School Reconstruction Steams Ahead
NEW FINE ARTS WING, GYMNASIUM TO BE READY FOR 2012-13 SCHOOL YEAR
Posted: November 24, 2011 at 5:45 a.m.
Construction of Fayetteville’s new high school is moving along as the structure is being raised and seen at the corner of Martin Luther King Jr. Boulevard and Garland Street.
Students at Fayetteville High School should have something to cheer about in August when the first phase of reconstruction is completed at their school.
BY THE NUMBERS
Fayetteville High School
• First Phase: The first phase of the construction project is supported through $45 million in low-interest bonds, backed by an annual payment of $2.5 million from the district’s operating budget. The guaranteed maximum construction price is $36 million, according to Nabholz Construction Services representatives. Other costs include furnishings, equipment and professional design and other fees.
• Second Phase: School district voters in 2010 approved a $50 million financing package, including a 2.75-mill increase in the property tax rates, to complete the second phase. The package includes $31.4 million in interest-free Qualified School Construction Bonds and $19 million in traditional interest-bearing bonds.
Source: Staff Report
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