The Panther Valley School District wants to prepare a multiyear plan to chip away at capital projects which need to be done.

The district is also seeking multiple grants to move forward on projects, such as a new elementary school which a feasibility study earlier this year determined was needed to replace its current building.

The district needs alternative funding solutions, as the school board said it will not place any additional burden on taxpayers.

On Wednesday, representatives from Raymond James Public Finance discussed a strategy to borrow funds ahead of its capital projects at 4.5% and invest the funds at between 5% and 5.5%.

The interest earned would provide the district with funds it could use for the match on some of the grants that require one, and the loan would be structured to allow the district to pay back funds at any time without penalty, said Scott Kramer, managing director at Raymond James.

The board did not formally vote on the strategy, but gave an informal go-ahead to the firm to start.

Board member Michael Alabovitz went over a list of capital projects compiled by Jesse Walck, business manager, and Scott Fisher, maintenance supervisor.

Some projects were identified in the feasibility study, while others were already on the district’s radar, he said.

Many of the items, Alabovitz said, should stay on the list in perpetuity, as these items have a limited life span.

“As far as the elementary school goes, I’m not willing to spend a nickel on the place, unless we absolutely have to,” he said. “We’re looking to, at some point, build a new elementary school. We’re not going to put money into the one that’s there.”

The district would be looking at only doing emergency repairs to the elementary, as it works toward funding a new one, he said.

The intermediate school, as a relatively new building, doesn’t need much, Alabovitz said, but the high school has a much longer list, which the district hopes to do through grants and long-term planning.

Some items are cosmetic, while others have deeper issues. Walck said a movable wall on the list is a matter of functionality, while the auditorium stage and curtains need to be replaced. The floor is actually wavy, he said.

The board also discussed electrical work in the auditorium, which also needs lighting and sound upgrades. Superintendent David McAndrew Jr. said that he’s been searching for grants under the arts, but has yet to find one.

The board is also looking at grants for heating, ventilation and air conditioning units, as well as electrical work, Walck said.

Paving is also being looked at for the road behind the high school, the administration parking area and the stadium parking lot, he said. The district also believes it’s come to an agreement on how to approach sidewalks at the stadium as well, Walck said.

Walck asked the board to review the list and come to a consensus on what needs to be replaced.

“I would like to get to the point where we don’t just have a one-year budget. We have a five-year budget,” he said. “Part of that is putting the capital plan in place so I know exactly how much money we should be putting aside for capital planning each year.”