Keaton PetersThis article was written using information found in the National Bond Report from Strategic Partnerships, Inc. This comprehensive report features information on every public entity planning to hold a bond election. To purchase this report, click here.
Voters in a New Jersey school district have the opportunity to vote on major upgrades to their campuses. The Lacey Township School District is putting forward a $92.5 million bond referendum, with the state pledging to cover 40% of the costs through aid. The three-question ballot measure, scheduled for a vote on March 11, 2025, would allow the district to make substantial infrastructure improvements across its six schools.
The bond referendum offers a pathway for school districts nationwide seeking creative financing solutions to address aging infrastructure amid rising construction costs and tightening operational budgets. With many American schools built during the baby boom era now reaching critical maintenance thresholds, districts are increasingly turning to bond measures that leverage state aid and careful debt timing to fund essential upgrades while minimizing taxpayer impact.
“Our school buildings are well maintained, but many systems and structures have reached the end of their useful life,” Acting Superintendent William W. Zylinski told the Asbury Park Press. “The need for updates can’t be ignored.”
The timing of the referendum coincides with a national focus on educational infrastructure needs. According to the American Society of Civil Engineers’ 2021 Infrastructure Report Card, more than half of U.S. public school districts report the need to update or replace multiple building systems, including HVAC systems. The report estimated a $38 billion annual funding gap for public school facilities.
The referendum is structured in three tiers, with Question 1’s $30 million proposal serving as a prerequisite for the other two questions. This base proposal would fund critical infrastructure improvements including roof replacements at every school and HVAC system upgrades at the high school and middle school. The state would contribute $12 million toward this first phase, allowing the district to complete the work with no increase to the current school debt tax rate due to the timing of previous debt being paid off.
Question 2 proposes $38 million in improvements, including additional HVAC upgrades at every school, along with lighting and plumbing upgrades and electrical updates at a few select campuses. The state would contribute $15.2 million toward this phase, with local taxpayers seeing an estimated increase of $12 per month for a home assessed at the township average of $287,011.
Question 3 would allocate $24.5 million for interior facility upgrades across the district, including locker room and restroom renovations, a new gym floor, library improvements and repairs to exterior infrastructure such as parking lots and basketball courts. It would also fund a new synthetic turf field at the high school for multiple sports and activities. With $8.6 million in state aid, this final tier would add an estimated $8 monthly tax increase for the average assessed home.
If voters reject all three questions, school debt taxes would decrease by approximately $110 annually for the owner of a home assessed at the Lacey Township average. However, the district warns this could lead to more costly emergency repairs in the future.
Photo by Caleb Oquendo
