Official Mail-in Ballot is Out for the December 10th Board of Mythomania's $189.5m Money Grab - Remember to Vote NO!

Well, looks like the Mail-in Ballots are out for the December 10, 2019 Board of Mythomania $189.5m Money Grab, aka School Bond Referendum.

It doesn't matter whether You're a Democrat, Republican, Green, any Other Party or Non-Affiliated in the town - this is not an election you want to sit out on. You can't sit by idly and be apathetic and let such a Ridiculous and Overpriced long-term decision be forced on You by Jerry 'Needs to Step-down' Shi and his dysfunctional and Local Dem-Party infested and politically corrupt Board.

Here's the official Mail-in Ballot for what Jerry 'Needs to Step-Down' Shi and his band of architects want You to Ridiculously do (with acknowledged credit to Jerry Shine) :

Just a quick explanation of the numbers on this Mail-in Ballot:

1. They want to $pend and issue bonds in the amount of $189,500,000 for 326,150 sq. ft. of New Construction and 94,950 sq. ft. of Rehabilitations..

2. The State has agreed to provide debt-service aid in the amount of 40% of the final eligibility costs of the projects. Only $77,709,450 of the $189,500,000 are final eligibility costs. The local shares of the projects may be transferred between the projects.

3. State Aid for New Construction is limited to 40% up to $143.00 per sq. ft. Since the New Construction for 326,150 sq. ft is $158,429,999 or $485.76 per sq. ft, the State only pays for those 326,150 sq. ft at $143.00 per sq. ft or  $46,639,450 at 40% or $18,655,780.

4. State Aid for Rehabilitations is 40% of the Rehabilitations of $31,070,000 or $12,428,001.

5. So, only 77,709,451 ($46,639,450 + $31,070,001) at 40% is eligible for State Aid or $31,083,781. That represents only 16.4% of the $189,500,000 - and the difference 83.6% or $158,416,220 falls on You to pay.

6. Now you have to throw on the financing costs for the $189,500,000. According to their own numbers, financing this thingie over 30 years will generate $123,272,719 in interest bringing the total cost up to $312,772,719. After state aid, the net cost to You is $269,164,093 and the net average annual cost of $8,972,136 to You will add an Annual Average Tax Impact/$100 of 12.47-Cents.

You can see all these numbers below and how it will impact YOU by just entering Your Assessed Value. This idiotic, ill-conceived, opaque, piecemeal and overpriced $189.5m Money Grab needs to Voted Down post haste. On average, it will triple what Your Current Year's School tax increase was for the next 30 Years.



You can go to the July 11, 2019 post and see all the costs for each of the six schools that they sent down to Trenton without you knowing. Finally, you can go to the September 19 and 20, 2019 posts and see all the costs, including financing costs, - and what this ambush Will Cost You.

Anyhoo, just Vote NO to this Ridiculous plan that will most likely not solve the Overcrowding problem while tripling what Your paying now in School tax increases for the next 30 years and have them sit down next year and put together something more practical, meaningful and affordable.