After seeing a $79 million life and health safety improvements bond proposal defeated by voters last February, the Westbury School District has come up with an innovative way to fund much-needed repairs and upgrades in its aging facilities - saving taxpayers a significant amount of money.

Dr. Constance R. Clark, superintendent of Westbury Schools, announced that the district has qualified for a $28 million federally supported interest-free loan through the Qualified Zone Academy Bond program (QZAB) created by Congress and administered by the New York State Education Department. The $28 million zero-interest bond proposal is to be presented to district residents for a vote on Oct. 16. An informational meeting will be held on Sept. 16, at 7:30 p.m. at the Westbury Middle School auditorium.

QZAB is designed to help financially disadvantaged school districts save money and finance renovation and repair projects. The interest-free bond is expected to save Westbury taxpayers over $16.3 million in interest payments over the life of the loan. Under the QZAB program, the district will pay no interest on the bond and the bondholders or investors will receive a tax credit in lieu of interest which, in effect, makes the investor whole. Westbury further benefits from the QZAB program in that it requires a 10 percent collaborative contribution from the business community.

Dr. Clark announced that the district has obtained a $1 million commitment from the Spector Group, a North Hills-based architectural firm and a $3 million pledge from the National Education Foundation to meet that requirement.

In addition, the district will receive 46.5 percent New York State Building Aid on the bond, saving district taxpayers an additional $13 million over the life of the loan. With all incentives added up, Westbury taxpayers will save $29.3 million by issuing QZABs instead of traditional bonds.

"We are acutely aware of the financial sensitivities of our residents, especially those on fixed and limited incomes," said Dr. Clark. "These two incentives will help ease the economic burden for the district taxpayers and allow us to finance much-needed repairs so that our children can learn in a safe and comfortable environment."

The district has identified those areas most in need of health and safety improvements in each school, which include - but are not limited to - fire alarm and safety upgrades, electrical system improvements, classroom modernizations, bathroom renovations, compliance with federal, state and local safety codes, ventilation, heating and temperature control upgrades and roofing repairs and replacements.

"It is essential for children to have a suitable atmosphere in which to learn and grow. And even though more extensive improvements are needed, the $28 million we are asking the taxpayers for, represents those essential items that directly affect the health and safety of the students, staff and visitors to the Westbury schools," said Dr. Clark. "We will continue to look for unique ways to better the physical structure of our schools while being mindful of the wishes of the taxpayers, and we will do so without compromising the educational needs of our students."

For more information about the Westbury Schools, please visit www.westburyschools.org.