of debt, while the state aid
“coupon” slashes nearly 30% off the total cost. That, combined with historically low interest rates, means the owner of a home assessed at River Vale’s average would pay an additional $148 per year starting in 2021.
Polls will be open for the April 20 election. Districts 1 and 5 will vote at River Vale Town Hall, 406 Rivervale Road. Districts 2, 3 and 4 will vote at River Vale Community Center, 628 Rivervale Road.
Vote-By-Mail is always an option for New Jersey voters. The deadline to apply for a Vote-By-Mail ballot is April 13, though earlier submission is recommended to avoid mail delays.