Qualified Zone Academy Bonds

Program Description:	Qualified Zone Academy Bonds. Qualified Zone Academy Bonds are subsidized bonds that allow schools districts to borrow money at a zero effective interest rate. The program requires school districts to obtain a ten percent private sector matching grant.
Federal Agency:	U.S. Department of Education
Agency Website:	http://www.ed.gov/index.jhtml
National Total:	$1,400,000,000
New York State Total:	$180,040,000
Entities Eligible to Apply:	Public school districts

Flow of Funds:	Funds awarded by formula from USDOE to SED. SED will flow discretionary funds to Local Education Agencies.
Obligation Deadline:	September 30, 2011 Bonds must be used within three years after issuance
Reporting Requirements:	To be determined

State Agency:	State Education Department
State Agency Website:	www.recovery.ny.gov http://usny.nysed.gov/arra/
State Agency Technical Contact:	Carl Thurnau
Additional Information:	Use this form to request additional information.