5/18/10

On Monday, the Texas Education Agency announced that applications are being accepted until June 30, 2010 for Qualified School Construction Bond (QSCB) program funding.  The QSCB program makes available interest-free or very-low-interest financing of qualified construction projects.  This application cycle will provide funding access to $547,674,000 of which $100,000,000 is reserved exclusively for charter schools.  A portion will also be reserved for large enrollment school districts that were not able to fully use their 2009 allocations.  According to the announcement, qualified use of QSCB funding includes:

• Construction of a public school facility;
• The acquisition of land on which such a facility is to be constructed with part of the proceeds of such issue;
• Rehabilitation of a public school facility; or
• Repair of a public school facility.

To read the TEA announcement and additional information on the QSCB program click on the link below.

http://ritter.tea.state.tx.us/school.finance/facilities/qscb.html