State Announces $191 Million for School Construction Projects
The State Allocation Board (SAB) announced today that it has awarded approximately $191 million for school construction projects throughout the state. These awards are a result of the voters’ approval of Proposition 51 in November 2016 that provided an additional $7 billion to the School Facility Program (SFP).
The SAB awarded approximately $191 million for 90 projects within 63 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, 55 and 51.
The State Allocation Board’s actions today provide cash apportionments for90 school facility projectsacross the state. The Office of Public School Construction will distribute the bond funds to eligible 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 able to apply for advanced funding to purchase sites or begin design work.