The first time we heard the “I” word, it was October.
Now, it’s really happening.
The District is aware that:
1) Enrollment projections by their own paid demographer are substantially lower than pre-referendum projections.
2) Pre-referendum projections on existing EAV have been lowered and are likely to decrease to reflect real market conditions.
3) Post-referendum projections on new construction EAV have been lowered by 78% from those of pre-referendum.
4) The District entered into an intergovernmental agreement with the City of DeKalb that returns 50% of the District’s property tax levy, that is a direct result of the referendum, “unencumbered” and yet the District has not applied those referendum tax dollars to related school construction debt repayment.
5) Four District Board Members (voting majority) knowingly participated as voting members of the Facilities Planning Committee to make recommendations to the District Board.
An injunction is needed to prevent the District from entering into General Contractor/Construction Manager contracts that are based on bid specifications for the 400,000 sq ft building that was cost-based on known faulty enrollment projections.