Capital Project now "Tax-neutral "

admin  posted on: 10/01/04 03:49 PM

At the second Board meeting of September the Board of Education directed the superintendent to apply back Federal Aid recently received and "breakage" on early retirements to the local share available to support the capital project. We will now allocate $217,000 from capital reserve, a Member Item, and these two additional sources - making the project fully funded from available dollars and State aid. This will cause us to be able to do $1.5 million dollars worth of work on the building at no new tax cost , hence " tax neutral".