Real Estate

Different Ways to Fund School Construction

When a county school system decides that they need to build a new school or renovate an existing school, many steps are involved. First of all, the funds need to be arranged. More times than not, the funds are arranged through a local special option sales tax called SPLOST. Using this method to acquire funds, the cost of the new school or the school renovation can be spread out amongst consumer spending within the county.

Another funding method is for the school system, through their Board of Education, to borrow the money through the homeowners in the county building or renovating the school, By issuing a bond.

A bond essentially increases the property taxes For the property owners in the county for a temporary period of time. Since a bond increases the property taxes for the voters in that county, it must be voted on through a local referendum. Additionally, if the state agrees to cover some of the funding, It must be approved By the state.

Once the funding has been arranged and approved, the next step is usually for the school system to hire an architect. The architect will work In conjunction with the county facilities department and the various department coordinators. For instance, the school nutrition director will be involved in the design of the kitchen.

Once the school system and the architect have finalized the design, a school contractor Sacramento CA must become involved. The school contractor can either be hired by the county school system as a design/build construction manager, or the school contractor can be awarded the project through a bid process.

Generally, the lowest bidder becomes the contractor and operates as a general contractor.

Finally, the school contractor will build or renovate the school using the design specifications and drawings by performing the work themselves or hiring specialized subcontractors.

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