11/13/2013

School Board votes to request $1.75 million bond for capital improvements

The School Board is seeking a $1.75 million bond for capital improvements to school buildings.

The vote requests that the Town Council issue the bond in fiscal 2016 primarily to replace roofing at all three Cape Elizabeth schools; for heating, ventilation and air-conditioning replacement; and for electrical system upgrades.

The vote was a follow-up to the school 10-year capital improvement plan presented to the board by the buildings-and-grounds committee in September. The plan, which outlines anticipated capital needs through 2024, calls for a $13 million capital investment in school and Community Services facilities, funded by $3.7 million in bonds.

Michael Moore, chair of the board's finance committee and representing the buildings-and-grounds committee, said he was confident that the bonding program was the most cost-effective way to assure that the projects are completed.

School Board member David Hillman added that bonding a third of the anticipated projects over the next three years presents a reasonable, conservative risk.

Of the $1.75 million requested funding, 65 percent is earmarked for roof-replacements at all three schools - $800,000 for the High School; and $175,000 each for the Pond Cove and Middle School. The remaining funds would go toward replacing heating, ventilation and air-conditioning equipment at the Middle School, $325,000; and, upgrading electrical systems at the High School, $275,000. All of the infrastructure proposed for improvement is at or near the end of life expectancy, according to the presentation.

Asking for the bonds now, Moore said, will allow adequate time for project planning and bidding: "To plan all these projects, to coordinate all these projects so we don't have to interrupt the school year, that's the reason for bringing it forward tonight," he said.

The Town Council will consider the request at an upcoming meeting once it is received.