The Owensville Community College and the Owensville State Bank will not save any extra money on their water conservation projects.
The Owensville Public Schools District announced Wednesday that they will not be renewing water conservation permits for a proposed new facility that would serve more than 200 students.
The $3.9 million project would add a new indoor pool, a gymnasium and classrooms for approximately 100 students.
However, the school district said in a news release that the facility would not be able to make enough money to cover the costs of its new building.
The project would have added $4.5 million in new property tax revenue and created approximately 150 construction jobs.
The school district says it will be working with community groups to find a solution.
A community member has created a petition urging the school to find another way to cover costs of the project.
The new facility would be located on the Owens River at the corner of Owensville Road and West Jefferson Street.
The Owens Valley Community College, the Owens Valley State Bank and the New Orleans City Public Schools Board of Trustees all own land on the river.
The city and the state have been negotiating with the project’s developer for years.
In May, the state and the developer reached a tentative agreement for a $2.5 billion water conservation project on the site.