AISD approves $892 million bond package

AUSTIN (KXAN) - The Austin school board approved an $892 million bond package Monday night aimed at relieving crowding at campuses across the district, upgrading equipment and technology and improving safety.

The package, which would raise taxes by 3.5 cents per $100 of assessed property value will be put before the voters in May. For a home valued at $200,000, the tax bill would rise about $70 a year, not including any exemptions.

"You want to continue to make wise investments in your renovations," said board President Vincent Torres. "Just as replacing your car or your house at some point you say it's not worth it to add anymore and tear it down. That's a conversation we are going to continue to have."

The largest chunk of money -- about $350 million--would go toward building repairs and improvements. About $166 million would be set aside for academic programs, fine arts and athletics, and about $234  million would go toward building three new schools and expanding others to relieve overcrowding.

Trustees also approved forming a plan for the future of Eastside Memorial High School, which is under fire from the Texas education Agency because of low performance.