Board approves plan to construct new bus drop-off area at Prospect Point

Board approves plan to construct new bus drop-off area at Prospect Point
Tuesday night school board members took steps to improve safety at Prospect Point by approving plans to construct a new bus drop-off area west of the campus on Howard Street.

This project will separate school buses from parent drop-off areas, which are located near the front of the school.

Construction is expected to begin this summer and be completed by the start of the school year. Prospect Point Principal Chris Gardea said this project is a welcome addition to the school.

"This has been a safety concern for years," Gardea said. "It will be much safer having the school buses in a separate area."

The project is expected to cost $160,000. The funds for this capital improvement project were made available from the Edison Elementary bonds.

The school district set aside funds to pay for arbitrage rebate on the Edison bond. Per law, the district must pay a rebate to the federal government if it earns more interest on bond proceeds than it spends in interest on the bonds.

"Since interest rates dropped on the invested proceeds, the district is no longer in danger of having to pay the rebate," Chief Financial Officer Pat Johnston said. "We feel this project was good use of these dollars."

These funds must be designated for capital improvement projects and cannot be transferred to the general fund to offset 2009-2010 budget reductions.