Dist. 211 gets update on projects, financing
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While presenting a budget and financial projection update to the board Thursday, Schaumburg-Palatine High School District 211 officials highlighted key projects the district will be working on during the next two fiscal years.
For both 2012-13 and 2014-15 the district will allocate a large portion of $2.4 million for roof, masonry, boiler and hardware repairs and replacements primarily at Schaumburg High School and Palatine High School as part of an ongoing districtwide life safety project.
Associate Superintendent of Business David Torres explained that all school buildings are surveyed every seven years by an architect or engineer who issues a safety survey report to the board. The report lists recommendations of work to be done at all five of the district’s schools to ensure the safety, health and security of all students and faculty in the buildings.
The last time the district was surveyed was in 2010. At that time, Torres said, the board was notified that it had been approved for $26 million in life safety improvements.
The first phase of the project was completed in the summer of 2011 with financing from existing operating and maintenance funds.
To complete the remaining work, Torres recommended that the district issue $16 million in life safety bonds this fall and $10 million more in 2015. He cited interest rates being at a 50-year low as an advantage to this form of financing, and the fact that issuing bonds in those years will not increase the tax rate.
Officials also outlined other projects that will be done in the 2012-13 and 2013-14 fiscal years and their costs.
A proposed $1.5 million will be put aside for building site improvements each year, while major building projects will receive $2.4 million in funding per year.
Wood floor refinishing, asphalt and concrete improvements and carpet replacement at all five of the district’s high schools will make up the majority of the $1.5 million in building site improvements for the next two years.
Some of that money has also been budgeted to refinish swimming pools at Schaumburg and Palatine High Schools and to remove the bus garage at Fremd High School.
Major building projects for the next two years include a $2 million kitchen renovation at Palatine High School and the installation of a new $1.5 million districtwide telephone system.
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