California Department of Education
1430 N Street
Sacramento, CA 95814
Qualified Zone Academy Bond (QZAB) offers local educational agencies (LEAs) the ability to sell tax-exempt bonds and use the revenue, essentially a loan, to form academy partnerships with for-profit business partners. The program serves all students by incorporating job-related relevance--in the form of technology, training, equipment, materials, etc.--into the classroom.
| Eligible Applicants |
Local educational agencies |
|---|---|
| Required Eligibility Criteria |
To be eligible to apply for the QZAB program, LEAs must be in a designated Empowerment Zone, Enterprise Community, or have at least 35 percent of its student population receiving free or reduced lunches. The LEA must also have an agreement with a business or industry partner that has agreed to provide at least 10 percent toward the cost of the program. Note: A third round of applications is now being accepted with an open due date. For more information, please refer to the Request for Application web site. |
| Other Eligibility Considerations |
Not applicable |
| Eligible Grade Level(s) |
K, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 |
| Eligible Age Level(s) |
Not applicable |
| Legal Authority |
Section 107 of H.R. 6111, Section 1397E of the Internal Revenue Code |
|---|---|
| Source / Type | Federal / Grant |
| State Fiscal Year | 2007-08 |
| SACS Resource/ Revenue Codes |
9010 / 8979 |
| Total Available | $65,863,108 |
| Recipient Amount |
$2,500,000 per academy |
| Match Requirement |
Yes |
| Allocation Formula | Unavailable |
| Date Application Available |
August 20, 2008 |
|---|---|
| Due Date | Unavailable |
| Expected Notification Date |
Unavailable |
| Application | http://www.cde.ca.gov/fg/fo/r13/qzabapp06rfa.asp |
|---|---|
| Background | http://www.cde.ca.gov/ls/fa/qz/ |
| Fiscal | http://www.cde.ca.gov/ls/fa/qz/qzab0607results.asp |
| Other | Authorization is for calendar years 2006 and 2007. The funding amount for 2006 is $48,404,000 and for 2007 is $48,404,000. On September 1, 2007 successful applicants from the first round were notified of their award. Second round applicants were notified on April 2, 2008 of their award. There is additional authorization remaining in the amount of $65,863,108. |
| Program | Shannon Farrell-Hart Phone : 916-323-3923 E-mail : sfarrell@cde.ca.gov |
|---|---|
| Fiscal | Shannon Farrell-Hart Phone : 916-323-3923 E-mail : sfarrell@cde.ca.gov |
| Division | School Facilities & Transportation Services Phone : 916-322-2470 Fax : 916-327-3954 |
Last Modified: September 2, 2008
California Department of Education
1430 N Street
Sacramento, CA 95814