Funding Building Projects in a Tough Economy: Hidden Money Will Help You Construct and Maintain Your Buildings

The federal government last formally assessed the state of the nation's schools in the 1999 report "Condition of America's Public School," which estimated that it would take $127 billion to bring the nation's schools to "good condition." The American Society of Civil Engineers (ASCE) issued its own report card the same year. In "The Report Card for America's Infrastructure," the ASCE gave schools a D grade and estimated an even greater dollar amount ($322 billion) was needed over five years to bring schools into good condition. Funding these needs remains a huge challenge, and a policy statement ASCE adopted in 1999 has evolved and is a focus in the organization's 2011-2012 priorities. There is some uncertainty about finding funding today. However, some less well-known sources exist, such as Local School Construction Bonds and Qualified Zone Academy Bonds. Although the U.S. Department of Education plays a small and somewhat informal role in addressing the need of school facilities, there are some dedicated funding programs that may help meet facility improvement needs. There are also funding possibilities for energy efficiency and renewable energy projects on top of typical renovations and building programs.