Montgomery, NJ (October
29, 2001) – Representatives of the New Jersey Economic Development
Authority, (EDA), joined by Assemblyman Christopher "Kip" Bateman , visited
Montgomery High School today to present a ceremonial check for over $15.6
million to local school officials for construction of a new high school,
and improvements to the existing high school facility. Barbara Bohi, Senior
Communications/Legislative Officer of the EDA's school division, presented
the check on behalf of the EDA.
The funding amount represents a "Section 15" grant agreement, between
the EDA and the school district. Dr. Stuart Schnur, superintendent of
schools, School Board President Linda Romano, School Board Vice-President
Bill Hyncik, Montgomery High School Principal Ann Marie Weber, and Student
Council President Bill Keitchler accepted the check on behalf of the
school district, which is in the design phase of a new high school,
and will be making renovations to the existing high school facility.
"By solidifying these grant agreements, the EDA is making good on its
responsibility to provide the state share of financing for the school
projects that will benefit children throughout New Jersey," said EDA
Executive Director Caren Franzini.
The funding will result in property tax relief for residents of Montgomery,
who otherwise would be responsible for covering the entire cost of the
high school construction project, which totals over $64.3 million. The
Department of Education deemed $39 million of the total construction
to be eligible costs. Under Section 15 of the school construction law,
the EDA is responsible for providing the State share, or 40 percent
of the approved eligible costs of construction, which amounts to $15.6
million.
Under the Educational Facilities Construction and Financing Act, the
EDA is responsible for providing grants to fund the State share of eligible
school facilities projects in school districts that receive less than
55% in state education funding, which includes Montgomery.
"The renovation and improvements for the Montgomery school district
that can be realized with this funding will result in increased opportunities
for Montgomery students in enhanced educational settings," said Assemblyman
Bateman, who represents the 16th legislative district.
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