Schools
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.
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"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.
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According to King, 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.
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