GIBBON — The Gibbon Fairfax Winthrop (GFW) School Board will consider a property tax abatement resolution at a Monday, May 5 special meeting.

Superintendent Kelly Smith said the proposal includes a parking lot improvement project at the new PreK-12 school building that would enable district residents to safety and conveniently access the facility and benefit the property.

In order to finance improvements, it has been proposed the board grant a property tax abatement not to exceed $2.9 million over 15 years.

Smith said the abatement to do parking lot improvements would free up money for a $1.55 million utility bond with the City of Gibbon that provides city water to the new school project being built on the east end of town.

“Right now, the school district has an obligation to pay more than $130,000 a year for the water project. By bonding the project, we’re able to save general fund money for school district educational programs,” said Smith.

The special board meeting follows a GFW School Board committee meeting beginning at 6 p.m. May 5. Committee meeting topics include a school facility update, review of budget adjustments and a proposed dance cooperative agreement with New Ulm Area Catholic Schools.

A public hearing on the proposed abatement is set for 6 p.m., Monday May 19 in the GFW Elementary School ECFE room, is required by state law.