In an effort to economize in the long term, the Mason Metropolis Board of Schooling permitted a decision to difficulty $37 million in SAVE bonds at Monday night time’s assembly.
Over two-thirds of the cash will go towards the brand new natatorium and fieldhouse. The remaining goes to refinancing current debt at a decrease rate of interest.
“We’re estimating the price of the brand new facility at $25 million,” Superintendent Dave Versteeg mentioned after the assembly. “We’ll restructure or re-finance $12 million of our present debt. That is the place we get the $37 million. That makes our funds and financial savings total, lower than they’d be if we did them separate.”
Primarily based off projected enrollment numbers, the decision will save Mason Metropolis colleges roughly $105,000 on outdated debt. It would additionally save as much as $517,000 in principal and curiosity funds on the brand new debt.
The bidding course of for the addition, which is able to characteristic an 11-lane pool, 200-meter indoor monitor and three multi-purpose courts, has been opened.
In response to Versteeg, 52 contractors from throughout the Midwest had been current at a walk-through assembly final week. The bids for the challenge are due this Thursday at 2 p.m.
Then, the district will open the bids after 2 p.m. on Thursday and set up them. At a particular board assembly on Oct. 29, the board will evaluation suggestions from the structure agency Bergland and Cram and Mason Metropolis administration and promote the bonds for that bid.