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SBA Capital Fund

The School Building Authority Capital Fund (SBA Capital Fund) is a funding mechanism created in the FY 2016 State Budget that is designed to provide upfront funding for projects.

By doing so, Governor Raimondo and the General Assembly sought to expedite high priority projects while reducing the burden of financing costs from State and municipal budgets.

The FY 2018 State Budget allocated $80M in School Construction Aid, of which $70.9M is for housing aid and $9.1M for School Building Authority Capital Fund projects.

The objective of the FY 2018 School Building Authority Capital Fund is to address high priority projects in communities with limited financial capabilities.

Through an application process, all districts will have access to upfront progress payments funding to prioritize and expedite high priority projects with the ultimate goal of improving the health and well being of students and staff.

Applications are due September 15, 2017.

Requesting Progress Payments

Awarded LEAs can submit a processed invoice (AIA or similar document) to the School Building Authority by the 5th of each month. LEAs should send scanned invoices and a Progress Payment Request Form to SBACapitalFund@ride.ri.gov

RIDE will contact LEAs after receipt of a submission to begin the Progress Payment Request.

FY 2016 SBA Capital Fund Recap

On October 20, 2015 the Council on Elementary and Secondary Education approved 86 "shovel ready" projects to receive $19.4M of School Building Authority Capital Fund progress payments.