Virginia Board of Education Agenda First and Final Review of Recommendations Regarding Literary Fund Loan Applications Approval for Release of Loan Funds 2026-06-25
Pittsylvania County Receives $5.7M HVAC/Window School Upgrade Loan
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Description
The Virginia Board of Education approved a Literary Fund loan of $5,687,000 to Pittsylvania County for HVAC and window improvements at Mt. Airy Elementary School, payable over 18 years at a 2% annual interest rate. Funds will assist with improving indoor air quality and renovation of school infrastructure.
Contract Details
Contract Amount
$5,687,000
Vendor
PITTSYLVANIA COUNTY
Agency
Virginia Department of Education, VA
Contract Type
CONSTRUCTION
Document Date
June 20, 2026
Contract Term
18 years
Renewal Date
2044-06-25
Renewal Info
Fixed 18-year loan, two percent annual interest; principal and interest payable per Literary Fund loan terms. No automatic renewal or extension specified.
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