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School Facilities Services/Transportation Team

School Revolving Renovation Fund (SRRF)

PROGRAM: The SRRF was created by Maine Legislative action in 1998.  It represents the realization of a joint vision of the Legislature, the Governor, the State Board of Education, and the Department of Education to address critical needs of Maine’s school facilities.  The SRRF is administered by the Department of Education and is funded through the Maine Municipal Bond Bank.  The Maine Department of Administrative and Financial Services, Bureau of General Services (BGS) provides the engineering expertise and technical reviews for SRRF applications.

The SRRF was established in order to provide funding assistance to School Administrative Units (SAUs) to ensure that Maine school students have a safe, healthy, and appropriate learning environment.  The SRRF provides assistance where SAUs have identified needs in the areas of health and safety, building systems, and learning space upgrades and small-scale capital improvements.  The SRRF, the Major Capital Improvement Program, the Leased Space Program and the Federal Qualified Zone Academy Bond Program are the programs available to address facility needs for Maine students.  In addition, the SRRF promotes a greater understanding of school facilities conditions, improves local stewardship, and provides more comprehensive solutions to identified needs.

The SRRF is a State and local partnership with each providing a portion of a project’s funding.  The SRRF provides loans to SAUs to finance project expenditures.   A portion of each loan is considered a grant and is forgiven.  The forgiveness rate ranges from 30% to 70% and is based on the percentage of State subsidy paid to the local school unit. The remaining balance of the loan is paid back over either five or ten years at a zero percent interest rate.  The loan repayments revolve back into the SRRF and are then used to fund other approved projects.

As established, the Fund has three Priorities:

Priority 1:  Health, safety and compliance issues including roof upgrades, improvements to indoor air quality, compliance with the Americans with Disabilities Act, asbestos mitigation, and other health, safety and compliance issues;

Priority 2:  Repairs and improvements not related to health, safety and compliance limited to repairs and improvements to school building structures, windows, doors, and water supply or waste disposal systems.

Priority 3:  Upgrades of learning spaces and small-scale capital improvements.

The maximum loan that can be provided is capped at $1 million per priority per school building.   The maximum total loans from the SRRF for a school will be $3 million, which includes Priority 1, Priority 2, and Priority 3 projects.

 

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FY 2008 Application Ratings and Approved Funding Amounts (3/3/2008)

MS Excel Format (.xls)

Adobe Acrobat Format (.pdf)

  • Projects with multiple components received separate ratings for each component. Therefore, the same project number may appear more than once on this list.
  • Projects rating 54.5 and higher will be issued eligiblity certificates.

 

Informational Letter #8 - School Revolving Renovation Fund - August 10, 2007

  • Timeline for FY 2008 Application Cycle
MS Word Format (.doc)
  • Important Information for Applicants and the SRRF Process
MS Word Format (.doc)

Rules Chapter 64:  Maine School Facilities Program and School Revolving Renovation Fund

 

APPLICATION MATERIALS
SELECT FORMAT BELOW

FY 2008 Application

MS Word Format (.doc)

Adobe Acrobat format (.pdf)

Appendix A - Project Budget

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Adobe Acrobat format (.pdf)

Appendix B - Required Supporting Documentation

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Appendix C - Sample School Board Approval

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