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Presenter urges quick capital vote to capture state reorganization building aid
Summary
The presenter told the board the district should pursue a capital project before key reorganization building incentive aid declines, saying the extra aid could cover about 90% of eligible costs in the first 10 years and that delay risks losing the incentive.
Dr. Timmons urged the board to move on a capital project quickly to capture the reorganization building incentive aid, which he said can cover up to about 90% of eligible costs in the first ten years after a merger. He recommended seeking state guidance on the aidable project size and, if possible, arranging a December vote so the district can maximize the 30% extra incentive while it remains available.
“It's kind of like this: if you buy next week, I will pay 90% of the cost of the car. If you wait, I'm only going to pay 60%,” Dr. Timmons said, explaining the sliding nature of the aid. The presenter said the district must learn the state’s maximum cost allowance before it can finalize project costs and schedule a public vote.
