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Finance Committee reviews bids and funding options; board could free about $2.7 million for projects
Summary
Committee reviewed estimated bids for masonry, flooring, architect fees and site work and a package of funding sources (School Maintenance Grant, TIF, working cash, capital cash, near-term investments) that together could make about $2.7 million available within three months.
The Finance Committee reviewed detailed estimates for potential building projects and the funding sources that could be combined to support them. Itemized cost ranges included masonry bids of $325,000–$375,000; kitchen and locker room flooring estimated at $215,000–$250,000; architect fees of $48,500; baseball and softball field water access at about $33,000; and back parking lot paving with lane and stadium at roughly $44,000.
On the funding side, the committee identified a $50,000 School Maintenance Grant and TIF revenue of $28,649, with working cash transfer capacity of $1,175,069, capital projects cash of $242,893, and investments maturing of about $1.85 million. Committee discussion indicated that, combining these sources, the board could make approximately $2.7 million available for building projects within about three months. The committee did not authorize specific project contracts at this meeting; bids and funding allocation decisions remain for the full board to approve.
