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NDDPI Construction Loan Program
www.nd.gov/dpi
NDDPI Construction Loan Program
General Authority: NDCC15.1-36-01 Current Program Authority: SB2178
The 2015 Legislative Session brought several changes to NDDPI's School Construction Loan Program.
Elements that did
NOT
change
(NDCC 15.1-36)
:
Still need NDDPI project approval
Loan Eligibility amount still based off Capital Construction Loan Worksheet, which determines if district is eligible for 70%, 80%, or 90% of project cost, based on district's taxable valuation
Elements that
DID
change
(SB 2178)
:
Tax effects on proposed project must be published prior to bond vote
Bond vote for proposed project must pass
2% loans from Bank of North Dakota (BND)
Applications (
SFN 52306
) are accepted through April 1st, then prioritized based on:
Student occupancy and academic needs in the district
The age of existing structures to be replaced or remodeled
Building design proposals that are based on safety and vulnerability assessments
Community support
Cost
NDDPI prioritized list forwarded to BND
Additional application from BND required to be completed
ND Department of Public Instruction Home Page
NDDPI Construction Loan Program