Last night, February 26, our school board voted and approved a remodel of the west entrance of the high school. The remodel will provide new office space, storage, restroom, and a commons. The old office space will be converted to the learning center and resource area. Thus, eliminating the need for the one portable. The cost of the remodel will be approximately $700,000 using our building fund and some general fund dollars. The construction will begin approximately May 10 and should be completed the first week in August.
Additionally, the board authorized me to apply for a $2 million dollar Coal Trust Loan. This loan can only be used for building renovations. It is our intent, if we are approved for the loan, to utilize the dollars for this to address other maintenance concerns between both buildings yet to be defined using information from our maintenance plan from 2017. Please note, the state has to approve this loan and the parameters for it do require unanticipated costs. Given we have nearly $8 million in capital maintenance within our buildings, we are using this as justification. However, the NDDPI will have final say. Additional information regarding the loan can be found here: https://www.legis.nd.gov/infor...More importantly, this will NOT increase any levy existing levy we currently have in place. We will utilize our building fund levy to pay for this loan. The annual payments would be approximately $125,000 for 20 years; however, our intent would be to pay it off sooner. We should be able to pay it off in 10-12 years using our building fund and carryover dollars we supplant from the general fund to the building fund. We should find out if we are eligible for this loan in 1-2 weeks. When I receive this information, I will also share this. Should you have any questions regarding this in the meantime, please call or email me.