Great Funding News for the 104th

May 8, 2024
I have some great news for our district! I've been able to secure an 87% school construction reimbursement rate for Ansonia Middle School, and inclusion of the central office at the same 87% rate as well. Please note that per state statute and formula, reimbursement rate for Ansonia is typically 77.86% for renovations and 67.86% for new construction.  Further, the rate for the central office would typically be 50% of those rates.  Including both at this special, higher rate saves Ansonia taxpayers a great deal of money. 

This means Ansonia will only need to fund for 13% of construction costs should it moves forward with a new Middle School. Please note that while it is called a reimbursement rate, the city does not pay the full cost up front and become reimbursed after the fact. Instead, the project can seek reimbursement as the project progresses and can use some of these reimbursed funds for further construction. 

Example: If your project is $100m, and your reimbursement is 80%, you may choose to take out your bond for the project in the amount of $20m or $30m, and choose to submit and receive reimbursement after each $10m spent.  The city would then use the $8.7m toward the next portion of the construction. 

As always, I will keep you updated with all funding and policy changes as we get close to the end of this short session.