Perkins schools borrow $3.6M for building project

Perkins Schools is taking out a $3.6 million loan from Citizens Bank to move ahead with plans for a new school for grades 7-12.
Tom Jackson
Oct 16, 2012

The new building will sit near the existing high school.

The lease-purchase agreement, which uses school buildings for collateral, is a common vehicle for school finance in Ohio. It provides the school district with cash flow to let it move forward with its building plans, district superintendent Jim Gunner said.

The interest rate on the five-year loan is 2.79 percent, with no penalty for early repayment, said Lisa Crescimano, Perkins Schools treasurer.

To keep reading this story, pick up a copy of Tuesday's Register.

Comments

tradition

I'm confused. A couple of years back they wanted a bond issue passed so that they could get matching funds from the State. Now, they have the ability to come up with $30-40 million in the next few years without the State's help? But, they need operations money to run the schools? The math escapes me. Maybe it's that new math!!

Licorice Schtick

Close four schools in Sandusky, build new one a few miles away in Perkins. Whatta waste.

donutshopguy

The school board move money from outside millage to inside millage to support this building project. It was well within their legal responsibility to make this change and it happened months, if not a year, ago.

The only catch is that those operating funds must be replaced. Thus, taxpayers should expect a new operating levy on an upcoming ballot.

The school is going to be built whether the new operating funds are approved or not.

Perkins2060

That levy will fail big time! We need to replace this existing school board with those that will get rid of Gunner and all of his paid consultants with him! We voted NO on the new school and these people have the nerve to go against our vote and do it anyway???

juggalo7

i agree big time. I'm a high school grad from Perkins and the school was in bad shape.. Just redo the buildings. If they are going to redo the gym floor in the high school so many times, whats the point of building a new school?

donutshopguy

Perkins2060,

The school board found a way to build the school, within their scope of authority, without a vote by the general public. I'm not sure I agree with the process but it was legal.

samiam

Just because it's legal doesn't make it right. The voters said NO at least 2 times. That makes it a tax that we don't get to vote on. The BOE has basically thumbed their noses at the voters saying they don't care what the voters want and that the board knows better than the voters. I vote NO on any new school levy. Tell Gunner "You're FIRED!"

Lil DAB

Doesn't take Einstein to look at all the surrounding communities and the financial trouble they are in after tearing down old schools and building new ones! Every election the school administration uses their employees and our kids to "grief" us to pass a levy. We are fed up. No means no. They don't listen. The answer always seems to be to TAX us more. Throwing money at problems doesn't make them go away!
http://voteno43410.webs.com/

myname

I won't vote yes on any school levy as long as there is open enrollment.

real talk

open enrollment brings more money into the schools.

Perkins2060

The money brought in from open enrollment doesn't cover what it costs to educate these out of district kids. We taxpayers in Perkins are making up the difference of what it costs to educate these kids from other districts. Levy will fail.

tradition

It seems that those in power at Perkins can do anything they want without voter approval. They were short on the money to build the new stadium so they used $1.3 million from school funds to make that happen. Now they really want that new building, so one way or another they are going to get it. Maybe, it's all that money that they are making off the Sandusky kids that go to Perkins!

myname

This is not fair to the residents of Sandusky who have to keep putting levy's on their ballots to make up for the budget shortfall that Perkins is causing. I live in Perkins, but feel sorry for those in Sandusky that are paying for their kids to go to Perkins. It's not fair for boths sides of Perkins Ave.

Kelly

How is it not fair to Sandusky? You do realize that Sandusky ALSO has open enrollment, right? So, it's ok for them to allow students from other districts but Perkins shouldn't be allowed to do it?

sue3251958

Sandusky only started open enrollment after Perkins. Open enrollment is wrong, it is using children for the money they generate. Pass a levy and generate the funds needed to run Perkins Schools. Perkins doesn't care about their open enrollment students, just the money they generate.

Kelly

Sandusky had open enrollment first

donutshopguy

tradition,

I believe the school loaned the booster club some money. I believe a large portion of the private donations made to build the stadium facility are to be paid over a five year period. The booster club borrowed the money from the school rather than a bank.

Perkins2060

Donutshop: do you know how many paid consultants Gunner has and who they are and how much we are paying them? I'm curious.

donutshopguy

Perkins2060,

Nope. Worked with the stadium committee to build the facility. Also, met with Mr. Gunner when the issue of moving millage was first discussed to understand the process and situation.

Erie Countian

I really do think a new high school is needed...it's BAD, but it seems to me Briar Middle School could just be updated. Although I'm kind of glad a new high school is in the works, I feel Supt. Gunner has lost the community's trust with this juggling act he is doing with the money. I doubt a levy will ever pass until he is gone. He doesn't even reside here, which is disgusting. He lied and said he and his family would be moving to Perkins way back when he took the job here. That never happened. He seems like a crooked, conniving type of person.

Erie Countian

I really do think a new high school is needed...it's BAD, but it seems to me Briar Middle School could just be updated. Although I'm kind of glad a new high school is in the works, I feel Supt. Gunner has lost the community's trust with this juggling act he is doing with the money. I doubt a levy will ever pass until he is gone. He doesn't even reside here, which is disgusting. He lied and said he and his family would be moving to Perkins way back when he took the job here. That never happened. He seems like a crooked, conniving type of person.

Erie Countian

sorry for the double post

Perkins2060

Gunner is holding the district back.

underthebridge

Oh no Perkins2060, the BOE thinks Gunner is a visionary. Just ask him.

Perkins Resident

My wife and I will be voting no on the levy.

reese

This is just plain and simple the wrong way to treat the taxpayers of Perkins. This is our school district, not Gunner's. The school board needs to fire Gunner or we need to fire the school board. All the Perkins Athletic Boosters probably are happy with Gunner and the board for helping them out with the stadium, but wait til the Levy they are planning fails and Gunner starts cutting sports, transportation and extra-curricular activities to pressure the public to pass a levy! He needs to go!!!

HoMeMaKeR2005

I just wanna say that my daughter attends Perkins schools on open enrollment. we live in Sandusky . I am a Perkins graduate, went there all my life. just because I live in Sandusky I do not look at my child as a Sandusky school district student, because she deserves more than what Sandusky city schools offer. I look at her as a Perkins student and would love her to continue to be one , even if that means I'm not moving back to Perkins for awhile due to finances. I think she receives a great education as we all did, and her father and I don't want to subject her to Sandusky schools. the hole open enrollment thing I agree with, it gives parents the option to give there children the education they want for there children . however, I do not agree with this new school,never have. I do not feel that seventh graders should be in with older kids or be involved in what the frosh-seniors wait so long for and work hard to get to. and 3.6 mill and going against the voters that pay taxes in Perkins township? total disrespect!

sue3251958

Why not move to Perkins and pay your share of taxes!

lifetimeresident

I thought the vote was NO for a new school. How is this happening and why.

moonbeam

If I remember correctly if Perkins operating monies go below the 20 mill floor aren' t taxes automatically assessed whether a levy passes or fails? I feel bad for you guys because it isn't fair not to have a say how monies are spent in your school system. Open enrollment also isn' t fair. I will be voting for the Sandusky levy because our school system has been as fiscally responsible as they could be with losing so many students. I was one of those people who said they wouldn' t approve a levy because of open enrollment but times have changed.

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