By MIKE RUSSO
This year, the
district is eligible for $1.71 million through a relatively new aid category known as Expanding our Children's Education and Learning (EXCEL).
EXCEL provides state funding for
capital improvement projects in
educational technology, health and safety, accessibility, physical capital expansion, school construction and energy-related
projects. Through EXCEL, the district can complete its capital improvement projects and be reimbursed dollar-for-dollar the
following year. The only cost to taxpayers is the cost of borrowing - a combination of interest, legal fees and financial advisor fees - which the school board estimates at between $50,000 and $75,000.
Proposition 3 is not included in the 2008-2009 proposed school budget, therefore it will allow the district to conduct necessary repairs and upgrades to the schools at a fraction of what it would normally cost.
"This is something we are really excited about because these are things we would otherwise have to include in the budget," said board president James Scannell.
Some of the projects on the district's agenda include refurbishment of floors and ceilings, upgrade of bathrooms, masonry repairs, purchasing of classroom projectors and replacement of fire escapes and front entrances at Shubert and Steele schools, exterior brick work at Baldwin Middle School and a new fire alarm system at
Baldwin High School.
According to Frank Fiumano, assistant superintendent for business and
administrative services, the district will seek a bond anticipation note from a
financial institution, preferably one that offers the lowest net interest rate. Fiumano is confident that the $1.71 million will cover the cost of the district's planned capital
projects.
Comments about this story? MRusso@liherald.com or (516) 569-4000 ext. 207.
