3318-3-02 Definitions as used in this chapter.

 

 

 

3318-3-02                    Career technical school building assistance loan program.

 

 

 

(A)Pursuant to sections 3318.47 and 3318.48 of the revised code the ohio  school facilities commission may provide interest free loans to eligible districts including joint vocational school districts for the purpose of construction or renovation of an existing classroom facility or for the purchase of vocational education equipment or facilities. In each fiscal year that there are appropriations available in the loan fund the commission may award loans in amounts not to exceed five hundred thousand dollars.

 

(B)Loan applications will be made available by request through the commission offices as well at on the commission website at www.osfc.state.oh.us. Applicant districts must complete an application and submit a signed original of the form to the commission no later than december fifteenth to be considered for a loan. Applications received after the submission deadline will be considered for the next loan cycle.

 

(C)Applicant districts must meet all eligibility criteria in order to be considered for a loan. Each applicant must demonstrate:

 

(1)The financial need for the loan which may include but not be limited to:

 

(a) The current level of assessed valuation;

 

(b) Enrollment levels and changes;

 

(c) The ability of the district to maintain minimum educational standards;

 

(d)A good faith effort to secure funding for the project from sources other than the state.

 

(2)The ability to repay the loan within the maximum period established under section 3318.48 (D) of the revised code;

 

(3)That the district has not received assistance under sections 3318.01 to 3318.20, section 3318.37 or 3318.38, or sections 3318.40 to 3318.45 of the revised code and is not reasonable expected to be eligible under those sections within three fiscal years. This provision may be waived by the commission for applicants requesting a loan for the purchase of vocational education equipment not funded under those sections;

 

(4)That the proposed project will comply with all applicable commission design specifications and policies governing the construction or renovation of classroom facilities unless such specifications are waived by the commission;

 

(5)That the requested loan will not be applied to the required local resources a district must expend as a condition of participation under sections 3318.36 or 3318.46 of the revised code.

 

 

(D) The commission staff will review all eligible applications and give priority for loan approvals to applicants demonstrating:

(1) District  use  of  innovative  implementation  strategies  for  the  department  of education's vocational education modernization plan;

(2) The existence of or planned execution of a cooperative agreement with a technical college or other institution of higher education for the coordination of secondary vocational education or to share classroom facilities;

(3) The applicant's current relative wealth ranking produced by the department of education;

(4) No current outstanding loans through the program.

(E) Districts approved for a loan through the program shall enter into a project agreement with the commission defining the specific procedures and requirements for completing the project. The agreement will specify that a loan awarded for construction or renovation shall be repaid within a maximum of fifteen years. A loan awarded for the purchase of equipment shall be repaid within a maximum of five years.

Effective:	11/17/2006
R.C. 119.032 review dates:	11/07/2011
CERTIFIED ELECTRONICALLY
Certification
11/07/2006
Date
Promulgated Under:	119.03
Statutory Authority:	3318.48
Rule Amplifies:	3318.47, 3318.48, 3318.49