Plum School Board prepares for spending
The Plum School Board is lining up financing for its next round of building improvements.
Board members during the meeting last week approved two resolutions that are expected to glean the district about $13 million as they make decisions about the future of Adlai Stevenson and Holiday Park elementary schools.
In the first resolution, the board voted to proceed with borrowing about $7.5 million. The board also approved refinancing two separate bond issues, which is expected to collect a total of $5.5 million for the district.
The district also has about $2 million remaining from the Pivik Elementary School construction project.
The board earlier this year also voted to set aside $2.5 million in a fund created for capital improvements.
With all the sources of money, the district is expected to have about $17.5 million available for building projects.
The board, during a facilities committee meeting earlier this month, narrowed the possible options to three:
• Renovate Adlai Stevenson and Holiday Park at a cost of about $12 million.
• Demolish Adlai Stevenson and build a new school on the site at a cost of between $17 million to $23 million.
• Renovate Adlai Stevenson, including an addition, at a cost of approximately $11 million.
All three options include renovations to Regency Park Elementary.
Board member Richard Zucco emphasized that the board needs more information before selecting an option.
“We have not made a decision on the projects,” Zucco said.
“We just decided that we are going to have to do something in 2013, and we should start having our financing ready for when a decision is made.”
Zucco said the district saved money by going forward now with financing options.
Board President Andrew Drake said the district's tentative plan called for starting the renovation or construction in June.
He said the construction schedule can be adjusted if the board needs more time to select a plan.
“We want to make the right decision,” Drake said.
Karen Zapf is a staff writer for Trib Total Media. She can be reached at 412-856-7400, ext. 8753, or email@example.com.