Governor Cuomo announced Friday (August 23) the distribution of more than $482M in low-cost, tax-exempt bonds to 54 school districts across the state, including $650K on the way to Homer Central School District.
These special bonds are part of the Dormitory Authority of New York State’s (DASNY) School Districts Revenue Bond Financing Program, which provides public school districts with an efficient financing alternative.
They’re typically used on projects including, but not limited to: fire, security, and air quality systems upgrades; interior and exterior renovations at numerous facilities including several classroom additions; athletic field improvements; and technology updates to promote innovation and collaboration.
“The classrooms, technology and recreational facilities our students use every day are integral to their educational experience,” Governor Cuomo said. “By modernizing critical educational infrastructure and hardware, we are building strong foundations for the next generation of leaders to learn and innovate and set them on the path to success.”
Since the program started in 2002, DASNY has issued 100 separate series of bonds on behalf of more than 200 school districts statewide in an aggregate par amount of more than $6.1 billion.
“We are committed to investing in our schools to ensure high-quality learning environments,” said Lieutenant Governor Kathy Hochul. “This funding for capital projects for schools statewide will support improvements and help students thrive in the classroom. We want to make sure that all students in districts across the state have access to the programs and resources they need to succeed now and in the future.”