Proposed
Statewide Revolving Loan Fund
Background
While there are pre-development funds (both grants and loans) available for infrastructure, schools are not currently defined as such and therefore are not eligible. Currently, it is not considered politically feasible to add schools to the current funding mechanisms without legislative policy determination that “schools are infrastructure.”
Proposed
The development of a $1,000,000-5,000,000 Revolving Loan Fund is currently under discussion. It would allow a district to capitalize pre-development costs including design, engineering, programming, environmental services and other pre-bond services. Payment mechanisms including deferral and interest only are still in the discussion stage. It is expected that the fund structure and policies will be in a preliminary form and ready for review by the end of the year.
For more information contact ruth@innovationpartnership.org
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