The Edison Township Board of Education has issued a Request for Proposals (RFP) for a lease-purchase financing arrangement to fund additions and improvements to John Marshall Elementary School. The project is estimated to cost up to $36 million and will include renovations, alterations, new construction, and the acquisition of furnishings and equipment.
The Board is looking for a financing entity to act as a lessor in a lease-purchase agreement with a term not exceeding five years. The chosen entity will provide the financing for the project and will enter into a ground lease and lease-purchase agreement with the Board.
Interested parties can obtain proposal specifications and additional information from Jennifer Edwards at Acacia Financial Group, Inc. Proposals must be submitted by 1:00 p.m. on Tuesday, October 1, 2024, to Jonathan Toth, Business Administrator/Board Secretary, at the Board’s office.
The Board reserves the right to accept or reject any or all proposals and to award the proposal to the entity offering the most beneficial terms. The transaction is being undertaken in accordance with New Jersey state laws and regulations.
Key Information:
- Project: Additions and improvements to John Marshall Elementary School
- Estimated Cost: Up to $36 million
- Financing: Lease-purchase agreement, term not exceeding 5 years
- Proposal Deadline: Tuesday, October 1, 2024, at 1:00 p.m.
- Contact: Jennifer Edwards (Acacia Financial Group) for proposal specifications
- Submit Proposals To: Jonathan Toth, Business Administrator/Board Secretary
This project represents a significant investment in the educational facilities of Edison Township and will provide enhanced learning environments for students at John Marshall Elementary School.
