FORT WAYNE, Ind. (WOWO): The process of building a new Homestead High School has officially begun.

Southwest Allen County Schools has started the process of issuing $9.6-million worth of bonds as part of the $169-million project, according to the Journal Gazette.

The bonds will pay for design work, construction site surveying, and soil sampling as part of plans to replace 80% of the existing building with new construction and renovate the rest.

Superintendent Phil Downs says the project won’t have an impact on tax rates, and construction should start next year.