SEBASTIAN — Sebastian Charter Junior High will be allowed extra time to close on its $2.5 million loan, the Indian River County School Board decided Tuesday evening. The charter school has until Jan. 30, 2012, to finalize the loan.
Early this summer, the school had secured a charter contract extension of 15 years – but only if the school could finalize its loan contract by Sept. 30.
The loan is necessary to build the school’s approved campus where it currently sits on Wave Street in Sebastian.
“I have absolutely no hesitation,” School Board member Jeff Pegler said of approving the school’s request for more time.
Fellow board member Karen Disney-Brombach, too, supported the request.
“They are such an important part of the fabric of this community,” she said of the charter school located in Sebastian.
Sebastian Charter Junior High Presidents and Board Chair John Rivera told Superintendent Dr. Fran Adams in his letter requesting the extension that he believes the loan will be finalized “long before” the Jan. 30, 2012, date.
Principal Martha McAdams was in the audience during the discussion but was not called upon to speak to the issue.
School Board to discuss extending Sebastian Charter’s loan deadline
Posted – 8:40 a.m. Sept. 27
SEBASTIAN — The Indian River County School Board tonight is expected to discuss extending the deadline Sebastian Charter Junior High School has to secure a $2.5 million loan.
Early this summer, the school had secured a charter contract extension of 15 years – but only if the school could finalize its loan contract by Sept. 30. The loan is necessary to build the school’s approved campus where it currently sits on Wave Street in Sebastian.
Instead of closing on the loan by Sept. 30, Sebastian Charter Junior High President and Chairman of the Board is requesting deadline of Jan. 30, 2012.
“It is anticipated that the loan will be sent to the (School District of Indian River County) and closed long before that date,” Rivera wrote to Superintendent Dr. Fran Adams.
Dr. Adams is recommending approval of the extension to the charter school.
The School Board will meet tonight at 6 p.m. at Sebastian’s City Council Chambers at the request of the Sebastian City Council.
The request was made as a way to help the School Board reach north county residents who might not otherwise attend a School Board meeting.
Last week, the Board of County Commissioners also met at the Sebastian City Council Chambers.