Storm damage $12 million, monthly rental cost $25K for TSC

TIPPECANOE COUNTY, Ind. (WLFI) – The financial hit for the tornadoes that damaged a pair of Tippecanoe School Corporation buildings is becoming a little more clear.

The preliminary estimate for the damage to Southwestern Middle and Mintonye Elementary schools is $12 million. However, some good news is that Southwestern’s gym remains structurally sound.

The TSC school board approved an agreement Wednesday night with First Assembly Community Ministries for the use of its facilities. Insurance will reimburse the district for the $5 a square foot annual price to use almost 60,000 square feet at First Assembly. That divides out to about $25,000 a month, plus utilities. It’s a price that TSC Chief Financial Officer Kim Fox said compares well to the going rate on the market.

“We really felt that it was a perfect fit for the church to receive our students and it has worked out very well. They have been extremely accommodating,” said Fox.

The board also approved preliminary plans and financial arrangements for classroom additions at Burnett Creek and Woodland Elementary schools Wednesday. Plans call for both schools to get 12 additional classrooms and some interior redesigns at a cost of about $10 million each.

The board also authorized hearings for three new bonds valued at $1.9 million each for mechanical and roofing projects around the district.

Finally, they learned there is now $9 million in the general fund budget, after the district was able to bank $2.8 million last year, the product of budget reductions from 2010 and additional funding from the state.

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