Forum about Southfield Schools Millage April 30

Forum about Southfield Schools Millage April 30

Lathrup Village, Southfield, MI – Southfield Public Schools Interim Superintendent Derrick Lopez will be speaking at a Community Forum in the Community Room of Lathrup Village City Hall on Monday, April 30th at 7:00pm. The location is 27400 Southfield Road (south of 12 Mile Road), Lathrup Village, MI 48076.  The event is free and open to the public.

Southfield Public Schools is holding an Election on Tuesday, May 8, 2018 for a Sinking Fund Millage. Mayor Kelly Garrett stated, “We have received a number of inquiries from residents and wanted to provide them with an opportunity to hear information and to have any questions answered that they may have regarding the millage proposal.”

The Sinking Fund Millage proposal seeks voter authorization for the Southfield Public Schools to levy a building and site sinking fund tax, the proceeds of which will be used for the construction or repair of school buildings, school security improvements, the acquisition or upgrading of technology.

The Southfield School District is requesting to increase the constitutional limitation to allow the levy of 0.7 mill ($0.70 per $1,000 of taxable value) on all taxable property in the district, for a period of ten (10) years, the years 2018 to and including 2027 to create a building and site sinking fund that would generate approximately $1.68 million annually.

According to the Southfield Public Schools (http://www.southfieldk12.org/district/sinking-fund-millage-election/) :

-The refinancing of the bonds in 2017 reduced the district’s borrowing costs, resulting in a .7 mill reduction in the school debt millage rate going forward.

-Replacing the 0.7 debt mill reduction with a 0.7 mill sinking fund provides funds to improve district infrastructure.

-0.7 mill sinking fund would provide approximately $1,680,000 of annual resources for repair of school buildings, school security improvements, and technology.

-0.7 mill equals 70 cents per $1,000 of taxable value.  For example, the tax on a home with a $50,000 taxable value would be $35.

The Southfield Public Schools District includes the Cities of Lathrup Village and Southfield.

For additional information regarding the forum, contact City of Lathrup Village at 248.557.2600.

Community Forum on

Southfield Public Schools Sinking Fund Millage

27400 Southfield Road | Lathrup Village, MI  48076

Monday, April 30, 2018 at 7:00 p.m.

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