Voters in Glenbard High School District 87 appear on the verge of letting the district borrow $35 million to help fund facilities work at all four district schools.
With 73 of 137 precincts reporting Tuesday night, voters are supporting the district's borrowing plan by a margin of 6,202 to 4,571.
The $35 million could help the district complete a 10-year, $100 million facilities improvement plan that includes big-ticket upgrades such as air conditioning for Glenbard East and West high schools, science lab updates throughout the district, fixes to roofs and parking lots, and safety and security improvements to building entrances.
Before Tuesday's election, district officials already had set aside $45 million and begun borrowing $20 million to fund the projects.
The borrowed funds will help the district spend between $12 million and $17 million each summer between 2015 and 2018, Superintendent David Larson said. Without voter approval to borrow more money, larger projects such as air conditioning installation might not fit into the budget.
Taxes will not increase if voters grant permission for the district to take out the $35 million loan, because payments on it will be phased in as other debt is paid off.
If the request to borrow money is denied, the owner of a $265,500 home is expected to see a $24 decrease in the school district's share of property taxes beginning with the 2018 tax bill. The reduction is expected to increase to $61 over time as loans are paid off.