Council, school officials to meetPublished 12:31pm Saturday, March 23, 2013
BY ANDREW FAISON/CONTRIBUTING WRITER
FRANKLIN—City of Franklin School officials will meet with City Council on Monday to discuss funding options for capital projects for all three schools, through the Virginia Public School Authority.
The meeting will take place at 5:30 p.m. in City Hall Council Chambers .
VPSA operates several financing programs for public education. The goal of the financing programs is to provide low cost financing, while maintaining high credit level, to ensure that the lowest possible interest rates are obtained.
All local school divisions are invited to participate in the regularly scheduled pooled bond sales, that occur in the Spring and Fall of each year.
“To be approved for this funding we have to have documentation for each project completed,” said Franklin Superintendent Dr. Michelle Belle.
Priorities in the school system’s five-year capital improvement plan include replacing kitchen equipment at all three schools and replacing the roofs at Franklin High School, J.P. King Middle School and the Charles Street Gym.
A new roof at FHS is estimated to cost $628,000. The price tag could escalate up to $2 million, if it is not replaced before the warranty expires.
In addition, school officials are also considering enclosing the breezeway at FHS and purchasing up to two new school buses.
Due to time constraints, plans to build a $1 million addition to S.P. Morton Elementary School, replacing outdated modular units that house 32 classrooms, were not included in the current funding but included later in the five-year plan.
“It is in our long-term plan, but could not be included in this round of funding,” Belle said.