Officials at Geary County Schools are moving forward on funding a mechanism to pay for a new early childhood center in Junction City.
The USD 475 school board unanimously approved a motion to enter into a lease purchase agreement totaling $35 million. The district will borrow up to that amount as it looks to finance the new center, at a yet to be determined site. The agreement assumes a
10-year repayment plan at a 4.5% interest rate, utilizing federal impact aid to help pay back the loan. Piper Sandler Managing Director Dustin Avey provided the board some advice when it goes out to accept bids for the project.
The board is considering two locations for the new center, including the former Junction City High School property as well as land near the new high school on the west edge of the city. Board member Jason Butler…
Board member Mark Hatcher agreed that the board should move forward in the interest of not waiting until costs potentially go up even more.
Executive Director of the Governor’s Military Council, Lt. General (retired) Perry Wiggins spoke during public comment. He says the early childhood center will be an eventual boost to Fort Riley’s recruitment efforts.
The lease agreement comes after the district failed to secure grant money to help supplement about half of the overall cost of the project.
