Schools Construction Corporation
The SCC was created on July 18, 2000 when the New Jersey Educational Facilities Construction and Financing Act was signed into law. The law created a program for financing, design, renovation, repair and new construction of primary and secondary schools in New Jersey. The law significantly changed the level of State aid for public school construction. Previously, school districts received State aid for construction debt at the same percentage as their State aid for operating costs, making almost half of the State's school districts ineligible for any construction aid. The new law guaranteed construction aid for every school district in New Jersey. The minimum level of aid was 40%, and Abbott Districts received 100% of eligible costs. Cost overruns and charges of corruption led to criticism of the SCC. Delays and added costs led to unfinished buildings and the lack of funds to complete existing and planned projects.
Read more about this topic: New Jersey Schools Development Authority
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