School district looks for second federal bond to complete asbestos removal and renovations
Hickory Public Schools in North Carolina applied for its first federal bond in July, a $1.4 million zero-interest loan from the 2009 Qualified School Construction Bond program, part of the American Recovery and Reinvestment Act of 2009. Bonds from this program must be paid back within 12 years.
The state of North Carolina received over $275 million for its school systems. Schools had to apply for the money, but the projects had to be shovel-ready. When the Department of Public Instruction announced on August 12 that it had $86 million remaining for more projects, Hickory Public Schools applied for a second bond. The $1.14 million loan would help complete renovations the initial funding didn’t cover.
The first loan is covering the replacement of many windows and doors at Hickory High School, asbestos removal, painting, and the replacement of the HVAC system, ceiling, roof and lights. The second loan should help replace the rest of the windows and exterior doors that the initial funding didn’t cover.
Renovations funded by the first loan are already underway, and the school system has sent in its request for additional money after the school board unanimously approved the request.
For the full story, go to Hickory Record.
