School Revolving Renovation Fund

The Maine Department of Education's School Revolving Renovation Fund (SRRF) provides funding assistance to school administrative units (SAUs) to ensure that students have a safe, healthy and appropriate learning environment. The SRRF offers funding where SAUs have identified needs in the areas of health and safety, building systems, energy and water conservation, and learning space upgrades.

The SRRF has the following priorities: 

  • Priority 1: Health, safety and compliance issues including roof structural upgrades; improvements to indoor air quality; compliance with the Americans with Disabilities Act; hazardous material abatement or removal; 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: Repairs and improvements related to energy and water conservation
  • Priority 4: Upgrades of learning spaces
  • Priority 5: Other projects

The SRRF is funded through the Maine Municipal Bond Bank. It is a State and local partnership with each providing a portion of a project’s funding. 

The fund 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 percent to 70 percent and is based on the percentage of State subsidy paid to the local SAU. The remaining balance of the loan is paid back over either five or 10 years at a 0 percent interest rate. The loan repayments revolve back into the SRRF and are then used to fund other approved projects. The maximum loan that can be provided is capped at $2 million per priority, per school building within any five-year period. 

For additional information, see Maine DOE Rule Chapter 64, Maine School Facilities Program and School Revolving Renovation Fund.

Resources

FY 2024 application cycle. Download Word files below