The Carbondale Area School Board voted unanimously last week to move forward with a $15 million high school renovation project.
The project is being funded through a Pennsylvania Department of Education (PDE) program which is making low-interest bonds available to school districts for approved projects. District superintendent Dr. Dominick Famularo noted that renovations to the Carbondale Area Jr.-Sr. High School have been approved under the state program guidelines by PDE.
Although the project was initially announced some months back as providing zero-interest bonds to districts, bond counsel Brian Koscelansky of the firm Stevens & Lee, Scranton, now says that is not the case. He told the school board members at their regular meeting on Monday night, Aug. 16, that the rates on the bonds could run up to about two percent. He noted that a contract should be executed with the state sometime next month, at which time those fixed rates will be in place.
“Obviously, you will see those final numbers before that final contract is signed,” he assured the board.
Still, district officials said they can’t predict what the millage impact will be on the renovation project, since state reimbursement figures won’t be known until next year.
“We will be adding $15 million of debt service,” district business manager David Cerra related, “but we are expecting 27 to 30 cents back [in state reimbursement] on every dollar we spend.”
When asked by the NEWS about the board approving a $15 million project without knowing what the millage impact will be to taxpayers, Cerra replied: “That’s the program.”
“At the same time, if the school district were to borrow the money for this project, if we were to do it through a regular bond issue, the cost would end up being $24 million,” he offered. “So if you are of the belief that the high school building needs to be upgraded, then this is the best deal that the board could get to make sure it gets done.”
John Palumbo of The Palumbo Group, lead architect on the project, addressed the school directors at the meeting. He told them that, under the state program, some renovation work will be required to be part of the project while other improvements will be left to the discretion of the school district.
In a related matter, the board approved Plancons A and B outlining the project for submission to PDE. However, Famularo said a public work session will be held first, to allow district residents to offer their opinions on the plans before they are submitted to the state. He said this would also give the public an opportunity to provide input on how best to allocate the project’s discretionary spending before the board makes any final decisions.
During the public comment portion of last week’s meeting, city resident Bill Andrews (who is married to director Tracey Andrews) urged the district residents in the audience to attend the public work session and speak out on the project.
“It’s not their money, it’s our money,” he said of the project funding.
Director Diane Harrity took issue with that, responding that “some of it is my money.”
“I have two houses that I pay taxes on,” she pointed out.
The public work session has been scheduled for 7 p.m. on Wednesday night, Aug. 25, in the high school auditorium.
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The Carbondale Area School Board voted unanimously last week to move forward with a $15 million high school renovation project.
The project is being funded through a Pennsylvania Department of Education (PDE) program which is making low-interest bonds available to school districts for approved projects. District superintendent Dr. Dominick Famularo noted that renovations to the Carbondale Area Jr.-Sr. High School have been approved under the state program guidelines by PDE.
Although the project was initially announced some months back as providing zero-interest bonds to districts, bond counsel Brian Koscelansky of the firm Stevens & Lee, Scranton, now says that is not the case. He told the school board members at their regular meeting on Monday night, Aug. 16, that the rates on the bonds could run up to about two percent. He noted that a contract should be executed with the state sometime next month, at which time those fixed rates will be in place.
“Obviously, you will see those final numbers before that final contract is signed,” he assured the board.
Still, district officials said they can’t predict what the millage impact will be on the renovation project, since state reimbursement figures won’t be known until next year.
“We will be adding $15 million of debt service,” district business manager David Cerra related, “but we are expecting 27 to 30 cents back [in state reimbursement] on every dollar we spend.”
When asked by the NEWS about the board approving a $15 million project without knowing what the millage impact will be to taxpayers, Cerra replied: “That’s the program.”
“At the same time, if the school district were to borrow the money for this project, if we were to do it through a regular bond issue, the cost would end up being $24 million,” he offered. “So if you are of the belief that the high school building needs to be upgraded, then this is the best deal that the board could get to make sure it gets done.”
John Palumbo of The Palumbo Group, lead architect on the project, addressed the school directors at the meeting. He told them that, under the state program, some renovation work will be required to be part of the project while other improvements will be left to the discretion of the school district.
In a related matter, the board approved Plancons A and B outlining the project for submission to PDE. However, Famularo said a public work session will be held first, to allow district residents to offer their opinions on the plans before they are submitted to the state. He said this would also give the public an opportunity to provide input on how best to allocate the project’s discretionary spending before the board makes any final decisions.
During the public comment portion of last week’s meeting, city resident Bill Andrews (who is married to director Tracey Andrews) urged the district residents in the audience to attend the public work session and speak out on the project.
“It’s not their money, it’s our money,” he said of the project funding.
Director Diane Harrity took issue with that, responding that “some of it is my money.”
“I have two houses that I pay taxes on,” she pointed out.
The public work session has been scheduled for 7 p.m. on Wednesday night, Aug. 25, in the high school auditorium.
