Groundbreaking Ceremony at WJSHS: Superintendent announces almost $4 million in taxpayer savings for project

October 2, 2009

Members of the Watervliet City School District community celebrated the start of the next phase of the district’s ongoing building project today.

Aside from heralding the official start of construction work at the Jr.-Sr. High School, Superintendent Paul Padalino formally announced the district’s selection as one of six school districts in New York State to receive Qualified Zone Academy Bonds (QZAB) to help mitigate the local taxpayers’ share of the district’s $21.7 million project.

QZAB bonds are a relatively new financing instrument administered by the New York State Education Department through the federal government. The non-interest-bearing QZAB bonds will save the Watervliet taxpayers an estimated $3.7 million in interest payments.

“I think it is important in these tough times for us to be working to save as much money for our taxpayers as we can,” said Padalino.

Assemblyman Ron Canestrari and Mayor Mike Manning, as well as Board of Education members, School Facility Committee members, staff and students, were on hand to help the district celebrate. The high school’s own Delta Force acapella group also performed.

Assemblyman Canestrari applauded the district for its efforts to seek out the QZAB bonds. "These bonds are going to give homeowners in Watervliet real property tax relief," he said.

Mayor Manning gave kudos to district administrators. "The cooperation between the district and the city is top notch, and a project like this is not only good for our students, it is good for the city," he said. "Good schools draw people to our community, and because of this administration we have great schools."

In March 2008, the voters of the Watervliet City School District overwhelmingly approved a $21.7 million bond referendum to improve the district’s facilities. This project, coupled with the $8.6 million project currently underway at Watervliet Elementary School will provide students and community with school facilities that are up-to-date and a source of great pride. More information can be found in the construction section of our website.

Click here to view a slideshow of this morning's events.

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