According to Siemens Cost Management Specialist Don Kreye, the Austin Public School District, with the help of a new federally-funded program called Qualified Zone Academy Bonds, (QZAB’s), is now able to implement much-needed improvements for eight K-12 schools in the district.
Improvements and upgrades include replacing an entire 48-year-old boiler plant, improving the lighting quality, making mechanical upgrades and electric-to-gas improvements, water saving, and control. Austin community taxpayers also benefit from the energy-saving project, as they will not have to endure any tax increases.
To qualify for a QZAB, an certain number of its students must be eligible for free or reduced cost lunches under the National School Lunch Act. In addition, the school must receive written commitments from private entities to make “qualified contributions” to the school having the present value of at least 10% of the proceeds of the QZAB.
Publication date: 07/16/2001