The Parkland School Board approved a resolution Tuesday night that allows the district's financial team to maneuver to get the best rate for a $10 million loan to pay for school projects, starting with Kratzer Elementary School in South Whitehall.
The parameter resolution extends to $12 million but projected costs come in around $10 million, according to Director of Business Administration John Vignone.
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 in September 2015:
- $4.25 million for Kratzer Elementary.
- $750,000 for buses.
- $1.85 million for technology infrastructure.
- $3 million for other districtwide projects.
- $158,000 for insurance costs.
Directors voted unanimously to approve the resolution.