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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 objective of the FY 2021 School Building Authority Capital Fund is to address high priority repairs, including COVID-19 related projects in communities.

All districts that completed Asset Protection Plans by June 30, 2020 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.

On November 17, 2020, the Council on Elementary and Secondary Education approved COVID-19 SBA Capital Fund awards:

Requesting COVID-19 Progress Payments

The SBA capital fund is used to repair public school facilities distributed on a priority basis to ensure that funding has the greatest impact on facility gaps in the State’s priority areas, including COVID-19 projects. Across the State, LEAs are endeavoring to make capital investments to create healthy learning environments to safely accommodate students during the COVID-19 pandemic. Funds will be used to support projects that address air filtration, ventilation, restroom improvements, and critical repairs that help facilitate best practices in social distancing. Awards are 100% state funded and provided on a pay-as-you-go basis upon receipt of an approved invoice and COVID-19 SBA Capital Fund Payment Verification Form Payment Verification Form. 

Please contact SBATechAssist@ride.ri.gov to obtain funding and submit invoices.

  

Previous SBA Capital Fund Awards

The Council on Elementary and Secondary Education has approved over $50M of School Building Authority Capital Fund projects since FY 2016.