The recent $79 million dollar school referendum approved by Grand Forks voters last month may end up costing taxpayers a little less than anticipated.
The Grand Forks School District is looking to apply for additional low interest loan funds through the Bank of North Dakota. The legislature increased the availability of the school construction loan program to $250 million dollars this past session.
If approved the district would target $30 million dollars for construction of the new Valley Middle School – an increase of some $20 million dollars.
Business Manager Brandon Baumbach says the two-percent interest rate will reduce the tax burden for residents and businesses.
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22h ago
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