Unlocking Opportunities: Long Island School Districts Secure Millions in Funding for Transformative Upgrades

In a significant move to bolster educational infrastructure, two Long Island school districts have been granted over million in low-interest, tax-free bonds for capital projects and improvements. This strategic investment, announced by Governor Kathy Hochul, aims to empower these districts in providing students with the tools, facilities, and resources they need to thrive academically.

Empowering Education: A Transformative Opportunity for Long Island Schools

Hempstead and East Islip Districts Secure Substantial Funding

The Hempstead and East Islip school districts were among the 69 public school districts across New York State to receive a portion of the 6.8 million in low-cost, tax-exempt bonds issued by the Dormitory Authority of the State of New York (DASNY). This funding will enable these districts to undertake a wide range of capital projects, including classroom additions and renovations, athletic field improvements, energy efficiency upgrades, safety enhancements, and technology updates to foster innovation and collaboration.Hempstead received a substantial .4 million allocation, while East Islip was approved for more than .7 million. These significant investments will provide the districts with the necessary resources to address their infrastructure needs and enhance the educational experience for their students.

Leveraging Low-Interest Bonds for Long-Term Savings

The state-backed bond program offers school districts a unique opportunity to secure funding at lower interest rates and longer repayment periods. This financial advantage translates into substantial long-term savings for the districts, freeing up resources that can be redirected towards educational programs and initiatives.Hempstead Superintendent Regina Armstrong highlighted the significance of this funding, stating, "It's a savings in term of your expenses. It will drop down your expenses and give you more money for revenue for future years. The more revenue you have could be a difference between having programs or not."The district plans to utilize the .4 million bond to support the rebuilding of the Rhodes Academy, a prekindergarten through sixth-grade school on Washington Street in Hempstead. This project, which cost the district approximately million, will now benefit from the lower interest rates and extended repayment terms offered by the state program.

Transforming Educational Landscapes Across New York

The Dormitory Authority of the State of New York (DASNY) has been instrumental in facilitating these transformative investments in school infrastructure. Since 2002, DASNY's School Districts Financing program has issued over 114 separate series of bonds on behalf of more than 350 school districts, totaling more than .8 billion.Governor Kathy Hochul emphasized the importance of these investments, stating, "Helping our students thrive means giving them the tools, the facilities, and the infrastructure they need to succeed in the classroom." This strategic funding aims to empower school districts across New York to provide their students with the necessary resources and environments to excel academically.As the Hempstead and East Islip districts embark on their respective capital projects, the impact of this funding will be felt for years to come. By modernizing their facilities, enhancing safety measures, and integrating cutting-edge technology, these districts are poised to create transformative educational experiences that will benefit generations of students.