VIENNA - Locally operated Cafaro Foundation has approved a $300,000 gift to the Mathews Local School District to help provide a local match for school facility construction.
The district, seeking to replace aging buildings, has been approved for an Ohio Facilities Construction Commission grant to provide 19 percent of the projected cost of a new K-12 school building. If accepted, the district would be responsible for raising the remaining necessary funds, estimated at roughly $25 million, a Cafaro Foundation spokesman said.
"The gift from the Cafaro Foundation is intended to help meet that 'local match' requirement. It is hoped that a voter-approved bond issue would finance the remainder of the local obligation," Cafaro Foundation said in a media statement released Monday.
"Educators in the Mathews Schools have done a tremendous job of providing quality instruction but they're struggling with antiquated buildings that haven't kept up with their needs," said Foundation Trustee William A. Cafaro. "We want to do what we can to help create modern facilities like surrounding districts, and to encourage the community to get behind that effort."
Superintendent Lew Lowery expressed his gratitude.
"Their generosity is but one symbol of their commitment to the Mahoning Valley. Hopefully, their donation will prove to be a springboard into a successful bond campaign this spring," Lowery said.
There is no bond issue seeking local funds for Mathews appearing on next week's ballot. Two school renewal issues do appear, however.
The Cafaro Foundation is a charitable entity established by the Cafaro family in memory of company founder William M. Cafaro. Since its inception in 1996, the foundation has awarded millions of dollars in grants.