The Tisbury finance and advisory committee has voted 7-1 to recommend borrowing nearly $26 million in additional funds for the Tisbury school renovation and addition project. Voters will decide whether to approve the borrowing at a Sept. 20 special town meeting.
The future of the Tisbury School reconstruction project rests entirely on the Sept. 20 special town meeting, after the select board on August 24 unanimously rescinded a town election that was tentatively set for Oct. 4.
A two-thirds majority at the special town meeting Sept. 20 is still required to authorize issuing the additional $26 million in bonds.
The embattled Tisbury School renovation and addition project took another step forward this week when work began to gut the school gym.
Whether or not Tisbury voters approve an additional $26 million borrowing request for Tisbury School construction, on top of $55 million already authorized, the building must be vacated later this year once modular classrooms are ready, school committee chair Amy Houghton said.
If approved by voters this fall, the additional $26 million in borrowing would, combined with the initial $55 million, push property taxes up by roughly 15 1/2 per cent for the 30-year life of the bonds.