School board prepares to spend millions on buildings
The Plum School Board is lining up financing for its next round of building improvements.
Board members during their 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 bonds, which is expected to save the district $5.5 million.
The district has about $2 million remaining from the Pivik Elementary School construction project.
The board this year voted to set aside $2.5 million in a fund created for capital improvements.
In all, the district is expected to have about $17.5 million available for building projects.
The board, during a facilities committee meeting, narrowed its options to three:
• Renovate Adlai Stevenson and Holiday Park for about $12 million.
• Demolish Adlai Stevenson and build a new school on the site for $17 million to $23 million.
• Renovate Adlai Stevenson, including an addition, for approximately $11 million.
All three options include renovations to Regency Park Elementary.
Board member Richard Zucco emphasized that the board needs more information before making a decision.
“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.”
Board President Andrew Drake said the district's tentative plan calls for starting the renovation or construction in June.
He said the construction schedule can be adjusted if the board needs more time.
Karen Zapf is a staff writer for Trib Total Media. She can be reached at 412-856-7400, ext. 8753, or email@example.com.
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