Trenton, NJ (April 16, 2009) - The New Jersey Schools Development Authority (SDA) today released its 2008 Annual Report, reflecting on a year that resulted in $3.9 billion in new funding for the school construction program, the completion of 17 schools and the development of an accelerated-construction strategy to stimulate the state’s economy.

The SDA’s 17 completed schools, along with other rehabilitation projects, resulted in nearly 8,000 jobs saved or created, according to the report. The schools also provided more than 8,000 new seats for the children of New Jersey. Districts from Newark, which celebrated the opening of Central High School, to Camden, which marked the completion of its Early Childhood Development Center, benefited from efforts to address overcrowded, outdated and unsafe facilities.

The report is available at http://www.njsda.gov/RP/reports/2008AnnualReport.pdf.

The year 2008 was pivotal for the SDA, enabling it to embark on plans to move forward. On July 9, Governor Jon S. Corzine signed legislation authorizing $3.9 billion in new funding for the school construction program – $2.9 billion for SDA Districts and $1 billion in grants for Regular Operating Districts (RODs).

In collaboration with the Department of Education (DOE), the SDA developed its New Funding Allocation and Capital Plan (the Capital Plan), which equitably distributed the $2.9 billion allocated by the legislation among the SDA Districts, identifying 52 projects based primarily on educational need.

The funding authorization and new Capital Plan established the framework for the SDA’s action in late 2008 when, directed by the Governor to advance his Economic Recovery Plan, it moved to accelerate the repair and replacement of New Jersey schools.

In 2009, the SDA is committing $1.3 billion toward school construction projects in SDA Districts, which is estimated to save or create 11,000 jobs, the report says. The SDA expects to have 27 projects move into preliminary or full construction by year’s end.

"The SDA is committed to the goals of providing safe, efficient and affordable schools for the students of New Jersey while also mitigating the effects of the recession by creating and saving jobs," SDA CEO Kris Kolluri said. "As this report discusses, the SDA is determined to do its share to stimulate the economy while continuing to implement processes and controls to ensure taxpayer money is properly spent."

For 2009, the SDA is projecting the completion of 18 schools across New Jersey, according to the report. The total includes 13 schools in SDA Districts, three schools in RODs and two demonstration projects.

Also in 2009, the SDA will begin disbursing the first portion of the $1 billion in grant funds allocated by the legislation to RODs. In March 2009, grants totaling $180 million were announced by the Governor and DOE, with more awards to follow. Awards are contingent on either budget approval or voter approval of the local share.

Overall, New Jersey’s school construction program has completed 592 projects in SDA Districts since inception. These completed projects include 46 new schools; 41 extensive additions, renovations and/or rehabilitations; three demonstration projects and nearly 400 other projects.