On December 11th, 2012 Dracut will be holding a special election to pass the Greater Lowell Technical High School Repair / Renovation & Addition Project. If we get a yes vote then Dracut is agreeing to pay for their portion of the project, $3,124,909.00 before interest. This $65,000,000.00 project will have a State contribution of approximately 50,088,316.00 (76.84%). If this doesn’t pass then Dracut will be required to fund the their portion of the Critical Needs repairs. The cost of that is $31,956,000.00 - 20.79% (Dracut’s share) = $6,391,200.00 before interest. As you can see, we really only have one reasonable option.
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