The Department of Education will be accepting applications for funding of school renovation projects through the School Revolving Renovation Fund. The Department will be able to approve approximately $10 million in SRRF loans. A portion of each loan will be considered a grant and will be forgiven, and the remaining portion will be paid back over five or 10 years at zero percent interest.
For this application cycle, the Department will only accept applications for Priority One projects. Priority One projects include indoor air quality improvement, structural roof repair, hazardous material abatement or removal, ADA compliance, and other health, safety and compliance renovations. The maximum loan amount is limited to $1 million per priority per school building in any five-year period. The deadline for submitting applications is September 28, 2012.
SRRF applications and additional information are available on the School Facilities website at http://www.maine.gov/education/const/rrf/home.htm. If you have any questions, please contact Ann Pinnette at 624-6885 or by email at ann.pinnette@maine.gov.