SALISBURY, Md.- Plans to rebuild a Wicomico County school may come to a pause.
Funding had been approved by the Wicomico County Council and from the state of Maryland to renovate Fruitland Primary. However County Executive Julie Giordano says the county would have to use bonds to pay for the project, which with current interest rates, would not be ‘fiscally responsible’.
Giordano’s finance director Pam Oland told the council it is best to pause the project.
“I’m not looking to take $20 million for one project that would be a borrowing that goes against the debt ceiling against the current interest rates of over 5% , somewhere between four and 5% is what we would be able to borrow this at,” said Oland.
However, County Council President John Cannon argues that any money saved from waiting for lower interest rates will be canceled by rising construction costs down the road.
“Whatever you may have saved in interest rates, you’re probably going to lose in increased expenses,” said Cannon.
Giordano tells WBOC “It’s not that projects are more pressing, but we have a lot of departments who all have needs”.
Oland suggested the council invest in its current infrastructure.
“We historically, as a county, put off maintenance and put off renovating every other department. There’s a reason why the roof is 50 years old at the Civic Center Center,” said Oland.
Cannon says Fruitland Primary should be a top priority because the county and state already committed millions of dollars to the project. Cannon worries the state could pull out of the project if it is delayed.
“I don’t see how the state of Maryland is really going to allow us to put it off for two years. I think the train has already left the station when you’ve got a multimillion dollar commitment,” said Cannon.
WBOC reached out to the Wicomico County School District for their thoughts on the potential pause in the project but have not heard back.