Whats in the bond referendum?
The bond referendum will ask for Cedar Grove voters authorization to borrow up to $9,950,000. This figure includes expenditures for adding to and renovating the former Ridge Road School in order to create a grades 5-8 middle school and for renovations to the existing schools. However, these amounts do not represent the total expenditures involved. The total projected cost of these projects is expected to be $13.8 million, but approximately $3.9 million will be paid for by the State as part of the Educational Facilities Construction and Financing Act. The referendum will identify the specific amounts for which the State will be responsible. This State funding will reduce the cost to Cedar Grove taxpayers to approximately $9.95 million.
