Dear Florence County Parents/Guardians, Residents and Business Partners:
The School District of Florence County Board of Education is pursuing an opportunity to finance a portion of the taxpayer approved capital referendum via an interest free loan opportunity known as QZAB (Qualified Zone Academy Bond). Each year the federal government allocates several million dollars to each state for utilization by public schools, interest free, typically for facility renovation. Any amount we will qualify for will save thousands in interest paid for debt issuance. Our realistic goal is to receive at least $1 million in interest free debt, but hopefully more. At $1 million dollars interest free, taxpayers would likely see interest saving of nearly $400,000 over the course of the 20 year amortization schedule.
The “catch” to this application, is that there must be a 10% match to the amount the District applies for. This match can be financial, or what is likely to be more realistic, is “in-kind” which is simply a donation of any good or service other than cash. The best example is volunteerism in any capacity to the school district. If you are involved in PTO, volunteer in classroom support or in any other way, we can count those hours towards the 10% match requirement by assigning a realistic hourly rate to your time of commitment. Volunteer hours by employees of the school district cannot be counted toward the 10% match.
We can count any foreseeable contributions from November 15, 2016 forward for five (5) years.
The only requirement on your end would be to date, sign and commit to the hours you would likely volunteer each year over the next five (5) years. If you only desire to commit to hours you know for sure that you will do if even for the remainder of this year, we would greatly appreciate your consideration and submission to count hours towards the 10% match.
If you would like to know more of the program, you can visit www.qzab.org. Or, please feel free to reach out to me at my email, firstname.lastname@example.org
The form to fill out for our records can be found here.
Please return your signed commitment to my email, any school office or directly mail to:
PO Box 440
Florence, WI 54121
Thank you for your consideration.