She Wouldn't? Wrote:
-------------------------------------------------------
> They get POINTS for CLOSING a school?
>
> Each district could apply for and get up to $15
> million?
>
> Basically, exactly what the new cost is for all
> the additions they want to build in the
> southwestern part of the county?
>
> Did FCPS and Bradsher sell out Clifton to get $15
> million from the state?
>
>
>
http://www.fairfaxtimes.com/cms/story.php?id=2904
> Southwest students might see change in school
> assignments
> Plan to reassign kids to other elementaries would
> cost $15.1M
>
>
>
http://www.doe.virginia.gov/school_finance/arra/co
> mpetitive/index.shtml#construction
>
> "Application for Criteria-based Awards of CY 2009
> (Remaining) and CY 2010 Qualified School
> Construction Bonds (QSCBs) Allocation for School
> Renovation and Construction Projects
> Application Submission Deadline: November 19,
> 2010"
> Project/Application Notice: Qualified School
> Construction Bonds (QSCBs) are tax credit bonds
> authorized under the American Recovery and
> Reinvestment Act of 2009 (ARRA) for school
> construction and renovation projects. Under the
> program, issuers are eligible to receive a direct
> federal subsidy in an amount that is expected to
> offset the interest payments made on the bonds,
> resulting in zero or near zero interest cost.
> Issuers are still responsible for repayment of
> principal. QSCBs include specific eligibility
> requirements for project financing: (1) a binding
> commitment with a 3rd party to spend 10 percent of
> the proceeds must be entered into within 6 months
> of the issuance of the QSCBs and 100 percent of
> the proceeds (including earnings thereon) must be
> spent within three years of issuance. Any
> proceeds remaining at the end of the three year
> temporary period must be returned and used to
> redeem bonds and will not be available for the
> project. (2) Construction contracts must be in
> compliance with the Davis-Bacon prevailing wage
> and labor standards established by the U.S.
> Department of Labor. (3) QSCB proceeds can be
> used to pay off interim
> "financing. However, any such interim financing
> (a) cannot be a qualified tax credit bond, (b)
> must otherwise meet the requirements for
> qualifying expenditures for QSCB financing, and
> (c) must have been issued or incurred on or after
> March 18, 2010.
>
> Approximately $229.5 million in QSCB bond
> allocation is available for projects involving new
> construction (including land purchase), building
> additions, and renovations of local public school
> facilities. This QSCB allocation will be awarded
> for individual or multiple projects (subject to a
> $15 million allocation cap per division) based on
> the following selection criteria and a rank
> ordering of the associated criteria points (100
> points maximum per project): (1) a consolidation
> project that results in a net reduction of at
> least one school (25 points); (2) a project that
> eliminates student overcrowding or classroom
> trailers (20 points); (3) a project in a division
> with a composite index below 0.2500 "
> "or an unemployment rate in the locality above 10
> percent (20 points); (4) a project that replaces a
> public school facility that is more than 35 years
> old (15 points); (5) a project that includes the
> installation of a school-wide, high-speed computer
> network for use by teachers and students (10
> points); and (6) preference for a project in a
> division that has not received any prior QSCB
> funding (10 points). In addition, Governor
> McDonnell may, on a discretionary basis, award
> QSCB allocations for eligible Literary Fund
> projects, for emergency projects with significant
> health or safety issues, or for projects with
> other significant extenuating circumstances.
> Final awards of QSCB allocations will be announced
> by an Executive Order issued by Governor
> McDonnell.
>
> QSCB allocations will be provided through the
> Virginia Public School Authority (VPSA), and will
> require the issuance of general obligation bonds
> by the participating localities with a maturity
> structure consistent with the program
>
> "
> "requirements. The maturity period on QSCBs has
> ranged from 14 to 16 years as determined by the U.
> S. Treasury. Localities will be required to pay
> annual debt service payments on their local school
> bonds during this period.
>
> Project contact information and application forms
> found in the last five tabs of this file are to be
> used by localities/divisions that wish to apply
> for QSCB financing for eligible projects. A
> separate application form must be completed and
> submitted for each project for which QSCB
> financing is being requested. The deadline for
> submitting an application to the Virginia
> Department of Education is November 19, 2010.
>
> More information on the QSCB program, including
> all current application materials, is available on
> the Virginia Department of Education Web site at:
>
> "
>
http://www.doe.virginia.gov/school_finance/arra/co
> mpetitive/index.shtml
If they gained points for closing Clifton (Item #1), wouldn't they at the same time be losing points for CREATING overcrowding and implementing trailers (Item #2) OR maybe the State doesn't know that #1 is creating #2?