Governor Brown Announces $924 Million for School Construction Projects
Governor Edmund G. Brown Jr. announced today that nearly $924 million has been awarded for shovel-ready school construction projects across the state, representing the largest distribution of school facility funding this year. The state matching funds will help finance 377 school construction projects within 154 school districts and are expected to create more than 18,000 new jobs.
“These funds help our schools build critically needed facilities and stimulate local job growth,” said Governor Brown. “Today’s action will create 100 new construction projects and allow 234 school facilities to be modernized. That is a huge boost for our schools and an economic shot in the arm for their local communities.”
The funds were allocated today by the State Allocation Board (SAB), which uses accelerated funding rules to ensure that state school construction dollars are distributed quickly to benefit school districts and local communities. The monies were distributed to districts that have construction projects that can have local matching funds in hand – usually 50 percent - and at least half of the construction contracts in place within 90 days.
Prior to the approval of the accelerated Priorities in School Construction Funding rules in 2010, the SAB awarded funds based on the receipt date of complete funding applications; essentially on a first in, first out basis. Each approved project had up to 18 months to request release of the State funds, often times holding up state dollars from being allocated to a school district that was ready to begin construction sooner.
The SAB also took action today to reserve an additional $46.2 million for charter school facilities projects; these funds are anticipated to be released by May 2012. Funding for all of today’s apportionments was made available as a result of a recent State bond sale.