Schools
Parkland Poised to Start Kratzer Improvements this Spring
Parkland School Directors took the necessary steps to secure a bond that will allow improvements to Kratzer Elementary to start this spring.
Parkland School Directors approved a resolution Tuesday night that allows their financial team to maneuver in the bond market in order to get the best rate for a $10 million loan to pay for projects in the district starting with Kratzer Elementary School.
The parameter resolution extends to $12 million but projected costs come in around $10 million, according to Director of Business Administration John Vignone.
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The money will go toward capital improvements, starting with renovations and improvements to Kratzer Elementary, which was identified in the district's feasibility study as a high priority project. In its entirety, the feasibility study identified $24 million in building improvements.
The projects are broken down into the following categories starting this spring and ending September 2015:
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- $4.25 million for Kratzer Elementary.
- $750,000 for buses.
- $1.85 million for technology infrastructure.
- $3 million for other district-wide projects.
- $158,000 for insurance costs.
Directors voted unanimously to approve the resolution.
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