In a recent government meeting, officials discussed significant financial adjustments related to the construction of the new Norwalk High School. The city is seeking to authorize a total appropriation of $239 million for the project, which is a substantial increase from the initially planned $50 million. This adjustment reflects the actual costs associated with the high school, necessitating an additional $189 million appropriation.
The funding for the project will be sourced from both city funds and a state school construction grant. To manage cash flow during the construction process, the city is also proposing an additional $15 million in bond anticipation notes. These notes are intended to provide short-term funding while awaiting reimbursement from the state, ensuring that the project can proceed without financial delays.
The proposal was met with unanimous support from the council, with one member, Ms. Dunn, abstaining from the vote. The meeting underscored the city's commitment to advancing educational infrastructure while navigating the complexities of funding and project management.