Lake Orion schools sinking fund projects underway at several bldgs.

Lake Orion schools sinking fund projects underway at several bldgs.

By Jim Newell

Review Editor

Construction and renovation projects are currently underway at the Lake Orion schools. The projects are the first in a line of repairs and renovations being paid for by the district’s sinking fund.

Last August, Orion residents passed the building and site sinking fund, with 57 percent of voters supporting the 2-mill request.

The sinking fund is expected to generate approximately $3.5 million annually for ten years and provide a dedicated source of funding for the long-term care of the school facilities, renovations and repairs.

The sinking fund costs the owner of a $200,000 approximately $200 per year.

There currently are more than $40 million in facility projects proposed for Lake Orion schools, according to the district.

About one-third of the State’s public school districts currently have a sinking fund in place to address their facility needs, including 12 of 28 districts in Oakland County.

Current projects include paving and site improvements at Carpenter and Stadium Drive elementary schools; sidewalk repairs and carpet replacement at the high school; roof replacement at Carpenter; parking lot replacement at Waldon Middle School; interior renovation and carpet replacement at Orion Oaks; a parent drop-off extension at Paint Creek Elementary; Orion Oaks cafeteria flooring replacement; gym floor renovations at Paint Creek Elementary; and roofing work at the CERC building.

The Lake Orion Review will provide further updates as the projects progress.

 

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