Members of the Manchester Board of Mayor and Aldermen (BOMA) voted Sept. 3 to commit up to $2.5 million for expansions of College Street Elementary School.
The project is expected to cost about $4.1 million. The Manchester Board of Education will provide $1.6 of the total expenses, with the city covering the remaining cost.
The expansion will include building four classrooms and a cafeteria, according to Dr. Joey Vaughn, director of Manchester City Schools.
The project is still in its early stages.
The city has several options, when it comes to providing the $2.5 million, including the city’s fund balance and issuing bonds, according to Manchester City Mayor Lonnie Norman.
According to Vice-mayor Bill Nickels, BOMA should seriously consider paying cash for the project.
The city has enough funds to cover the project without having to issue bonds, for which the city will have to pay interest, according to Nickels.
The renovations can be completed in two stages, if necessary, added Nickels.
The city’s budget and finance committee and BOMA will continue to discuss funding possibilities.