The Manitowoc Public School District has embarked on a significant journey to enhance its educational facilities. By approving a $14 million loan as part of the broader $25 million referendum authorized last November, the district aims to address pressing infrastructure needs. This financial move was facilitated by Baird Financial Service, which guided the district through the borrowing process. According to Baird representative Michel Clark, the decision to borrow under $15 million allows the district to repay the debt over three years, offering greater flexibility compared to larger loans that require spending within two years.

Concerns about the financial implications were raised during the board meeting. Board Member Chris Able expressed worries regarding the interest payments, noting that the current loan might accumulate substantial interest costs for the district. However, President "Biff" Hansen acknowledged these concerns while emphasizing the importance of balancing immediate facility upgrades with long-term savings programs. Hansen highlighted the necessity of investing in repairs now to avoid higher future expenses on construction projects, underscoring the value of timely action despite potential financial challenges. Additionally, Clark mentioned that the district's strategic planning this year may help mitigate some of the interest burdens.

This initiative marks a crucial step toward modernizing and securing the district’s infrastructure. The $14 million will primarily fund essential maintenance, safety enhancements, and security improvements. Projects planned for the summer include installing a new roof at Lincoln High School, upgrading fire alarm systems, and replacing HVAC units. With another $11 million scheduled for borrowing next April, the district is committed to ensuring safe and functional learning environments for students. Through careful financial management and prioritization, the Manitowoc schools aim to provide an improved educational experience while fostering community confidence in their leadership.