NLS approves funding for track and field projects
NEW LONDON — Low bids for two separate financial tools that will fund installation of a new outdoor track and artificial turf for the football field were approved Monday by the New London-Spicer School Board.
The board is not expected to take action on the actual construction bids until April 10, but action Monday puts the funding mechanisms in place.
A $857,000 lease purchase agreement with Bremer Bank of Willmar was approved with an interest rate of 2.76 percent. It was the most attractive bid of four proposals.
That money will be used to pay for the synthetic turf on the football field.
With a lease purchase agreement, the bank owns the asset until the loan is paid off.
The board also approved a $580,000 general obligation facilities maintenance bond that will pay for the scheduled replacement of the track. There were two bidders for that bond with Northland Securities Inc. of Minneapolis offering the lowest interest rate of 1.86 percent.
The district received "lump sum" bids for the track and field, as well as construction of a new road for buses that would be built between the elementary and middle schools, said Board Chairman Robert Moller.
Engineers are sifting through the different proposals, which includes multiple alternatives, in order to determine the true low bidder for construction, Moller said.
Engineers will also need to determine what soil correction costs are associated with the separate projects and which pot of money those costs will come from, Moller said.
Based on the initial bids, Moller said it's expected all three projects will be in line with estimated costs.
The board also received an update this week on the current $20.6 million construction project. While construction of a new cafeteria and two new classrooms at the elementary school and new high school gym is on schedule, the performing arts theater at the high school is about 40 days behind schedule, according to Kevin Currie, construction manager with Winkelman Building Corporation.
Currie said wet weather was to blame for delays on the theater, which is now expected to be completed by Dec. 1.
Despite some change orders in the construction plan, Currie said the contingency plan still has about $1 million remaining.