Board gives approval for Eastern construction: HP Enterprise

I see while I was out, the County Commissioners gave the thumbs up to start constructing the new Eastern Guilford H.S. minus a funding formula, but pending a state insurance payment. See HP Enterprise story here.

An excerpt:

Com­missioners gave school dis­trict officials permission Thursday to move ahead with reconstruction of Eastern Guilford High School, but they could not decide how to pay for it.
With news that insurance may pay $50 million toward the estimated $61 million re­placement cost, several com­missioners did not want to commit to a financing plan. Commissioners agreed on a 10-0 vote to pay for the new school building and to allow school officials to proceed with project bids.
The Board of Education had requested $53 million to re­build theschool at Gibsonville that was destroyed by fire last Nov. Superintendent Terry Grier wanted commissioners to approve certificates of par­ticipation, commercial loans requiring no voter approvals, so that school officials could be confident of a funding stream.
“We would pay it back with lottery and insurance pro­ceeds with no cost to the tax­payers,” Grier said.

UPDATE: See link to News & Record story here.

E.C. 🙂


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