Mt. Vernon considers $2 million loan for roof repairs


FORTVILLE — Mt. Vernon school officials are considering a $2 million loan to repair leaky roofs at multiple school buildings.

The roofs on all six district buildings — five schools and an administration center that also houses the district’s preschool program — need to be fixed, said Superintendent Shane Robbins, and school officials are moving forward with plans to borrow $2 million to pay for the project.

Roof maintenance on some of the district’s buildings has been put off the past few years, and rather than fixing issues one at a time, the district is seeking a loan to make needed repairs all at once, said chief financial officer Brian Tomamichel.

The plan to borrow money was announced recently when the school board looked at a number of renovations the district is considering at the corporation’s middle school. School board members will vote on the proposal at the board’s next meeting on Sept. 19, Tomamichel said.

The $2 million loan would not impact tax rates in the district, Tomamichel said. The corporation recently refinanced some loans to take advantage of lower interest rates, allowing it to save about $8 million of interest over the next 20 years, Tomamichel said.

For more on this story, read Tuesday’s Daily Reporter.