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:

U.S. Department of Education Program Information

Ohio Parameters

Application Form

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: 4/16/2014 4:32:52 PM