Five of seven members of the Warren School Board met Thursday, August 19 in a called meeting to discuss the status of funding for the planned new elementary school and arena.
The voters of the district have approved a five mill bond issue and the State of Arkansas has awarded grant funds to pay for the proposed project. The board, along with their architect and construction company, have plans ready and were prepared to start, until rising construction costs have run over the allocated budget. Work has been ongoing to determine what can be done to lower the cost or secure additional dollars. The board is determined to build the facility as presented to the voters of the district.
Present for the meeting was Senior Vice President of Stephens, Inc., John Holsclaw, who went over the project in detail and offered some ideas on how to bridge the gap financially. Mr. Holsclaw told the board they had enough revenue to add another $4 million to the budget by selling second lien bonds. Superintendent Cornish indicated he is seeking additional grant funding and may have a line on some possibilities. Some contracts will be rebid, but there is danger in rebidding the entire job as prices
could yet go up.
The board decided to wait a short time and try to secure some additional money and to make a decision by mid to late September. Work will continue with the architect and Clark Construction to come up with the best prices possible and get the job underway.
In other business, the Superintendent reported the school year got underway and overall has gone well. He stated the students and staff are cooperating with the school board mandate to wear masks when indoors.
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