SCHOOL ADDITION UNDER WAY

CHAFFEE - Chaffee school board members broke ground Thursday evening for a 14,051 square-foot addition to the east end of the high school.

The contract on the $778,163 project by Bridger Construction Co. of Sikeston has a time limit of 240 days. Excavation work is expected to begin Monday.

The addition will provide classroom space for computers, business and technology classes, home economics and a band room. A large shop area for industrial arts, offices and restrooms are included.

The addition will allow the school district to close its old arts building.

"This is the completion of the third phase of a building program that we have been working on for several years," said Bob Sullivan, school board president. "We're extremely fortunate to be in a position to proceed. Past and present board members and administrators have spent a lot of time to get this far. We're happy to see this project begin."

The school district is paying for the project through a $725,000 lease-purchase plan, which was approved late last year. Construction costs above that amount will be paid from the current operating budget.

The payback period on the lease-purchase agreement is 10 years. The interest rate varies from 3.25 to 5.25 percent with the average around 4.62 percent. The average payment over the 10 years will amount to around $91,000.