By Joel Phelps
School board members this week are set to discuss a new elementary campus and a potential land sale tied to the Arkadelphia Bypass.
On Tuesday’s agenda for the Arkadelphia Board of Education’s regular meeting is a project agreement between Arkadelphia Public Schools and the Arkansas Division of Public School Academic Facilities and Transportation.
The scope of the project is an 84,000-square-foot campus to house 350 students in grades K-4. With a total budget of $27.4 million, the state is pledging $4.4 million toward the project, leaving the district to handle the remaining $22.9 million.
The school district plans to use $15 million from bonds, $4.6 million from ESSER funds and $3.3 million from its operational fund to pay for the campus.
Prior to considering the agreement, the school board is expected to vote on a resolution that authorizes the sale of $15 million in bonds at 3.6% interest to FHN Financial Capital Markets, the lowest of four bids. The bonds will mature in 2047.
According to the project agreement, work on the new campus is expected to begin on July 1 and be complete by May 2026.
The school board will also determine whether to sell 7 acres of school district-owned land to the Arkansas State Highway Commission.
The sale, if passed, would yield the land to the upcoming Arkadelphia Bypass project. According to the proposed real estate transaction, unsigned as yet, the appraised value of the acreage for the right-of-way is $41,125.
The land is located south of Elaine Circle.
Tuesday’s meeting begins at 6 p.m. in the upstairs conference room of Dawson Building #3, 700 Clinton St., Arkadelphia. School board meetings are open to the public.