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Boscola Announces $18,200,000 in Funding for Local School Districts
On May 20, 2011 ·
BETHLEHEM (JUNE 3) – State Senator Lisa Boscola is pleased to announce today that two Monroe County School Districts have been awarded funding through the federal Qualified School Construction Bond Program (QSCB) which was authorized through the American Recovery and Reinvestment Tax Act. The Stroudsburg Area School District has been awarded $17,000,000 and the East Stroudsburg Area School District has been awarded $1,220,000.
“These school construction bonds provide low-interest borrowing to school districts in order to maintain and upgrade existing schools, as well as help build new schools,” Boscola said. “The projects funded help create jobs and provide our students with the best facilities available – it is a win-win for all communities within the Commonwealth.”
The U. S. Department of Treasury has authorized the allocation of QSCB authority to the Commonwealth of Pennsylvania. The Pennsylvania Department of Education will administer the programs and make allocations to school districts that meet qualifying criteria. Allocations have been awarded on a competitive basis and the bonds will be issued through a state authority.
Boscola praised federal, state and local officials and employees for working together to make this program a success.
“The approval of these projects is an example of how the combined efforts of federal, state and local officials can have a tremendous positive impact on communities, not only in Pennsylvania, but across the nation,” she said.
Another application round for the QSBC program will be opening shortly.
For more information about the QSBC program, please contact Senator Boscola’s Office at (877) 535-1818.
# # #
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