Members of the state School Building Authority hope that by selling bonds on Wall Street, they will help secure $100 million to help build schools over the next three years.
Members of the state School Building Authority hope that by selling bonds on Wall Street, they will help secure $100 million to help build schools over the next three years.
SBA members made the decision at a meeting in Hancock County on Monday.
Mark Manchin, the agency's executive director, expects the bonds will be sold in late July, and free up $20 million this year, $60 million in 2009 and $20 million in 2010.
He figures the investment can't hurt, as the dollar amount that county leaders request to help build schools each year far exceeds the money on hand.
Manchin has said the SBA would invest some of its annual budget toward debt service, the money needed to pay the principal and interest on a debt.
Also Monday, SBA members approved new building standards for school construction. The new "quality and performance standards" will set requirements for construction schedules, materials, roofing, flooring, indoor and outdoor walls, the quality of doors and windows and more.
Some West Virginia school architects had worried that "cookie-cutter" schools might start to eliminate the architect's role.
"I think we've allayed their fears," Manchin said. "It's not our intent to require the exterior of [buildings] all look alike."
Members of the state School Building Authority hope that by selling bonds on Wall Street, they will help secure $100 million to help build schools over the next three years.
SBA members made the decision at a meeting in Hancock County on Monday.
Mark Manchin, the agency's executive director, expects the bonds will be sold in late July, and free up $20 million this year, $60 million in 2009 and $20 million in 2010.
He figures the investment can't hurt, as the dollar amount that county leaders request to help build schools each year far exceeds the money on hand.
Manchin has said the SBA would invest some of its annual budget toward debt service, the money needed to pay the principal and interest on a debt.
Also Monday, SBA members approved new building standards for school construction. The new "quality and performance standards" will set requirements for construction schedules, materials, roofing, flooring, indoor and outdoor walls, the quality of doors and windows and more.
Some West Virginia school architects had worried that "cookie-cutter" schools might start to eliminate the architect's role.
"I think we've allayed their fears," Manchin said. "It's not our intent to require the exterior of [buildings] all look alike."
Chuck Wilson, lead school architect for Kanawha County Schools, had similar fears soon after he joined last fall with other architects, contractors and SBA members to consider new standards. Now, he agrees with Manchin.
"I'm real pleased with the end results," he said. "I think that will help with us estimating future projects with quality levels."
Wilson's also pleased that the committee adopted some of the practices he uses in Kanawha County, and believes statewide school-building standards should be updated and redistributed to builders and architects every so often.
The SBA members also agreed to increase the dollar amount that they will fund new school buildings based on square footage. Costs per square foot now ranges between about $209 and $239, depending on the size, age of students and other details of a new school.
SBA members added $8.25 per square foot to align with the new quality and performance standards and $4.97 per square foot to employ environmentally friendly concepts.
Over time, new green concepts in schools cut back on energy costs, although the upfront expense is more, Manchin said.
Reach Davin White at davinwh...@wvgazette.com or at 348-1254.
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