Andrea Kahn Opines on New School Construction Finance Law
Chalk it up to progress! New Jersey recently enacted legislation, P.L. 2023, c. 311, allowing school districts to partner with county improvement authorities to finance capital projects without needing referendums.
This groundbreaking process takes advantage of lower borrowing costs and debt service aid. This measure makes critical school upgrades and projects more affordable and accessible, particularly for those facing urgent health, safety, or educational needs.
MS&B’s Andrea Kahn recently wrote about this in the New Jersey School Boards Association’s latest publication, highlighting key considerations for districts and counties. From understanding how lease payments fit into school budgets to navigating Department of Education approval processes, her insights break down the complexities of implementing this new financing method.
If your district is looking for ways to improve its facilities while reducing costs, contact the MS&B team to learn how this law could help.