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 Loan for Mt. Airy ES Renovation
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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 replacement at Mt. Airy Elementary School. The loan is issued at a two percent interest rate over 18 years to fund critical improvements for indoor air quality.
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
18-year term, fixed rate at 2% annually; no renewal, loan serviced by Department of the Treasury.
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