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School board approves application to VPSA spring bond pool to finish Roanoke County CTE project
Summary
Board voted Feb. 10 to authorize the division to apply for the Virginia Public School Authority spring 2025 bond program seeking $46,560,000 in bond proceeds to round out funding for the Roanoke County Career & Technical Center (RCCTC); roll-call vote recorded as unanimous among members present.
The Roanoke County School Board voted Feb. 10 to authorize the division to apply to the Virginia Public School Authority (VPSA) spring 2025 bond program for bond proceeds to complete the Roanoke County Career and Technical Center project.
Susan Peterson told the board the division would apply for $46,560,000 in bond proceeds to "round out the full funding for the RCCTC project," and explained that the debt would be recorded on the county’s books even though the school division submits the application. She said the division has received preliminary approval for $25,000,000 in literary loans and earlier approvals for two elementary schools; final state approvals for some loans were pending Virginia Board of Education action on Feb. 26–27.
The nut graf: the board approved sending the VPSA application so the division can access the spring bond pool and avoid timing gaps in capital funding streams; the application must be submitted by Feb. 24.
A motion to approve participation in the spring 2025 VPSA bond program was made and seconded at the work session. The clerk called the roll for the vote; the transcript records the following yes votes: Mr. Greenway, Mr. London, Mr. Johnny, Mr. Hudson and Miss Clemons. The motion passed.
Board members asked clarifying questions about timing and whether the application required Board of Supervisors approval; Peterson said the division could submit the application without that county approval but that the debt would ultimately sit on the county’s books and staff would coordinate with the Board of Supervisors.
Ending: The board authorized the VPSA application and staff will submit the application and continue coordinating final loan approvals with state and county authorities.
