During a recent government meeting, officials discussed the planned issuance of debt to manage financial obligations, including the payoff of a bond anticipation note and payments on installment purchase revenue bonds due December 1st. The proposal is set to be recommended for board approval, with bond counsel present to address any inquiries.
The meeting also addressed a request for reallocation within the 2023 capital program, which aims to allocate additional funds to the new D10 Bridal School project and provide $850,000 for a change order related to the Hershey Montessori project. The total reallocation amounts to $9.1 million, sourced from phase 5 sales tax revenues.
Further discussions highlighted the West Ashley project, with officials noting a significant increase in construction costs since the last funding allocation in October 2022. The cost per square foot has risen from approximately $254-$298 to around $400, attributed to rising material and transportation costs rather than project delays.
The meeting concluded with no public comments, either in person or online, indicating a lack of community engagement on the discussed topics.