The Board of Education also voted to use $2 million in NC Lottery funds to reduce the total project cost. In addition, the Board approved the commitment of $200,000 annually from NC Lottery funds to pay toward the debt service of the new school. These commitments will reduce the overall tax burden related to school facilities.
The Board also voted to accept the repurposing plan for the existing high school campus and cost estimate of $2,610,341. This plan outlines the use of the current campus of Davie County High School upon completion of the new Davie County High School, including specifically the use of the K building for administrative purposes, and turning the remaining portion of the campus over to the Board of Commissioners for recreational and other community uses for the citizens of Davie County. An overview of the repurposing and several options for use as a recreational facility are also included in the architects’ presentation. The total cost of building the new high school and repurposing is $56,370,341.
The Board asked Superintendent Hartness to request a meeting with the Davie County Board of Commissioners during March, 2013 for the purpose of discussing the new plans for construction of a high school and potential methods of financing it, including specifically a request to place before the voters of Davie County a bond referendum to fund a portion of the construction. A date for this meeting will be announced once it is established.
The total amount requested in a school bond has not yet been determined. Discussions with the Board of Commissioners will include an overview of the design, previous funding commitments toward solving the high school issue, as well as other methods for financing the new school. Once a level of commitment is reached, a total amount for a school bond can be determined, as well as the potential impact on the tax rate.