City Council

Agenda — 1 item

1. The Committee on Finance to whom was referred an order That the City appropriate the amount of Twelve Million Nine Hundred Forty-Five Thousand Six Hundred Ninety-Seven Dollars ($12,945,697) for the purpose of paying costs of a replacement of the Holyoke High School Roof, located at 500 Beech St, Holyoke, MA 01040. This replacement consists of the removal of existing EPDM roof and installing 168,000 SF of PVC membrane during the summer of 2026, including the payment of all costs incidental or related thereto (the “Project”), which proposed repair project would materially extend the useful life of the school and preserve an asset that otherwise is capable of supporting the required educational program, and for which the City may be eligible for a grant from the Massachusetts School Building Authority (“MSBA”), said amount to be expended under the direction of Mayor Joshua Garcia.To meet this appropriation the Treasurer, with the approval of the Mayor, is authorized to borrow said amount under M.G.L. Chapter 44 or pursuant to any other enabling authority. The City acknowledges that the MSBA’s grant program is a non-entitlement, discretionary program based on need, as determined by the MSBA, and any project costs the City incurs in excess of any grant approved by and received from the MSBA shall be the sole responsibility of the City; provided that any grant that the City may receive from the MSBA for the Project shall not exceed the lesser of (1) eighty percent (80%) of eligible, approved project costs, as determined by the MSBA, or (2) the total maximum grant amount determined by the MSBA; and that the amount of borrowing authorized pursuant to this vote shall be reduced by any grant amount set forth in the Project Funding Agreement that may be executed between the City and the MSBA.FURTHER ORDERED: That the Treasurer is authorized to file an application to qualify under Chapter 44A of the General Laws any and all of the bonds or notes authorized to be issued pursuant to this Order, and to provide such information and execute such documents as may be required for such purposes.FURTHER ORDERED: That there shall be no change in the purpose of this bond authorization without prior vote of approval by the Holyoke City CouncilRecommended that the order be adopted.

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