06-15-2010 Regular School Board Meeting
Agenda Item #57


Title
Close the Viera High School Project

Discussion

The purpose of this Agenda Item is to close the Viera High School project.

At the 5/13/08 School Board Meeting, the Board approved a 10-year loan to Viera High School in the amount of $142,188.00 to assist in funding the construction of the Ticket/Concession/Restroom Building at the west end of the stadium (Agenda Item #39).  The loan was undertaken by the school based with the understanding that these funds were required to complete said building.  With all work complete, $63,703.04 remains in the project.  The School Staff has requested that the remaining funds be used to reduce the loan.

Financial Services confirms that $63,703.04 remains in the Viera High School project.  

 



Recommendation
  1. Approve a reduction of the loan to Viera High School for the Ticket/Concession/Restroom Building in the amount of $63,703.04 with the remaining funds in the Viera High School project.  The new loan amount will be $78,484.96.  
  2. Close the Viera High School project.

 



Meeting Date(s)
Information - 6/15/2010
Consent after Information7/20/2010

Authority for Action
FS 1001.42

Involves Expenditure of Funds Directly in the Classroom
No

Source of Funding

FY
Amount
Budgeted
Fund
Cost Center
Project
Function
Object
Program
07/08$63,703.04Yes38995320058647400634000

Contact

Dane Theodore, Director, Planning & Project Management  633-1000 x657

Jo Ann Clark, Director, Accounting Services  633-1000 x660

Mark Tormoen, Principal, Viera HS  632-1770