Friday, the Madison County Commission voted to help them match a BRAC bond that will pay for those construction projects.
MADISON COUNTY, AL (WAFF) -
Madison County School Board can move forward with its capital improvement plan.
Friday, the Madison County
Commission voted to help them match a BRAC bond that will pay for those
The school district is set to
receive nearly $56-million in BRAC, or Base Realignment and Closure, funding. In
order to receive that money, the district must match that amount with its own
money. The district was $23 million short.
County Commission is helping them secure that $23-million in bonds. The Commission
has pledged $5 -million over the next 10 years to obtain those bonds.
When the 10 years is up, the
financial burden will be transferred to the school district.
The eligibility of BRAC funding
and the matched money, gives the Madison County School district the green light
on its capital improvement plan.
The funding will allow the
school board to address the district's overcrowding issues and renovation
A new high school in Monrovia
is now on the table thanks to this money.
All three school districts
within Madison County have capital projects in the works in the combined amount
The County Commission Chairman
Dale Strong said the bonds will become available immediately.