A Message from the Board of Education About Fernway School
October 5, 2018—The Board of Education pledged Thursday to supplement money from a projected insurance settlement of nearly $14.6 million to rebuild Fernway Elementary School with additional funds totaling approximately $2 million. The additional funds would be used to upgrade and enhance the building, which was damaged by fire July 10.
The funds would come from multiple resources, including money previously earmarked for Fernway from the May 2017 $30 million bond proceeds, and private donations raised through the Shaker Schools Foundation. With this approach, the Board balances its commitment to rebuild Fernway school with its duty to provide responsible fiscal stewardship over tax dollars.
Estimates project that insurance will cover the cost of replacing the school and its contents, as well as bringing it up to code so that it is in compliance with ADA regulations. Estimates for an additional package of enhancements, such as expanded program space, air conditioning and expanded parking and play space, range from $4.5 million to $5.7 million. The board instructed its architects and contractors to develop a package of enhancements totaling approximately $2 million. Those estimates are expected to be presented to the Board at its October 9 meeting.