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Intermediate Unit parking dispute and $55M revenue anticipation note draw scrutiny at IU committee report
Summary
Board members reported that Intermediate Unit officials entered a parking agreement after a July property sale, will shuttle employees at a projected non‑budgeted cost of about $78,000, and approved a $55 million revenue anticipation note; districts may face cost allocations.
Board members reported Wednesday on issues at the regional Intermediate Unit (IU) that drew concern, including a parking dispute that arose after a property sale and the IU's approval of a $55 million revenue anticipation note (RAN) to cover shortfall costs.
Board member Mr. Scholl told the Derry Area School District board that the IU learned on July 14 that a property between the Clearview School and the IU administration building had been sold to a group that no longer allowed IU employees to cross its property for parking.…
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