PRAIRIE GROVE — If all goes as planned, the Prairie Grove School District would like to build a new primary school, a new competitive high school gym and a safe room/ physical education facility in 2014.
The Prairie Grove School Board recently approved a resolution to place the new construction projects on its six-year Facilities Management Plan due to the state by Feb. 1.
The district will request state partnership funds to help build the new primary school and safe room, which will also serve as a PE facility for the primary school. The district also is submitting an application for a state grant to help with funding for the safe room. The grant is available through the Federal Emergency Management Agency.
Assistant Superintendent Vol Woods discussed the district's sixyear plan during a public meeting held Jan. 23 prior to the monthly board meeting.
On Thursday, Woods said the district proposes to construct a new primary building adjacent to the intermediate school. The project would only include classroom space because both schools would share the intermediate school's cafeteria and library.
The oldest parts of the primary school need major repairs, Woods said. He said parts of the building were constructed in the 1960s and the roof needs to be completely replaced along with a sewer line that runs under the building.
After approaching the state about the repairs, it was agreed that it would be more economical to build a new school, Woods said.
The school estimates a new primary school for kindergarten-second grade would cost $6.8 million. If the state approves the project for partnership funding, Prairie Grove would pay 46 percent of the cost and the state would provide 54 percent.
With state partnership funding and a FEMA grant, the district estimates its cost for a safe room/PE facility would be about $100,000. Woods said the district would not build the safe room if it does not receive the FEMA grant. The size of the facility has not been determined but could be from 3,200 to 5,000 square feet.
The district estimates a new varsity basketball gym would cost $4 million and would be built adjacent to the high school's new PE facility now under construction. Athletic facilities are not eligible for partnership funding from the state.
The construction projects would allow the district to change other areas, Woods said. The older sections of the primary school would be torn down. And the newer part could be used for the district's central office and possibly alternative education classes. Woods said the district's current central offIce would then be used as part of the middle school.
If the state approves funding for the projects, Woods said the school board would seek voter approval to fund the district's share of the costs on the September 2013 school election ballot. If voters approve the bond issue and millage increase, construction could begin as soon as January 2014.
In a related matter on Jan. 23, the board voted to refinance two bond issues, one with a principal of $8,225,000 and another with a principal amount of $1,455,000, and the savings would be placed in the district's building fund.
Dan Lovelady, vice president with First Security Beardsley Public Finance, estimated the school would save $478,000 the first year of refinancing the two issues. Lovelady said interest rates are down in the municipal bond market because there is very little supply. The school district will advertise to sell the bonds and Lovelady projected the interest rate for both bond issues could be as low as 2.63 percent or 2.71 percent.
The savings from the $8.2 million bond issue can be used for academic facilities only and the savings from refinancing the $1.45 million bond issue does not have any restrictions on how the money can be used.
Williams recommended the school place the savings in the district's building fund. Over the life of the bond issues, the school district will save more than $1 million in interest costs.
News, Pages 1 on 02/01/2012