Review &

INDEPENDENT SCHOOL DISTRICT NO. 831
DESCRIPTION OF PROPOSED SCHOOL PROJECT
Forest Lake Public Schools proposes the purchase of the City of Forest Lake-owned and Forest Lake Area Athletic Association (FLAAA)-operated Sports Center and Ice Arena. The total estimated cost of the facility acquisition, including financing costs, is $3,000,000. The district proposes to fund the facility acquisition with a lease purchase agreement as authorized under Minn. Stat. 465.71. The lease purchase payments are not eligible for levy authority and will be funded by existing operating capital funds.
The district believes that revenues derived from facility operations will generate $300,000 of net operating income annually. In addition, the district will eliminate the annual $75,000 levy for the lease of Sports Center and Ice Arena beginning on the Payable 2014 levy. The school board believes that the proposed acquisition is in the best interest of the district.
REVIEW AND COMMENT STATEMENT
Based upon statements from the school district and other pertinent information from sources of the Minnesota Department of Education, the Commissioner of Education provides a positive review and comment.
ADDITIONAL INFORMATION IS AVAILABLE
Persons desiring additional information regarding this proposal should contact the school district superintendents office.
/s/ Dr. Brenda Cassellius
Commissioner
October 25, 2013
Published in the
Forest Lake Times
November 7, 2013
47347

Comments Closed

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