Schools' Renovation Project Needs Financing
Asbestos testing has been paused while the project is finalized.
Administrators can't finalize a project to renovate East Providence school buildings until a buyer is found to purchase a $9 million bond previously approved by voters.
"We are working to find a lender and the School District is in the process of finalizing the project time line to determine the financing needs," wrote Christy Healey, a state employee who works with the budget commission.
According to Mary King, finance director for the school district, project coordinators began work on the project a month ago. Members of the East Providence Fire Department have been assessing fire safety and code issues. But until the $9 million is secured, the rest of the plans can't be firmed up as construction bids can't be awarded, she said.
"We're still working it out," she said. "Project managers know they can only go to a certain point."
However, she said a May meeting with RIHEBC is on the books to help find a buyer for the bonds.
According to King, asbestos testing has been paused. The Department of Health has been informed of the project's progression.
Editor's note: It was previously reported that officials believed a loan was secured by RIBEC in February. RIHEBC is the agency that issued the bonds. A buyer is still needed to purchase those bonds.