Reader delivers open letter to corporation
To the Editor:
An open letter to the Clay Community School Administration.
The recent revelation that Tom Reberger and Frank Misner have developed a proposal that will allow a new bus barn and maintenance facility to be built at a savings of more than 85 percent of the original proposed cost that was in the building renovation project is something you should be paying close attention to.
From the beginning, I have been attempting to show you the project you were considering was overpriced. You were acceptable to borrowing $53 million at 5.5 percent interest for 23 years at a total cost of $98 million. This was a negotiated interest rate that was higher than needed, for a period of years that was longer than needed.
After the citizens of Clay County voiced their thoughts on the matter, you have now trimmed it down to $53 million at 4.42 percent for 20 years at a total cost of $83 million. And you are considering doing it in phases that may increase the total cost but would not obligate the corporation to a 23-20-year bond. An improvement over the original proposal but still inflated as to cost and duration.
You have had Tom Reberger's 10-year plan for years and have said that you never had the money to implement it. Well, why not implement it now? Borrow the money locally that he needs to make the repairs and renovations that are needed and stop this proposal you have to pay out millions of dollars to organizations outside of Clay County. Their services are not needed as Tom and Frank have shown you in their proposal for the new bus barn and maintenance facility.
Think about the greatest renovation for the least dollar amount. Think about the inflated cost for the repairs and renovations that you will receive through the building/renovation project from those organizations outside of Clay County. Think about keeping the costs down and the dollars right here in Clay County.