Virginia Governor Kaine Announces $119 Million in Bonds for School Construction

ARRA bonds to fund energy efficiency improvements and renewable energy installations at public schools

October 14, 2009 -- FREDERICKSBURG -- Virginia Governor Timothy M. Kaine today announced the availability of $119 million in American Recovery and Reinvestment Act (ARRA) bond authorizations for local school divisions to finance energy efficiency improvements and renovations, as well as renewable energy projects for public school buildings.

Article continues below...

Projects will be financed through the Qualified School Construction Bond program (QSCB), and will be selected through a competitive evaluation process. Eligible projects can include, but are not limited to, improving heating, cooling and ventilation systems and controls, building improvements such as insulation and windows, more efficient lighting, as well as solar photovoltaic, solar hot water, biomass, or on-site wind power systems.

"Today's announcement will advance two of the Commonwealth's top priorities-education and energy efficiency. When school divisions lower their energy consumption, they can lower their energy costs and direct more resources to the classroom, all while reducing their environmental impact," Governor Kaine said. "The projects made possible by these ARRA bonds will create jobs, improve our children's learning environment, and promote green technology and construction here in the Commonwealth."

The $119 million in bonds will provide both immediate and lasting impact through energy efficiency improvements and renewable energy retrofits to existing public school buildings. New construction projects will not be eligible for these bonds.

Efficiency improvements are among the most cost effective ways to help resolve energy cost challenges. Funded projects will reduce public schools' energy demand and energy bills, reduce greenhouse gas emissions, and provide a safer and cleaner environment for Virginians. Renewable energy retrofits will also be eligible for funding-such as the installation of solar panels or small wind turbines. These improvements will also provide learning opportunities for students on energy efficiency and energy conservation.

School divisions and local governments can submit project applications through November 11, 2009 using an application now available on the Department of Education website. Project proposals will be evaluated and selected by a team of experts from the Department of Mines, Minerals and Energy, Department of Education, and Department of Treasury. Project announcements are expected by mid-December.

Governor Kaine made today's announcement at Battlefield Middle School in Spotsylvania County. Earlier this year, Governor Kaine announced the initial allocation of $71.6 million in QSCB's for eight projects in seven Virginia localities. Those previously announced bond allocations will finance K-12 school construction and renovation.

Source: Virginia Governor