$187K In State Funds Earmarked For Parsippany School Projects

PARSIPPANY, NJ — A new wave of state funding will enable hundreds of schools to make crucial infrastructure upgrades that can help keep kids in the classroom – and some of it is coming to Parsippany.

On Thursday, the New Jersey Department of Education (NJDOE) and the New Jersey Schools Development Authority (SDA) announced the approval of roughly $450 million in construction funds to address critical facility needs in 261 school districts throughout the state.

For the Parsippany-Troy Hills School District, the state will pay $187,270, which will be put towards a $468,176 estimated project cost, state officials said. See how much funding other schools in Morris County are slated to get below.

According to officials, the improvements were "identified by needs" and included major building renovations, boiler replacement, HVAC and electrical system replacement, and roof repairs. The cash will also assist some districts in resolving building code violations.

Funding for the school construction initiative was made possible through legislation signed in 2022 and grant funding from SDA allocations.

Here are some of the other districts in Morris County getting money for necessary projects, according to the state:

• Morris Plains
  • Estimated project cost: $3,426,180
  • State share: $1,370,472
• Morris School District
  • Estimated project cost: $8,441,650
  • State share: $3,376,660
• Madison
  • Estimated project cost: $1,149,550
  • State share: $459,820
• Mendham
  • Estimated project cost: $1,203,750
  • State share: $481,500
• Mendham Township
  • Estimated project cost: $1,979,459
  • State share: $791,784

• Mount Olive Township
  • Estimated project cost: $3,334,000
  • State share: $1,333,600
• Mountain Lakes
  • Estimated project cost: $2,260,500
  • State share: $904,200
• Chester Township
  • Estimated project cost: $4,009,487
  • State share: $1,603,795
• Dover Town
  • Estimated project cost: $3,997,500
  • State share: $2,836,626
• Florham Park
  • Estimated project cost: $4,744,881
  • State share: $1,897,952

• Pequannock Township
  • Estimated project cost: $2,905,500
  • State share: $1,162,200

According to state authorities, $350 million of the $450 million will come from the state's Debt Defeasance and Prevention Fund, which was formed two years ago to assist in paying down existing debt and avoid accruing new debt by funding projects outright rather than incurring new borrowing.

“This move is expected to save the state and taxpayers roughly $350 million in total as opposed to issuing 30-year bonds at current interest rates,” officials said in a news release.

In addition to the $449.9 million in state funding, local contributions totaling $598.5 million are estimated to bring the total cost of construction to more than $1 billion.

“This funding is part of a state and local partnership that will invest in hundreds of school projects while saving a significant amount of taxpayer dollars,” Gov. Phil Murphy said.

This article contains reporting from Patch's Eric Kiefer.