VDOE announces 230 million in interest-free bonds to 33 school divisions
The Virginia Department of Education has announced almost 230 million dollars in school construction bonds for 33 localities in the state, where school construction and repairs are badly needed.
It means, in the tightest of times, money will be available where it is most needed.
Pyle: When you look out in Blacksburg, where a year ago, the roof of a high school collapsed and that school's been closed since.
Charles Pyle, Department of Education.
Pyle: This will allow a replacement for that school to move forward.
Richmond’s Martin Luther King Jr. Middle School will get 7.5 million in bonds, plus another 15 million, a special grant for school districts that have the largest number of school-age children in poverty.
Pyle: A school that's to be a state-of-the-art facility for 800 students with updated technology throughout.
The principal of the Qualified School Construction bonds will have to be paid back, but school divisions will receive direct federal subsidies to offset interest payments. Thirty-three localities will get the money to help with repairs, construction and modernization long overdue.
Pyle: A number of worthy projects to move forward sooner rather than later.
Charles Fishburne, WCVE News