Qualified Zone Academy Bonds (QZABs)

This page provides information on Qualified Zone Academy Bonds (QZABs), a federal program which allows select schools to borrow funds interest free for education purposes, except for new construction.

The Qualified Zone Academy Bond Program allows schools to borrow funds interest free for education purposes, except for new construction. Over the last ten years, Ohio was awarded over $137 million in QZAB bonding authority to fund projects at the school building level. To qualify for funding, a school must be located in an "enterprise community", "empowerment zone," or have 35% of their students eligible for free or reduced-cost lunches under the National School Lunch Act. In addition, a qualified school must have a partnership with a business that contributes at least 10% of the amount borrowed. Under the program, the school district pays the amount initially borrowed and the federal government gives the purchaser of the bonds a tax credit in lieu of interest payments.

Resources:

Allocations:

Ohio’s 2013 Allocation (to be issued by December 31, 2015): $14,611,000

Awardees
Date Location LEA County Amount
         

Ohio’s 2012 Allocation (to be issued by December 31, 2014): $14,611,000

Awardees
Date Location LEA County Amount
4/14/2014 Steubenville High Steubenville City SD Jefferson $700,000.00
4/14/2014 Harding Middle Steubenville City SD Jefferson $1,450,000.00
4/14/2014 East Elementary Steubenville City SD Jefferson $300,000.00
4/14/2014 Pugliese Elementary Steubenville City SD Jefferson $300,000.00

Ohio’s 2011 Allocation (to be issued by December 31, 2013): $15,181,000

Awardees
Date Location LEA County Amount
9/26/13 Brent Elem Finneytown Local SD Hamilton $235,000.00
9/26/13 Finneytown Secondary Campus Finneytown Local SD Hamilton $2,840,000.00
9/26/13 Whitaker Elem Finneytown Local SD Hamilton $1,625,000.00

Ohio’s 2010 Allocation (to be issued by December 31, 2012): $50,855,000

Awardees
Date Location LEA County Amount
8/31/12 Brent Elem Finneytown Local SD Hamilton $370,000.00
8/31/12 Finneytown Secondary Campus Finneytown Local SD Hamilton $1,300,000.00
8/31/12 Whitaker Elem Finneytown Local SD Hamilton $330,000.00
8/31/12 Colerain High Northwest Local SD Hamilton $2,000,000.00
8/31/12 Northwest High Northwest Local SD Hamilton $2,000,000.00

 

Last Modified: 7/11/2014 5:02:57 PM