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Board hears concerns about Mon Valley/Steel Center lease, $10 million renovation estimate and districts ownership share
Summary
A board representative told the meeting that the Mon Valley/Steel Center lease is set to expire in October and that renovation needs could total about $10 million; the district is a roughly 23% owner and paid about $27,000 this year despite having no students currently enrolled there.
A board representative reporting on the Steel Center raised concerns about the facilitys lease, capital needs and the districts financial exposure. The report said the Mon Valley site requires significant renovations—estimated near $10 million—and that the center's fund balance available for capital work was roughly $1.7 million.
The representative…
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