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

luvblues2

It has nothing to do with where you live, Kelly. It has to do with the way the state of Ohio is taking care of it's priorities. The BOE's are finding loopholes in the laws and using back door tactics because they are forced to. This is going to have a domino effect. Watch.

Kelly

It absolutely has to do with where you live. Some of the people on here make it a habit to bash anything Perkins just because it IS Perkins. It's ridiculous.

mrjsiah

This has got to be the joke of the year! Why is it that people from perkins or huron come on here and judge everybody else but when we have a article about them people just want to bash because its them what makes perkins any better? i remeber in a past article someone said the register had something against perkins because of a article

samiam

Just because spending by the federal government is out of control doesn't make it okay or right for the local school districts to do the same thing. If people don't have good paying jobs, there isn't going to be any money to pay the loan or to maintain the new buildings.

luvblues2

From your lips to God's ears, samiam.

samiam

sorry for duplicate posting.

Perkins2060

I love how you say we are armchair quarterbacking what the board and Gunner is doing. How about the board and Gunner armchair quarterbacking on what the voters said on the new school levy???

luvblues2

@Fear. Your post is a contradiction. We don't trust the gov't because we like being kept in the loop. If the gov't wants to use the "back door", the least they could do is give us a "reach around". :)

Wald

This is absolutely right. A levy to build new schools was defeated...twice! That isn't "arm-chair quarterbacking", that is the public going out and casting their votes. Of course, "Dr." Gunner doesn't operate in a democracy...he knows better than everyone else. The defeated levies were a blow to his ego, now he is going to build his new schools come hell or high water. This is just a big f-you to the residents of Perkins. I hope he has fun trying to operate these schools when the new operating levy fails. Of course, then all the threats of cuts to staff, programs, and pay-to-play sports will be bandied about. Just wait and see.

donutshopguy

If I understand this correctly, your taxes will not increase from the building of the school. Exsisting money, already on the tax base, that was moved will fund the construction.

Now the rub. The school system with the new building will have no money to operate this new facility. Operating levies will fail and the school will be forced to cut services and activities.

A brand new school that can't be used.

Perkins2060

Exactly! No future school levy will pass. You can bank on it.

Lil DAB

Just look at all the surrounding communities' financial troubles; 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. No means no.
They believe their financial solution is to TAX us more. Throwing money at problems doesn't make them go away!
http://voteno43410.webs.com/

donutshopguy

"A brand new school that can't be used."

Mr. Gunner needs this building to complete his resume. He never moved here. Never wanted to be part of this community. After the building is complete, he will be off to the brighter lights of a new job and the community will have a brand new school that can't be used due to failed operating fund levies.

Folks, your school board has been sold a bill of goods by a carpetbagger.

EZOB

Fear,
I know you people that continually mention our sports programs just don't "Get-It". It's education that is failing in the US and putting us further behind other countries. Perkins does an excellent job of covering up students grades and "Push" them through the system. State and Federal guidelines have enabled Perkins to graduate inferior students. Yes, we have a lot of very intelligent students at Perkins but make no mistake, there is extreme cover-up concerning students who have failed basic math and English. At least if the school is forced to close, there is a nice football field all can attend if someone volunteers to cut the grass.

donutshopguy

EZOB,

You don't have to cut the grass. It's artificial turf.

But, back to your premise of a cover up. Our educational system has dummied down requirements to obtain a high school diploma. Heck, they have dummied down the requirement to obtain a BA college degree. Both degrees have little or no value to employers when evaluating people for jobs.

It's our job to make the opportunity available not to fix the outcome.

EZOB

Donut Guy,
Have to admit that I was behind the times on the turf. I assumed because of the last statistics I heard that artificial turf causes more injuries to the athletes? But Heck, who really cares about the athletes as long as they win. One out of how many thousand will make a living playing a sport while the rest live out their lives nursing high school injuries. This is more wide-spread than goes reported.

underthebridge

This link allows you to find the preliminary data from the 2012 ODE District Report Card. To their credit, the high school earned an Excellent rating. Unfortunately, both Briar and Meadowlawn were only rated Effective (Furry rating wasn't available). The overall district rating is still Effective.

http://www.dispatch.com/content/...

Common Sense

Re: Sue3251958
FYI - Each student that is openly enrolled brings in the equivalent of a township homeowner's taxes whose property and home is valued at $750,000. Multiple children from one family increases that amount of money coming in to the district.
Are you one of the few who are paying for that rather large property and home? I am certainly not and open enrollment is not the reason for the need of a new school building. Health concerns (asbestos), plumbing, and electrical needs are just ome of the other reasons.
By the way, for those who wish to state that the schools should have done a better job of keeping up with the structures, I am reminded of the fact that my "flood insurance" has more than tripled over the last decade and I will never see a dime of that. That money would be great to keep my home up with, but the government "MANDATES" it. Same things with education. Government mandates it without funds to cover it.

WaterStreetCooncat

Pretty soon they'll be begging for money to keep the new stadium floodlights lit on nights no one is even in it. How ludicrous is that, Perkins?

grewuphere

Very very well said "fear is the mind killer" thanks for the time you took to write the post. Schools make a community. It is a fact. If you do not go to the meetings you can not make judgements. Good for anyone against who does go at least you are first psticipating and listening and then foming your opinion.

luvblues2

So, grewuphere, you advocate the school gov't going behind your back after you voted "no", twice? Why even vote at all?

grewuphere

By the way... When comparing education with other countries you very much forget that wealth and intelligence determines how much schooling you get in most places in the world... Much education stops at lower levels and the chosen go forward. Many places do not mandate the students must attend school through the age of 18 or have action of law taken against them . They do not educate special needs children instead they throw those children into labor situations and our lowest and brightest are averaged into those numbers you use. Don't forget all the variables that go in to our society versus others. Just saying...

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