Project Cost
The total cost, factoring in inflation, of the Addon/ Renovation project is $111.6 Million Dollars.
The good news is that the project team has been working closely with MSBA, and they have offered a grant which will cover 42% of the project. MSBA will cover $46.8 Million, and the towns will be responsible for $64.8 Million.
For $64.8 Million dollars, we are able to radically improve the education provided at DPHS and present students, faculty and the community with a state of the art learning facility.
Cost of Maintaining Existing High School:
As many are aware, over the past couple of years, the current High School has started to deteriorate. In August, 2021 the committee calculated the cost of bringing the current building up to code. The risk if the building does not meet code is loss of accreditation, as well as loss of students in the district. The cost at the time was $62.9 million dollars- this does not factor in the additional inflation we have experienced in 2022. What does this mean? The school will need a significant amount of maintenance to remain open and accredited. The Towns will be 100% responsible for covering that cost.
Town Breakdown
Spencer: 82.25%
East Brookfield: 17.75%
The table provides an overview of the breakdown, details on the financing, and an estimated average increase in taxes based on the average home value in each town. You are welcome to calculate the estimated financial impact based on your home’s current value using the formula provided.
Project financing costs as of August 25, 2022.
This informational outline provides an overview of how the debt will be paid back including timing and the impact on tax rates in both towns.Updated: September 26, 2022.
