Operations Committee recommends $100,000 recoverable grant for community childcare center

The Operations Committee of the Board of Trustees of the Mineral Point Unified School District voted June 17 to recommend that the full School Board approve a $100,000 district contribution to renovate the donated former Kwik Trip building into a licensed community childcare center. Committee members specified the contribution should be structured as a recoverable or forgivable grant and should be contingent on the project securing other funding, including a $250,000 WEDC Community Development Investment Grant and private financing.

Committee discussion laid out the project budget and funding plan: the current project estimate is approximately $687,000 for building renovation, furniture and equipment, security systems, professional fees and contingency. Proposed funding sources documented by the committee included a $250,000 WEDC grant, an $80,000 city revolving loan, a $35,000 Community Foundation contribution, roughly $225,000–$250,000 in private financing, and the $100,000 district contribution from Fund 80. Members asked that the district attorney review the agreement to ensure the district can recover funds or limit its exposure if the project does not proceed or the childcare use does not continue.

The recommendation formalized by the committee does not include a board vote tally in the minutes; the committee record says only that the committee "voted to recommend" the structured $100,000 contribution. The next step is for the School Board to consider the committee’s recommendation and for administration and legal counsel to finalize the proposed agreement terms.