Baldwin-Whitehall board advances $9.995 million borrowing to fund McAnulty elementary renovation

The Baldwin-Whitehall School District on Tuesday moved forward with financing steps for a planned elementary renovation, authorizing the administration’s finance team to prepare a parameters resolution for up to $9,995,000 in borrowing to fund the McAnulty project.

Jamie Doyle, the district’s independent financial adviser, told the board the district is focusing on “step 8” of a long-term financing plan and prefers borrowings under $10 million to secure bank-qualified tax-exempt rates and a five‑year call feature. “This 10,000,000 would be toward, your upcoming elementary project,” Doyle said, and outlined a timeline that could bring a parameters resolution to the Nov. 5 meeting with a possible sale soon after and settlement around Dec. 11.

Why it matters: the borrowing would fund site and building work including windows, roofing, HVAC, asbestos abatement and interior finishes. Administration said the board’s budget already identifies the dollars and millage needed to support this step and that no new mills would be required if the plan stays as presented.

Administrators cautioned the board that construction estimates are preliminary. Dr. Lutz and others noted bids are not yet in and that construction could run $3 million–$4 million over initial estimates; that gap could require local fund balance or staged borrowings. “We have no bids at this point,” administration said during discussion, and Doyle emphasized the parameters resolution provides flexibility if market timing changes.

Presentation highlights included: Doyle’s review of the district debt portfolio and market yields, the finance team’s recommendation to keep individual borrowings under $10 million for cost advantages, and a sample motion authorizing the finance team to prepare paperwork for board action in November. District staff described a planned construction timeline targeting summer 2026 through summer 2027 and said McAnulty students and staff would be relocated to Baldwin High School during construction.

The board approved the package of non-personnel consent items (which included the bond authorization items presented) by voice vote; the chair announced the motion passed 8–0 with one member absent.

What’s next: administrators will advertise the project, hold pre-bid meetings later this month, and return to the board with a parameters resolution on Nov. 5. If the board adopts parameters, the finance team said it could proceed to a competitive internet auction for the sale at an optimal market date.

Budget and scope clarifications: Doyle said the parameters resolution will include a conservative amortization analysis and that a parameters figure may be sized about 20% higher for bid-day flexibility; the district will not issue more than the authorized $9,995,000. Administrators also listed an existing state asbestos-abatement grant (roughly $120,000) previously awarded and other local funds earmarked for the project.