POLAND — Regional School Unit 16 directors Monday unanimously approved a master lease agreement, not to exceed $10.2 million, to finance updates for the heating, ventilation and air conditioning projects at Regional School Unit 16 elementary schools in Mechanic Falls, Minot and Poland. 

Board Chairwoman Mary Martin said Tuesday that such agreements are through a bank and are only for energy projects.

Stacie Field, RSU 16 business administrator/manager, explained the agreement can be broken into separate projects, such as the Minot Consolidated School the first year, followed by Elm Street School in Mechanic Falls and Poland Community School the next.

Field said the school district would only pay interest on the amount used, while the balance in the bank draws interest.

RSU 16 will send bid requests to banking institutions.

Poland Director Emily Rinchich said the towns have told us to be “financially responsible” and this is the direction to follow.

Mechanic Falls Director Jessica Smith, chairwoman of the operations subcommittee, said after contractors are hired, work on Minot Consolidated and half of Elm Street School would probably begin in the summer of 2025, with the second half of Elm Street and Poland Community schools continuing in 2026.

Directors also approved the purchase of a generator for Minot Consolidated School from Northlight Electric for $88,662.

Funds will come from the Elementary and Secondary School Emergency Relief funds, which were distributed by the U.S. Department of Education “to address diverse needs arising from or exacerbated by the COVID-19 pandemic.”