How To Pay For $500 Million In School Building Repairs

Dec 14, 2017

Where does a state find $500 million to fix a long backlog of school building repairs? General obligation bonds, that's where. At least that's the recommendation from Rhode Island's School Building Task Force.

The task force voted this week to endorse a series of proposals, including $500 million in voter-approved bonds by 2022. The first of the bonds could make it onto state ballots as early as next year.

The group, convened by Gov. Gina Raimondo to address an estimated $2.2 billion in needed improvements to public school buildings, also called for statewide policies on school maintenance and measures to limit construction overruns.

The task force is calling the plan a "once-in-a-generation investment" in public schools.