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ALLEN COUNTY, Ind. (WANE) – After expressing concern about a lack of funding for renovations at Homestead High School, the Southwest Allen County Schools (SACS) Board of Education announced Tuesday that two funds will be used to fund the project. Approved the bond.
The school board approved two general obligation bonds valued at approximately $6.35 million each, and SACS Finance Director Mark Snyder said the two bonds are in addition to approximately $6.35 million that the SACS Board of Education had already approved several years ago. He said it will be added to a $6.2 million continuation bond.
Snyder said the use of the $6.2 million continuing bond does not require school board approval because the school board has already approved the bond.
“It’s going to hit the $19 million mark just right… We’re hopeful that based on those bids coming back, that’s good enough,” Snyder said.
If all goes as planned, Snyder hopes the bond will be able to finance the Homestead High School renovation without exceeding the tax rate the district committed to when the project began.
School officials also said they could use the surplus money from the bond to fund other projects and restore some of the Homestead High School renovations that had to be cut due to an initial lack of funding. Are expected.
“We’ll have to wait and see once the bids are completed. We’re going to thoroughly vet them and do what’s best for our kids and our community,” Snyder said.
At a previous school board meeting, Snyder said inflation had ballooned the cost of the project and ultimately resulted in bids from contractors coming in far higher than originally expected when district officials began working on the project in 2017. He said that the price had increased.
It is not yet known when the renovation work will be completed.
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