Oakwood City Schools wins OFCC support to accelerate renovations; Moody's upgrades credit rating
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Summary
Oakwood City Schools said it has become eligible for the Ohio Facilities Construction Commission's Classroom Facilities Assistance Program, which will co-fund 29% of eligible renovation costs and let the district move to full renovations at Harmon School and Smith Elementary; Moody's raised the district's rating from Aa2 to Aa1.
Oakwood City Schools announced that it has become eligible for the Ohio Facilities Construction Commission's (OFCC) Classroom Facilities Assistance Program, a change officials say will cover 29% of state-eligible renovation costs and let the district expand its planned work without asking taxpayers for additional funds.
"We have become eligible for the Ohio Facilities Construction Commission's Classroom Facilities Assistance Program much sooner than expected," Dr. Gupta said, noting that strong community support for a bond passed last May helped move the district "to the front of the line." The district said the OFCC co-fund will cover 29% of OFCC-eligible renovation costs.
The eligibility means Oakwood City Schools can transition from partial to full renovations at Smith Elementary and Harmon School, officials said. "By partnering with the state, we can complete all of the originally promised work, plus fully renovate the interiors of Harmon and Smith, including new windows, floors, and furnitures without any additional cost to our taxpayers," Dr. Gupta said.
Frank Eaton, the district's business manager, outlined next steps for the project. He said the district is procuring a design team of architects, engineers and construction managers; once that team is in place the district will complete a full design, phasing plan and contractor procurement. "We anticipate that this visible phase of the project will start in early summer 2027," Eaton said, adding that the district's current goal is to reach substantial completion by 2029 for this occupied-project renovation.
Eaton said the full-renovation approach will let the district address hazardous materials removal, modernize heating and air conditioning, and improve natural lighting and air quality. He also said OFCC will not only provide state dollars for eligible items but will offer additional project management and quality-control support during construction.
In related financial news, Dr. Gupta said Moody's has raised the district's rating from Aa2 to Aa1 following a recent site visit, and that Moody's cited "exceptional local community support" as a key factor in the upgrade.
The district also announced a redesigned athletics website under Athletic Director Tyler Rodis to make schedules, scores and updates easier to find. Officials said the next formal steps are completing design procurement and beginning the visible construction phase in 2027.
The district did not provide an exact dollar figure for the OFCC-eligible work or the total project cost in the remarks; those figures were "not specified" in the transcript.
