Lacey Schools Awarded $2.2 Million For Facilities Projects

LACEY, NJ — The Lacey Township School District was awarded $2.24 million in grant funding by the New Jersey Department of Education to address "critical facilities needs," officials announced.

The award is part of $350 million coming from the State's Debt Defeasance and Prevention Fund, which was established two years ago to help pay down existing debt and avoid incurring new debt by funding projects outright rather than incurring new borrowing. This move is expected to save the State and taxpayers roughly $350 million in total as opposed to issuing 30-year bonds at current interest rates, according to state officials.

Districts have not yet been notified of what projects were approved, but a news release said that Lacey's would cost $5.6 million in total, with $2.24 million provided by the state.

Projects requested included essential building systems upgrades like the repair or replacement of structural components, mechanical/heating and cooling, and electrical systems; building roofs; and to resolve building code issues.

"This funding demonstrates our ongoing commitment to providing safe, modern learning environments," said Angelica Allen-McMillan, acting commissioner of education. "In addition, improving the physical and safety conditions of school buildings improves working conditions for teachers and elevates the pride and support of the school community as a whole. This funding will benefit countless students in hundreds of schools throughout New Jersey."

Besides the $449.9 million in state funding, local contributions totaling $598.5 million are estimated to bring the total cost of construction to more than $1 billion. The state-funded grants represent at least 40 percent of eligible costs for projects in the Regular Operating Districts (RODs) to address health and safety issues and other critical needs.

"This funding is part of a state and local partnership that will invest in hundreds of school projects while saving a significant amount of taxpayer dollars. Coupled with an infusion of local funding, this collaboration will generate more than $1 billion in important upgrades to schools throughout New Jersey," said Gov. Phil Murphy. "Ensuring our students receive a world-class education in a first-rate learning environment while relieving the pressure on local taxpayers is a top priority of my Administration."