County officials said Wednesday they will cover the $3.4 million cost of the purchase by county school officials of the former David Brainerd School property in East Brainerd.
Officials said it will be covered by the use of commercial paper that will later be repaid through a large bond issue.
Commissioner Joe Graham said the project would be "a perfect fit" for PILOT (payment in lieu of taxes) funds, which the county is holding over the objection of county school officials. But Commissioner Fred Skillern said it would be better to proceed with the commercial paper and hold the PILOT funds for such items as paying for architects to design plans for new schools.
Trustee Bill Hullander said the county received $2.7 million in PILOT funds in February. He said after fees were taken out, the available amount is $2,699,617.39.
County school officials at one time had been discussing having to pay for the David Brainerd School property through the county school rainy day fund.
Gary Waters of the county schools said three additional properties are being eyed for purchasing in rapidly-growing sections of the county. He said the school system wants to move as soon as possible on two of those purchases.
One would be a site for a replacement Ooltewah Elementary School and another a location for a school that would replace Ganns-Middle Valley Elementary and Falling Water Elementary.
Mr. Waters said the plan is to shift some East Brainerd Elementary students to the David Brainerd site this fall to ease severe overcrowding there. He said eventually a new school may be built at David Brainerd.
Commissioner Warren Mackey said he is concerned that new school construction is away from the urban areas. He said there is no urban high school and students there have to travel long distances.
Commissioner Greg Beck said money should be spent on buying property adjacent to Howard High School and building a stadium there. He said Howard's current football field is on a contaminated site.