Adams-Cheshire Regional School District (ACRSD) treasurer Richard Jette announced plans to manage Hoosac Valley Middle & High School building project debt.
Tuesday October 23, 2012 CHESHIRE -- Adams-Cheshire Regional School District (ACRSD) treasurer Richard Jette announced Monday financing plans to manage the district?s Hoosac Valley Middle & High School building project debt that will save $2.5 million off the original expected cost.
The savings will be realized, according to Jette, by dropping from a 25 to a 20-year bond and permanently financing the Hoosac Valley Middle & High School building project, given a current market of favorable interest rates.
"It?s a process that we think makes a lot of sense," Jette said at an ACRSD meeting at Cheshire Elementary School.
This fiscal year, residents of Adams and Cheshire are subject to the first three tax rate increases associated with the project, but the full amount won?t weigh in until fiscal 2015.
Before Monday?s announcement, tax rates for the two towns in fiscal 2015 were projected to be up $1.47 in Adams and $1.04 in Cheshire per $1,000 of valuation.
Under the new plan, these figures drop to $1.25 and $0.84, respectively.
"We?re expecting that [this plan] will substantially lower the interest rate," Jette said.
The total cost of the Hoosac Valley Middle & High School Building project was roughly $40 million, 78 percent of which was covered by the Massachusetts School Building Authority. The refurbished school opened for business in September.
ACRSD officials will discuss the plan further in
meetings next month.In other business, reported technology issues at Hoosac Valley are nearly resolved, according to the school?s technology department.
At Monday?s meeting, the district?s Technology Facilities Specialist Dayne Poirot said only 16 of the school?s 154 new computers require programming.
The technology department incurred issues while attempting to network computers to the school?s system, which led last week to a visit from "corporate people from Apple," who also had problems. Poirot and others have been working on the computers one-by-one.
Projectors in the school?s auditorium and library are also in the process of being programmed.
Once the system is established, Tech nology Coordinator Peter Breen said at the meeting, faculty would benefit from additional training.
"It really needs another 16 hours per faculty member of training," Breen said. "The more we can do on the technology, the better."
Friday marks the district?s final "professional development" day, but officials said they?d consider expending the amount required to provide additional training and discuss it at a future meeting.
To reach Phil Demers, email pdemers@thetranscript.com.
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