QPS Board discharged the first series of bonds for district reconstruction
The Quincy Public School board accepted two motions Monday that will carry on progress on an $89 million building construction plan.
The board permitted the discharge of the first $10 million in general compulsion school bonds for the project.
Releasing the money now will help the district take benefit of a particular tax code proviso that permit the district to release up to $10 million in tax-exempt borrowings every calendar year.
Supporters of the resolution reasoned that releasing the money now, instead of a later date closer to the start of construction, will permit for one extra year using the tax provision while interest costs are potentially lower.
connecttristates.com has published this news recently. Ross Green, anchor for KHQA News at Six and Ten, Multimedia Journalist reported this news.
The board said it plans to release another $10 million in 2015.
The school board also approved starting the process that explores the use of a construction manager for the project.
However, that motion was preceded by a heated exchange between Board President Stephanie Erwin and Vice President Jeff Mays.
Last week, the board discussed the potential use of a construction manager and heard from Swansea, Illinois-based Holland Construction Services regarding the position.
Erwin felt that meeting was unfair to local contractors.
“Yes, we do have to take the lowest bid, so it's not a guarantee for our local contractors but I just feel they were kind of left out on the side as far as the initial discussions,” she said.
However, Mays said the board's meeting with the out-of-town firm was not meant to exclude local bidders.
Mays said the position could go to a local firm, but he's most concerned with the timeline of the project.
“We're taking the time necessary to explore all options, we want to do it as quickly as we can because we know we have buildings to bring online in September 2016, but it's so critical that we start this right,"” he said.
The board said it plans to discuss setting up a meeting with local contractors next week.
However, the approval to request proposals from construction managers does not mean the district will end up hiring one during the project.
According to a previous study conducted by the city, an estimated 700 construction jobs could come to Quincy over the next five years and 700 indirect jobs could result from construction workers buying supplies and sales tax revenue.