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Supervisors authorize up-to-$7 million lease financing for school HVAC upgrades
Summary
The board approved an equipment lease financing resolution to fund school HVAC replacements and controls, authorizing up to $7 million with a 15-year term; staff said projects prioritize the worst-performing schools and will use school sales tax revenue when eligible.
Gloucester County supervisors voted to authorize equipment-lease financing of up to $7,000,000 to pay for prioritized school HVAC replacements and controls work, approving a 15-year financing structure recommended by staff and the county’s financial advisor.
Chief Financial Officer Maria Calloway told the board earlier quotes had risen since the FY26 budget was prepared and that the original $4.9 million estimate no longer covered all planned work. Staff and school operations managers prioritized the schools most in need so the county could complete the worst systems within the existing $4.9 million budget, but the board…
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