The Binghamton City School District is inching closer to approving the construction of a new MacArthur Elementary School.

The school on Vestal Avenue on the city's South Side sustained major flood damage in September 2011.

Board of Education members are reviewing the plans for the project, which calls for demolition of the old school and construction of a new facility.

The total cost of the project has been estimated at about $78 million. The school district expects to receive nearly $6.5 million from the Federal Emergency Management Agency to cover some of that expense. Some additional aid would come from the state.

The local cost for the school project now is estimated at $2.9 million. That amount would be financed over thirty years.

If the plan receives final approval from the Board of Education, it would go before district voters for their consideration.

A public hearing may be held on April 8 and a referendum could be scheduled for a week later.

Based on current projections, construction on the school could be accomplished in about twenty months. It might get underway as soon as next January. If things go according to schedule, the project could be completed in August 2015.