Eligible South Dakota public school districts can apply for bond authorizations used for rehabilitating public school facilities and to provide equipment, instructional materials and professional development for teachers.
The South Dakota Department of Education has indicated the state has approximately $1.8 million available in Qualified Zone Academy Bonds (QZABs). Schools may apply for bond authorization in the amount of $250,000 to $500,000.
Eligible districts must submit QZAB applications to S.D. DOE by Friday, May 12.
To apply for a Qualified Zone Academy Bond, a district must meet one of two criteria:
- A district is located in an Empowerment Zone or Enterprise Community; or
- As of the date of issuance of the bonds, there is a reasonable expectation, at least 35 percent of students attending the school or participating in the program will be eligible for free or reduced-cost lunch.
Download the Qualified Zone Academy Bond FAQ here.
In order for QZABs to help modernize school buildings and foster partnerships between schools, businesses, and communities, eligible districts are also required to:
- Cooperate with businesses to expand learning opportunities and provide students with skills needed for college and the workplace;
- Receive donations from private entities worth at least 10 percent of the value of the money borrowed. These donations can take such forms as cash, goods, services, and internships or field trips that provide educational opportunities to students.
Download the QZAB application here for possible funding for renovation and repair projects – not new construction – or for providing equipment, instructional materials or professional development.