School Revolving Renovation Fund

INFORMATONAL LETTER: 8

POLICY CODE: FD

TO: Superintendents of Schools

FROM: Susan A. Gendron, Commissioner

DATE: August 10, 2007

RE: School Revolving Renovation Fund

I am pleased to inform you that the School Revolving Renovation Fund (SRRF) is expected to reach a sufficient fund balance this fiscal year to allow reopening the application process to a limited extent. Due to repayments to the fund, it is anticipated that the available balance for funding non-emergency projects this fiscal year will be approximately $6 million. An additional $1.5 million in bond proceeds may also be available, subject to voter approval in November.

Because of the limited availability of funds, the Department will only accept applications which address Priority One type projects or emergency projects. Priority One type projects include health and safety repairs including indoor air quality, roof, asbestos abatement, ADA compliance and other health, safety and compliance renovations. The maximum loan amount is limited to $1,000,000 per priority per school building. Therefore, projects for schools that have previously received funding and reached the maximum allowable funding amount will not be considered.

The current application cycle will close on December 14, 2007. (Emergency applications will continue to be accepted at any time.) All Priority One projects will be reviewed and rated for need and an initial priority list for funding will be developed by the Department. The Bureau of General Services will complete technical and cost reviews of those high need projects placed on the initial priority list. The Department will then prepare a final priority list and attempt to fund as many of the top-rated eligible projects as resources will allow. It is anticipated that the final priority list will be available by February 15, 2008 and that corresponding eligibility certificates will be issued by March 1, 2008 in order that project work can be conducted during the summer of 2008.

New SRRF applications for addressing Priority One needs as well as additional information regarding updated procedures, requirements and timeline are available on the School Facilities website at http://www.maine.gov/education/const/rrf.htm. Please also refer to the Department of Education rules Chapter 64 – “Maine School Facilities Program and School Revolving Renovation Fund.”

If you have any questions, please contact Ed Antz at 624-6886 or by email at Ed.Antz@maine.gov or Ann Pinnette at 624-6885 or by email at Ann.Pinnette@maine.gov.