- Created on Wednesday, 20 August 2014 19:31
- Written by IVN
Sacramento, California - The State Allocation Board (SAB) announced today that it has awarded approximately $193.9 million for school construction projects throughout the state.
The SAB awarded approximately $100.5 million for 34 School Facility Program (SFP) projects within 21 school districts statewide. The state matching funds for SFP projects are distributed to local school districts to help finance shovel-ready school construction projects or reimburse districts for projects already completed using local funds. State funding for SFP projects is provided by bonds authorized under Propositions 1A, 1D, 47, and 55.
In addition, the SAB has awarded approximately $93.4 million for 489 Emergency Repair Program (ERP) projects within 53 school districts. The ERP provides grant and/or reimbursement funding to school districts for the cost of repairing or replacing existing building systems or structural components that are broken or not functioning properly and which pose a health and safety threat to students and staff at eligible school sites. The ERP funds will be released automatically and should be deposited into district accounts within five weeks of today’s meeting. The 2014-15 California Budget provided $188.5 million to fund ERP projects. The Office of Public School Construction expects the remaining amount to become available as early as October. Additional projects will be presented at a future SAB meeting once funds are available.
"The State Allocation Board’s actions today provide cash apportionments for 523 school facility projects across the state," said SAB Chair Eraina Ortega, who also serves as Chief Deputy Director, Policy at the California Department of Finance. "The Office of Public School Construction will distribute the bond funds to school districts within 90 days so local school construction projects can move forward as quickly as possible."
The SAB’s accelerated funding rules permit participating school districts with approved School Facility Program projects to submit advance certifications that they will meet requirements for fund release within 90 days of receiving an apportionment. These requirements include having local matching funds, usually 50 percent of the total project cost, in hand, and construction contracts in place for at least half of the work. School districts in financial hardship are also able to compete for priority-ordered funding to purchase sites or begin design work.