District Awarded $6.2 million OSCIM Grant

The Corvallis School Distirct has been awarded $6.2 million in state matching grant funds from the Oregon Department of Education’s Oregon School Capital Improvement Matching (OSCIM) program.

The OSCIM program was established by the 2015 Oregon Legislature through Senate Bill 477. The intent of the program is to provide matching grant funds to school districts in the hope that matching funds could help increase community support for school facility bond elections. The funds are distributed in two different ways: 60% of the grants are awarded on a “priority” basis to smaller, more rural districts with lower property value; and 40% of the grants are awarded on a “first-in-line” basis according to when applications are submitted.

Only districts that plan to have a bond measure on the ballot are allowed to apply, and a district must successfully pass its bond to collect the OSCIM grant dollars. On September 15, 2017, the district submitted the required materials to apply for funds for the May 2018 election cycle. Our district was not ranked high enough on the Priority List, nor was it selected in the lottery for the “first-in-line” funds, to receive a commitment of matching grant funds. The district was sixth in line for a $6.2 million “priority” grant and third in line for a $6.2 million “first-in-line” grant if other districts were unsuccessful in passing their bonds.

Some districts in line for OSCIM funds were unsuccessful in passing their May 2018 bonds. As a result, the Corvallis School District moved up the line and was awarded the maximum grant amount of $6,234,147. These funds will help provide a cushion both for unforeseen expenses with approved bond projects and for the potential of a less favorable market when the district sells bonds in July. A full report of net bond proceeds will be shared with the Corvallis School Board and publicized after the bond sale is completed in July.