The Isle of Wight County Board of Supervisors is recommending a $7.9 million loan with a payback from the schools over fourteen years. The funding would cover new Career & Technology programs and spaces for Smithfield and Windsor high schools. $750,000 of the funding the division has been using for tuition at the regional Pruden Center for Industry & Technology will be used to cover the annual payment on the loan. The Supervisors plan to draft a memorandum of understanding between the two boards that outlines the terms of the arrangement. The Supervisors will hold a public hearing during their regular meeting on Thursday, April 20, at 6:00 pm to allow citizen comments on securing the loan. If the loan is approved, the school division will be able to pay its annual obligation with no increase from the Board of Supervisors and no increase in taxes to citizens.
Board of Supervisors Recommends $7.9 million for IWCS CTE Plan