The Syracuse Common Council approved a larger budget for Syracuse's STEAM school focusing on science, technology, engineering, arts and math.
The initial proposed budget was $74 million in 2019. Now, after the pandemic, costs are estimated at $89 million. Total costs would reach $122 million coming from interest payments of borrowing costs over the next 15 years.
Syracuse City School District Superintendent Anthony Davis said he doesn’t anticipate the district defaulting on paying back the bonds.
“I do think it's important to note that the 2.6, 2.7 million that it would be per year is less than 1% of our budget," Davis said. "So we don't feel there's any problem meeting that obligation.”
Councilor Rita Paniagua, who chairs the Education Committee, said approving the funding is a significant step forward to the STEAM School Opening. The STEAM School will serve 250 students per class, with 150 students in each class from Syracuse City School District. It will start with just a freshman class and add a class each year.
“It brings together community," Paniagua said. "It brings together people from other other side of the county, you know, to have one experience as a team. And I think that it's a building block for our children and our community in general.”
The school aims to open in the fall of 2025.
