At its regular meeting Tuesday night, the Iredell County Board of Commissioners approved a plan aimed at expediting building additions planned for Union Grove Elementary School.
The plan will allow Iredell-Statesville Schools officials to seek a direct-placement means of financing the $4.9 million Union Grove project.
Iredell County Manager Joel Mashburn explained that direct placement is akin to a private person simply seeking a loan.
"We just borrow the money," Mashburn said. "We will, of course, ask for bids, but other than that, it's just like you going out and getting a loan."
Schools and county officials had contemplated using what are known as Qualified School Construction Bonds (referred to QSCBs or "Q-scabs").
I-SS had been approved for $4.9 million in QSCB funds.
But County Finance Director Susan Blumenstein said it might be difficult to find a buyer in the current economy.
The plan approved Tuesday calls for I-SS to seek a low-interest loan and roll its approved QSCB money over to next year, combine it with new QSCB funding and use it to do a massive refurbishment project on Cool Spring Elementary School.
The Union Grove plan calls for replacing 12 classrooms and three resource rooms.
The project slated for Cool Spring involves replacing 10 classrooms and adding 10 new classrooms and four new resource rooms.
Also at Tuesday's meeting, the board voted to allow the Health Department to accept $240,000 from the state to be used to implement a H1N1 immunization plan.
The Health Department also was given permission to accept nearly $4,000 in advance of the no-indoor smoking policy that will go into effect on Jan. 1, 2010.
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