The Newport City Council will consider a request for an additional $2.9 million in funding to complete construction of the new Rogers High School at its Nov. 13 meeting.
City Manager Colin Kennedy is recommending the council approve one of three options to cover the funding gap: using $2.9 million in infrastructure bond proceeds, a combination of $918,809 in bond proceeds and $2 million from the general fund balance, or appropriating the full $2.9 million from the general fund balance.
The Newport School Building Committee notified the council on Oct. 11 that it needs $2,918,809 in additional funds to contract the final phase of site work and complete the project.
“This approval will enable a Final Certificate of Occupancy and the completion of the project,” wrote Rebecca Bolan and Louisa Boatwright, co-chairs of the School Building Committee, in a letter to the council.
The committee must contract the last phase of work at its Nov. 18 meeting to avoid subcontractor prices expiring on Dec. 1.
To date, the city has contributed an additional $23.7 million to the high school project, including $14.4 million in bond premium and $9.3 million in general taxpayer funds.
The total project cost has risen to over $125 million, significantly higher than the $98.8 million originally approved by voters in 2020.
Kennedy noted that using general fund balance could impact the city’s AA+ bond rating. He recommended using bond proceeds as the preferred option.
The School Building Committee reported it has secured $2.5 million in grant funding to offset part of the $5.4 million total funding gap identified in October.
“We will continue seeking grant opportunities and look forward to more good news in the future months,” Bolan and Boatwright wrote.
They added that any contingency funds left at the end of the project will be returned to the city.
The new high school is scheduled to open in September 2025. School officials say the additional funding is needed to obtain a final certificate of occupancy and complete the project as designed.
The council previously approved $3 million in additional funding for the project in June, contingent on the School Committee spending down its reserves.
That resolution stated the funding was “to address current and projected shortfalls as reported in the Newport School Building Committee’s correspondence on May 14th.”
The council will consider the latest funding request at its Nov. 13 meeting. If approved, it would bring the city’s total additional contribution to the project to nearly $27 million beyond the original bond amount.
