The District recently placed an advertisement for a capital lease for $1.7 million to support the referendum project. The additional monies are needed to cover costs for unforeseen but anticipated conditions during construction. While the low bid for the project was within the overall project construction estimate, it did not allow the full construction contingency recommended by our project consultants. Therefore, additional contingency funds to ensure the proper completion of the project were provided in the operating budget. However, in accordance with State law, the District is required to borrow the needed funds, although the loan can quickly be paid back. Also, as required by State law, a public hearing will be held at Haddonfield Memorial High School library on September 13, 2018, to answer any questions.