An update on Moss Field
We are excited to share some updates regarding the Moss Field project, made possible by your continued support and the successful passing of Proposition S.
Construction on Moss Field is scheduled to begin in September and we anticipate the project being completed prior to the 2024-25 school year.
Funding for this project has been planned based on detailed estimates and projections. However, as we progressed with the planning, it became clear that the project was going to exceed the original estimate. To help offset the majority of these costs, the Webster Groves School District Foundation got involved early on, playing a crucial role in continuing to secure additional funding for the project.
In addition, favorable bond market conditions and the district's strong financial position have enabled the district to secure extra funds for projects through re-offering premiums obtained from bond sales The proceeds from these bonds have been strategically invested to maximize their earnings. The combination of these strategies creates a contingency fund of $4.2 million to cover Prop S projects. The fund serves as a contingency to address any rising costs due to inflation or other unforeseen circumstances.
When completed, the stadium will boast an eight lane track, turf field, concession stands, locker rooms and restrooms, concrete seating, a video scoreboard and a "Champions Deck" to further elevate the overall experience for our students, staff and community.
We cannot express enough gratitude to each and every one of you for your support in passing Proposition S, which made this project a reality.
Thank you once again for your support and partnership with our school community.