LAUREL COUNTY, Ky. — The Laurel County Board of Education held a special called board meeting Tuesday to award bids for construction of the Laurel County Career Readiness Center and to hold a District Finance Corporation meeting.
Construction for the readiness center will cost $19.8 million, an estimate that the board was pleased to announce fell $2.1 million under what they expected to pay for the project.
The board accepted the lowest bid on all construction related projects with the exception of elevator installation. D-C Elevator was awarded the bid at $59,000. The lowest bid, $53,396 by Thyssen Krupp, included a stipulation that elevator installation would have to be complete by September, a goal that Laurel County School District Superintendent Doug Bennett said was unrealistic.
The board also decided on the slightly more expensive solid limestone for the exterior of the building due to it being a long lasting and relatively maintenance-free material.
During the special called Finance Corporation meeting, board members voted to pass to resolutions, one authorizing the issuance of revenue bonds and one authorizing the refunding of revenue bonds.
“The federal government is not paying what they said they would on these bonds,” Bennett said. “Sequestration will eliminate the government not paying the interest on our bonds and will save us $20,000 per year with a total savings of $304,000 during their lifetime.”
The board’s decision to take legal possession of their assets will not only save the district money, but will also serve as the primary means of funding the readiness center construction project.
The readiness center will have six areas including engineering in which students will have the opportunity to earn college engineering credit before they graduate high school; the same for biomedical science.
It will also have a health sciences program; industrial maintenance program; power sports/ATV technology program, where students will work with small engine repair; multimedia technology/information technology, where students produce multimedia presentations for public consumption.
The Career Readiness Center is scheduled to open in fall 2015.