PHM board awards $1.2M in capital improvement bids and advances lease‑financing steps for 2026 projects

Chief Operating Officer Dr. Sean Gallagher presented four capital improvement projects with combined expenditures of $1,203,773 and recommended awarding bids: replenishing playground mulch at elementary schools; replacing two skylights in the Penn High School media center (installed in 1973); district gymnasium resurfacing/maintenance at multiple sites; and a change order to complete the Elm Road exterior stair enclosure. The board approved award of the capital projects by a motion that carried 7‑0.

Following the capital approvals, the administration reviewed legal steps for the district’s 2026 unified lease financing for building improvement projects. Per Indiana Code 20‑47‑3, the board adopted a resolution determining the need for the project, a resolution approving the form of lease agreement and a resolution reapproving the Penn High School Building Corporation to issue tax‑exempt bonds on the district’s behalf. Each required motion was moved, seconded and carried by unanimous vote.

Administrators noted that lease financing is a commonly used mechanism by Indiana school corporations to finance renovation and construction without counting against constitutional debt allowance; lease rentals are paid from property taxes and the building corporation will purchase and lease buildings back to the school corporation at closing.

Next steps include contract execution for the capital projects and administrative work to complete lease‑financing documents and closings as authorized by the board.