School board does QZAB house-cleaning
While the Warren County School District board of directors approved a motion earlier in June to allow the administration to pursue Qualified Zone Academy Bonds, also known as QZAB funding, for the renovation at Warren Area High School, the same motion was approved last Monday in a house-cleaning move.
WCSD Director of Buildings and Grounds Dr. Norbert Kennerknecht said that the first vote was held “in anticipation of summer vacation and hoping that the department would come out with requesting us (for a submission) which they did on the 23rd.”
“There is a date issue,” he explained.
The original motion was approved June 9. For the application, the vote would need to occur after the state Department of Education opened the window for applications.
Kennerknecht said the district’s commitment to the process is “not open-ended,” noting that the state “only h(as) approximately $27 million to distribute.”
“We’re anticipating using an excess of $18 million to request,” Kennerknecht said. The success “depends on how they grade the application (and) how they distribute. “We try to keep it open-ended for the district’s best benefit,” he explained.
According to the Department of Education, QZAB “allows for certain schools, known as education zone academies, to finance the renovation of school facilities on an interest-free, or nearly interest-free, basis through the allocation of tax credits.”