Erik Norman P.E. Jen Brooks Engineering Manager Grant Program Manager MSAD 60 School District - School Revolving Renovation F u n d ( S R R F ) Grant Overview AGENDA Jen • Review School Revolving Renovation Fund (SRRF) Award Brooks • Financial Overview • Technical Need • Information Distribution • Questions CONGRATULATIONS ON WINNING! WINNING SRRF GRANT FUNDING PROPOSAL $1.2M Highly Competitive Process - 97 Applications - 35 Accepted - 62 Failed Shifts Burden of Facilities Upgrades from the Local Taxpayer to the State. FINANCIAL OVERVIEW $1,197,366 Total Funding Grant WINNING SRRF GRANT FUNDING PROPOSAL $1.2M - $688,126 is Forgiven (Similar to a Donation). This is 57.74% of the Total. - $509,240 is Financed @ 0% for 10 Years. This is 42.53% of the Total. Shifts Burden of Facilities Upgrade Costs from the Local Taxpayer to the State.
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