The Prescott School Board discussed potential financing options to replace aging heating and air units at the Malone Intermediate School building during its monthly meeting Wednesday evening.
Many of the units in place currently where there when construction of the building began in 1969 and parts for them either very difficult to find or can no longer be found. If such units broke down, fixing or immediately replacing them would be a big financial hit to the district.
But replacing them won't be cheap either. The cost of a potential total replacement plan is estimated to be around $2 million. The district has the option through the Act 32 state law of exceeding the state's levy cap for such a project with guaranteed energy savings (the guarantee provided by the units maker and installer, Trane Inc.) and could borrow the money to replace the units. The only way such financing would be voted upon in a referendum is if a petition gathers enough signatures of 20 percent of the district's electorate which voted in the last governor's election, which was in 2014. Such signatures would have to be gathered within a 30-day period after notice of District invoking Act 32 was posted.
The board looked over financing numbers with a representative with Baird Inc., a Milwaukee-based firm which handles financing for school projects. Board members desired more information and more scenarios for possible action and looked to set a public meeting sometime in the next two months to go over them.
Read the rest of the Prescott School Board's meeting story in next week's Prescott Journal, on newsstands and in town next Wednesday.