
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, March 14, 1991                   TAG: 9103150748
SECTION: NEIGHBORS                    PAGE: S-2   EDITION: METRO 
SOURCE: Joel Turner
DATELINE:                                 LENGTH: Short

COUNCIL OKS BOARD REQUEST FOR RENOVATION

Roanoke City Council has agreed to allow the School Board to apply for a $2.5 million loan from the State Literary Fund to pay for the renovation of Forest Park Elementary School.

School officials estimated five years ago that it would cost $8.6 million to renovate seven elementary schools; they now say it will cost $15.2 million.

Richard Kelley, executive for business affairs for schools, said the age and condition of the schools have hidden "structural deficiencies" that caused the estimated cost to nearly double since 1986.

Council, last month, delayed action on the board's request for approval to submit a loan application for Forest Park until school officials could provide updated cost estimates.

Kelley said recently that the cost for Highland Park and Oakland schools, which have been completed, and Crystal Spring, closed this year, has been $7.3 million. Renovations at Forest Park, Morningside, Virginia Heights and Wasena are expected to cost $7.9 million.

Kelley said the board expects to borrow about $9.5 million from the state Literary Fund. Financing the improvements with literary loans is cheaper for city taxpayers than a bond issue because the interest rates on the loans are lower than those on bonds.

by CNB