SAN ANTONIO - A new company has stepped in to oversee the financial future of the construction on two new North East ISD elementary schools and promises the schools will be ready for students in December.
Safeco Bonding Company looked at the construction projects on Vineyard Ranch and Las Lomas elementary schools, and agreed to have the schools ready on December 7. In exchange, the amount Safeco would pay per day to NEISD because the buildings took longer than promised was decreased from $2,500 per day, per project to $1,250.
"This is not something I was in favor of doing. None of us wanted to make this concession; however, Safeco would not give NEISD a new completion date unless the district agreed to work with them on liquidated damages," said Dr. Brian Gottardy, Superintendent of Schools.
Gottardy said he was afraid the projects would get even further behind and the schools wouldn't be ready for the entire school year.
If the schools are not ready by December 7, Safeco will have to pay the original amount of $2,500 per day per project from the original completion dates of July 17 and July 19 to NEISD.
Copyright 2012 by KSAT.com All rights reserved. This material may not be published, broadcast, rewritten or redistributed.