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Posted: April 22, 2009

Economic woes force Wake to delay school projects

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Wake County school construction

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Wake County school construction

Raleigh, N.C. — The economic downturn has started to slow school construction in Wake County.

Wake County Public School System officials said Forest Ridge High School would be delayed by one year, Rolesville Middle School by two years and Walnut Creek Elementary School by three years. Renovations at Wilburn Elementary School will be pushed back, also.

Wake County is having trouble selling bonds to fund the projects, officials said. If bond sales increase, the speed of construction would pick back up, officials said.

RELATED TOPICS: Wake County, Rolesville, Walnut Creek, Raleigh, Public Schools

Copyright 2011 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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3 Comments


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LocalYokel - WHAT???? The bond referendem they are refering to is money that is coming into the state system thru taxes. The "guestimate" how much money should be paid in taxes, then figure out how much of that WCPSS needs to build new schools and do renovations. Money for "bonds" aren't there when people don't pay their taxes, tourism dies down, or people vote to NOT increase taxes. The bonds you are refering to are bank bonds. Two different things.
AWakeMom
April 23, 2009 7:09 p.m.
why take out a loan (bond) to build a school? that is bad planning. Government should save the money (drawing interest) until it has enough to pay for what it needs then execute. It will cost less this way but there is no instant gratification (looks like no instant gratification with bond in this case too). Bonds not selling - I wouldn't buy one from a bankrupt government either. At what point did bonds become an acceptable way to pay for infrastructure? This is a demonstration of lack of discipline.
LocalYokel
April 22, 2009 1:21 p.m.
Get used to it. This is going to be a nightmare depression!
Click to view my profile Caveman93
April 22, 2009 1:04 p.m.
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