Tag: debt capacity
If the $96.5 million expansion plan that the Middle River Regional Jail Authority Board just submitted to the state becomes reality, Harrisonburg’s share of the cost would total $9.8 million, according to city staff. As one of five member jurisdictions of the regional jail authority, Harrisonburg funds the jail’s operational and capital costs based on its share of the total inmate population.
By 3-2 vote, council approves Plan A for the new high school design that includes athletic facilities
The Harrisonburg City Council narrowly approved the construction of the new high school as originally designed on Tuesday evening – with the athletics facilities included — allowing builders to break ground in time for the $87.2 million building to open in fall 2022.
It all comes down to tonight. Council’s decision on new school will decide when it opens and how it’s built.
To stay on schedule for opening the new high school in fall 2022, the City Council will have to authorize Nielsen Builders, Inc. to break ground this month. That has raised the stakes for tonight’s public hearing and vote — potentially the last chance for council to approve a design so that the builders can proceed on time or risk delaying the new school’s opening by a year.
With funding decisions for the new high school now being debated by the school board and city council, the term “debt capacity” is getting a turn in the limelight. It refers to the city’s ability to borrow money, which, like personal lines of credit, has a limit.