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Working group: Vermont’s legacy school-construction debt is modest and targetable
Summary
A State Aid Preschool Construction Working Group told the committee that legacy school-construction debt is small relative to the state Education Fund, concentrated in a few districts, and that modest, equity-focused relief (for example up to $5 million per district) could remove debt for most districts at an estimated cost of about $53 million.
The State Aid Preschool Construction Working Group presented analysis to a legislative committee on Jan. 15, saying the state’s legacy school-construction debt is limited in scale and concentrated in a few districts, especially Chittenden County. Michael, a presenter for the working group, described data showing most legacy loans amortize within a relatively short period and that the state’s overall Education Fund dwarfs the annual debt service tied to those loans.
The group framed legacy debt not purely as a liability but as a reflection that many districts financed improvements at lower…
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