Ocean City voters approved a $2.5 million school bond referendum in a 755-239 vote on Tuesday, March 11.
Voter turnout among Ocean City’s 8,940 registered voters was 11.11 percent, according to totals from the Cape May County Board of Elections.
The vote total included a 93-54 margin in favor among mail-in votes.
The final tally is unofficial. Official totals — including provisional ballots — will be posted on Monday, March 17.
The vote approves borrowing $2,497,421 to help pay for a renovation of the Ocean City Primary School, which was constructed in 1965.
The school needs a new roof, heating and cooling systems, plumbing and electrical systems, windows and doors. Most classrooms have no air-conditioning, and some of the windows are 48-year-old originals, single-glazed and lined with asbestos.
The approved borrowing means the owner of a (not-quite-median) $500,000 home in Ocean City would pay an extra $15.39 in school taxes annually for a bond issue period of 10 years, according to School Business Administrator Pat Yacovelli.
The total projected cost for the project is $6,653,368. Ocean City will receive $2,399,279 from a state Regular Operating District (ROD) grant for school construction. The Ocean City School District will contribute about $1.8 million from a capital reserve fund.
Construction is not expected to take place until summer 2015, but the district wanted to take advantage of the state grant and low interest rates.