Calhoun County ISD held its regularly scheduled meeting Monday, Sept. 16, at the administrative building’s board room.
The board approved a Chapter 313 Tax Code agreement with Formosa Plastics to develop a polypropylene unit within the school district, according to the media packet.
According to CCISD Superintendent Larry Nichols, the district will receive $2.5 million from Formosa over the next nine years beginning in the 2021-22 school year.
The money the district will receive from Formosa will be in place of taxes, Nichols said.
This agreement will benefit the taxpayers in Calhoun County, and Nichols said the money they’ll receive from Formosa is outside the school finances, and this is money that the district doesn’t have to raise through taxes.
“It is a win, win, and it gives us the opportunity to do great things for our students,” Nichols said.
In other school board news, the board approved the nominations of candidates for the Board of Directors for the Calhoun County Appraisal District for the 2020-21 term.
The next school board meeting is Monday, October 14