Thursday, December 16, 1999
Bonds may allow for school renovations
BY ANDREA TORTORA
The Cincinnati Enquirer
FLORENCE — Boone County Schools officials hope to take advantage of a federal program that would allow for renovations at three schools while saving taxpayers $1.2 million.
The district, in partnership with the Boone County Education Foundation, county government, the Florence Rotary and state legislators, will announce plans Monday.
Superintendent Bryan Blavatt said Wednesday the district had applied for Qualified Zone Academy status from the state.
That status means schools can issue Qualified Zone Academy Bonds. Created when Congress passed the Taxpayer Relief Act of 1997, these bonds are like no-interest loans.
“Our concern is, while we are doing all of this new construction for the growth, what about the older buildings?” Dr. Blavatt said. “This will allow us to move forward on all of those projects we need to get done.”
Renovations would be done at Boone County High School and Burlington and Florence elementary schools.
The district is building NorthPointe Elementary School in Hebron. Erpenbeck Elementary School in Florence opened in fall 1998. And projections indicate the need for a third new elementary school within a few years.
Meanwhile, older buildings need repairs and renovations.
Qualified Zone Academy bonds are designed to strengthen schools serving large concentrations of low-income families. The federal government subsidizes the 15-year bonds with tax credits.
Kentucky has $13.5 million in its Qualified Zone Academy program. The federal government allocated $400 million for the program for 1999.
There are certain things a district needs to do to qualify:
• Schools must have an education partnership with a business. The business must make a contribution worth 10 percent of the proceeds of the bond. Contributions can be school equipment, technical assistance and training, volunteer mentors and internships for students.
• Schools must be located in an empowerment zone or have at least 35 percent of students eligible for free and reduced lunch.
Proceeds from the bonds cannot be used for new construction.
They can be used for renovating buildings, developing courses of study, purchasing equipment and training personnel.
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