The district’s capital subcommittee reported several time‑sensitive funding and facility matters that could affect near‑term borrowing and project timelines.

Pending federal and state payments: Capital Subcommittee member Ben said the district is awaiting a $2,750,000 IRS tax credit expected for geothermal work at the Boardwalk Campus; the credit is in approved status but the district has not yet received payment. He said the district is also scheduled to receive roughly $1 million in final MSBA reimbursement at the MSBA board meeting in August, which the district had planned to use to reduce short‑term borrowing tied to the Boardwalk project.

Potential environmental/health capital need: Subcommittee members reported that monitoring wells at the Boardwalk Campus septic system have returned extremely high nitrogen readings. If authorities require remediation, district staff estimated a nitrogen treatment plant could cost approximately $750,000 to $1 million. The capital account currently holds about $1 million restricted to the building project that could be applied to any required work. The district said it will increase well monitoring this spring and expects the board of health to recommend next steps by late spring or early summer.

Other projects: The subcommittee reported planned rooftop unit replacements at the high school, with estimated costs in the $3.5–4 million range, and ongoing work on controls at the junior high and playground and roof projects at Blanchard School and the administration building. The district also plans to replace chillers at Parker Damon School using hybrid air‑source heat pumps through an existing vendor and the Mass Save program to defray costs.

Borrowing strategy: Capital Subcommittee members noted ongoing conversation about accelerating bonding to lock favorable rates given potential federal changes to municipal bond markets; the subcommittee planned a dedicated meeting on March 12 to discuss bonding strategy.

Ending: District staff will continue monitoring wells at Boardwalk, pursue pending reimbursements and tax credits, and report to the committee if immediate action is required to protect the district from unplanned capital costs.