On August 12, 2024, the Town Council voted unanimously to approve expenditures of up to $94.7 million (plus Bond Premium and Investment Earnings) for a "Critically needed new middle school and for other critically needed building repairs and renovations and safety upgrades to the Pond Cove Elementary and Cape Elizabeth High School, and the 1934 Building on the Cape Elizabeth Middle School Campus and Authorizing Issuance of the Town's General Obligation Bonds."  The total amount includes the School Board-approved $89.9 million school project and a Town Council directive to incorporate an additional $4.8 million to renovate the 1930s building.  The council also voted unanimously to send the proposed School Construction Project to a November 5 referendum, including language that reflects the Town Council's 4-3 vote against recommending the project.  Additionally, the council voted unanimously to authorize expenditures and send to referendum a "Solar Project" of up to $1.65 million in the form of gifts and grants to enhance the new middle school.

Following the Town Council's votes on August 12, the School Board convened a special meeting on Thursday, August 15, to discuss their recommendation on the Town Council's approved referendum question.  As the above referendum questions affect the school budget, the referendum questions must include a School Board recommendation on whether such questions should be approved.  Although the School Board had previously voted on July 18 to return the 1930s building to the Town and exclude the projected $4.8 million in renovation costs from the $89.9 million School Construction Project, the board voted 6-0 to approve a Resolution recommending the $94.7 million referendum question as drafted by the Town Council and the Solar Project referendum question.  School Board member Philip Saucier attended the meeting remotely; Heather Altenburg was absent from the meeting.

Superintendent Christopher Record informed the School Board that following the Town Council's decision to include the $4.8 million within the School Construction Project referendum, Interim Town Manager requested the town's Bond Counsel, Joe Cuetara, to adjust the tax implications accordingly.  The revised tax calculations on the $94.7 million bond referendum are based on 3.5% interest, down from the previous calculations based on 3.75% interest.

On Monday, August 19, the Town Council will hold a special meeting to authorize the signing of the Municipal Election Warrant for the November 5, 2024, election as presented.