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District outlines $124 million construction plan, pinning costs to bonds and state partnership funds
Summary
CFO Brian Brown presented a construction budget summary showing three major projects totaling about $124 million and named funding sources including two bond issuances, state partnership funds and district funds.
Brian Brown presented a live construction-pay-apps document and a new construction budget summary tab that projects cash draws by month and by project. He said the district’s overall projected construction budget is $124,000,000, with the middle school project estimated around $74,000,000, Old Main renovation about $30,000,000 and a preliminary athletic and activity center budget included in the total.
Brown described funding sources: an initial bond sale of just under $10,000,000, a second bond sale of about $60,000,000, state partnership funding projected at $20,800,000 for the middle school, and roughly $33,000,000 from district funds to reach the cited total. He said the district will continue to update the pay application document and that detailed payment applications are available through links in the board packet for any member who wants to review contractor draws.
