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TL Photo/ROBERT A. DEFRANK New Martins Ferry School Board member Allen Marangoni (right) and school board member James Agnew listen Tuesday about investment opportunities and future project needs.
MARTINS FERRY — The Martins Ferry City School District will receive additional funding in the coming years, and the school board is considering how to make the most of it.
On Tuesday, Treasurer Dana Garrison reported that the district is expected to save approximately $200,000 by refinancing the district’s Certificate of Participation for several major projects completed in 2021.
“This is a loan that we took out to build a roof and make the hill slide. …We’ll pay it off in 2048. If we refinance in that time frame, we’ll save about $200,000. ” Garrison said.
The savings break down to $200,000 over 24 years, or approximately $8,333 per year.
He said the district also has the option of borrowing money because interest rates are currently low. She did not have the exact charges on hand.
Superintendent Jim Fogle said the district will eventually need to work on several other projects, including new heating, ventilation and air conditioning systems, asphalt on campus and turf on the baseball and softball fields. He said further efforts to address floor raising issues would likely be needed in the future.
“We sat down and looked to the future of things that we knew were going to happen.” He said.
Garrison said the district would have to have a specific project in mind to receive another loan. Funding must begin within six months and construction must be completed within five years.
Garrison added that the loan would need to be collateralized by a district bus garage or an office building, as other buildings are already collateralized for roof and slip loans.
“Originally, we borrowed $11 million to build the roof and ramp.” she said.
Garrison said the district would be able to take full advantage of the interest if the board borrows the money in March, which would mean passing a resolution at the February board meeting.
The board will likely schedule a special meeting to discuss the best options moving forward and the most pressing needs.
“We’re looking at all of this to find out what our needs are and what we have to do to meet those needs.” Garrison said after the meeting.
Mr. Fogle also announced that he is discussing the possibility of offering college credit courses at Ohio University Eastern High School. He said high school students had the opportunity to participate in college courses, but had never had the opportunity to take college classes. “blend” High school schedule. He said the school district will be responsible for providing the rooms.
He said this opportunity is ideal for students who have earned the majority of required credit hours in high school and want to get a head start on college courses.
Fogle said OUE offers grant opportunities to pay for equipment such as screens and speakers for distance learning. Classes offered have not yet been determined, but could begin by fall 2024.
The district also received $30,000 from the Ohio Attorney General’s School Law Enforcement Link Safety Notification Grant for upgrades, including updating the camera system. Fogle said the cameras will be connected to police stations.
In other business, board members Charles Probst and Allen Marangoni took the oath of office. Mr. Probst was re-elected in November with 1,099 votes, and newcomer Mr. Marangoni won with 733 votes in a five-person contest for two seats. Former board member Nick Stankovic was rejected with 699 votes. Jeremy Schroes received 539 votes and Bill Sutow received 622 votes.
In other matters, the board of directors resolved to change its meeting time from 5:30 p.m. to the second Tuesday of each month at 5 p.m. Meetings will also be held in the high school library rather than the ward office building.
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