Jim Atkinson, city manager, today (11.29.17) released figures for the preliminary costs in financing the proposed high school wing along with the current debt on the middle school.
The BOC (Board of Commissioners), in a special meeting Monday, agreed that they favored a mechanism to fund the debt through the IDB (Industrial Development Board). The BOC, IDB and LSB (Lakeland School Board) all must approve the funding process.
“These are the conservative estimates based on interest rates of 4% and 4.5%,” said Mr. Atkinson. “The current rate is under 4%, so the actual numbers if locked-in today would be less than what is shown in the tables. We are monitoring the rate on a daily basis as we continue the discussion.”
Link to the LSS (Lakeland School System) five-year CIP (Capital Improvement Plan): https://lakelandtn.gov/DocumentCenter/View/6691 .
Link to request from the Lakeland School System: https://lakelandtn.gov/DocumentCenter/View/6692 .
The high school would be built adjacent to Lakeland Middle Preparatory School (LMPS) which opened this school year to grades 5-8. It is located at 5020 Lions Crest Drive.
Link to the special LSB meeting: https://lakelandk12.org/wp-content/uploads/2017/11/12.4.17-Special-Called-Meeting-Agenda.pdf
Agendas have not been posted for the called meetings of the IDB and BOC next week
