By USD 475

Geary USD 475 has received a federal Heavy Impact Aid payment that finalizes the $67 million escrow target used to fund the new Junction City High School project.

According to Marilee Fredricks, USD 475 Chief Financial Officer, “The money is deposited and invested. We have both achieved our goal while also earning interest on those escrow funds.”

During the bond campaign, the District said that principle and interest from the escrow account will comprise a significant portion of the bond payment. The State of Kansas provides matching funds equivalent to 40% with local tax proceeds making up a final seven percent of the bond payment. There will be no need for the District to raise its mill levy to support the construction of a new high school.

Hutton Construction is scheduled to receive the final set of construction documents from SJCF Architecture later this month, and will then issue a Request for Proposals to construct the new high school building and athletic fields. A final Guaranteed Maximum Price for the building and fields is scheduled to be presented to the Board of Education in mid-July.

Earthwork, paving and utilities work on the new high school is underway with a scheduled opening in August of 2021.