SED recently posted the final statewide average interest rate for Building Aid. The rate, which is based on debt incurred by districts between 7/1/16 and 6/30/17, is 2.000%. This rate will be used to calculate assumed amortizations of prospective projects with a Commissioner’s approval date between 7/1/16 and 6/30/17. The rate will also be used on a preliminary basis to calculate assumed amortizations of prospective projects with a Commissioner’s approval date between 7/1/17 and 6/30/18.
Please refer to the following link for additional information: https://stateaid.nysed.gov/build/html_docs/statewideaverage_101317.htm.
