Capital Lease for $1.7M to Support the Referendum Project
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.
Discussion of Land Swap With the Borough of Haddonfield
As part of the investigation and discussion of the land swap with the Borough of Haddonfield, the Board of Education located the deed for Scout Field. The Board of Education continues to investigate the properties and will post more information when available. We will keep the community updated with any new findings.
