Real Frisco

The Frisco Board approved the hiring of a construction manager at-risk during Monday night’s school board meeting.  The construction manger at-risk will cost $5,000 at this time and will provide the board with a guaranteed maximum price that it will cost to build the new administration building. Once the board received that number they will decide if they want to continue forward with the project construction.  Although there was never a bond package passed that formally included money for a new administration building the district said they have $14 million in bond that could be used in construct such a building.

In other board actions, they approved a Parameter Bond Sale method at last night’s meeting that can start utilizing now. The Parameter Bond Sale would allow that board to pass the sale of bonds before they know the interest rates. The board would set parameter and when the market meets all their requirements the sale would take place. For example the board could say that sometime in the next three months they would like to sell $2 million in bonds with at the lowest possible interest rate.

“It gives optimal flexibility,” Superintendent Rick Reedy said.

The new sales method would allow for there to always be money available when the district is ready to build and it saves them money In the long run.

The other board approvals, they approved the hiring of five new principals and they extended contracts for numerous other positions.