CHRISTIE ANNOUNCES SCHOOL CONSTRUCTION FUNDING

gov_christieGovernor Christie announced that schools construction projects in school districts across New Jersey will soon begin to receive funding for projects following approval for the sale of $500 million in new bonds by the Board of Directors for the New Jersey Economic Development Authority. The New Jersey Schools Development Authority (SDA) will use proceeds from the bonds toward school facilities projects in SDA Districts and continue the SDA grant program for Regular Operating Districts (RODs). These state-funded ROD grants represent at least 40 percent of costs for projects in non-Abbott districts, addressing health and safety issues, student overcrowding and other critical needs. Local districts fund the remainder. Since its 2001 inception, New Jersey’s school construction program has completed 618 projects in SDA Districts.

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