The Gloucester County School Board voted 5-0 Tuesday to commit its support for a $10.3 million construction project at the Woodside Lane campus of the New Horizons Regional Education Center (NHREC) in Newport News. Board member Troy Andersen and vice chairman Kevin Smith were absent from the meeting at Gloucester High School.
The new 52,000-square-foot facility at New Horizons will house special education classrooms, which are now in deteriorating modular units. Approximately 250 special needs students attend programs on the campus.
Under the proposed finance structure for the construction project, NHREC will lease the property to the New Horizons Education Foundation Inc., a limited liability corporation that will be established to finance and construct the facility. The LLC will develop a facility lease with the Newport News Economic Development Authority that will allow it to borrow funds for the project.
The EDA will in turn sublease the facility to NHREC and at the end of ...
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