Treasurer Godlewski and BCPL loan over $14 million to Wisconsin communities
The largest of the eleven loans approved today is to finance referendum projects for the Verona Area School District that is worth over $6 million.
MADISON—Today, the Board of Commissioners of Public Lands (BCPL) chaired by Treasurer Sarah Godlewski approved over $14 million in financing to Wisconsin communities across nine counties.
From the northernmost corners of the state, such as the town of Superior- which will be building a new fire hall with $1.8 million- to the coast of Lake Michigan in the city of Port Washington- which is financing a business development loan with $150,000- the BCPL is providing the funds necessary to support a variety of initiatives.
The largest of the eleven loans approved today is to finance referendum projects for the Verona Area School District that is worth over $6 million. Additionally, the town of Lawrence in Brown County will be financing an infrastructure project for almost $4 million.
In addition to business financing and infrastructure improvements, BCPL is also providing financing for water and sewage projects that our communities need. In the village of Brandon they will now be able to fund a park sanitary sewer relay worth $115,000, and in the village of Whiting they can install a new water service for $250,000.
“BCPL’s state trust fund loan program is the only initiative in the country that provides this type of financing for projects that serve a public purpose for any municipality or school district in our state,” said Treasurer Godlewski. She continued, “it is a top priority of mine to ensure that the investments we make through this unique fund are sound and produce the returns we need to distribute our annual funding for every single public school library across the state.”
The BCPL operates entirely on program revenue, without taxpayer money and distributes more than 96 cents of every dollar of interest earned on BCPL State Trust Fund investments to Wisconsin’s public schools. The 2019 earnings of $36.2 million are the sole source of state funding for K‑12 public school library materials.
A list of 2019 library aid received by each public school district is available at:
https://bcpl.wisconsin.gov/Shared%20Documents/Agency%20Info/Library%20Aid%20Distribution%202019.pdf
Established in 1848 by the State Constitution, the BCPL consists of Board Chair and State Treasurer Sarah Godlewski, Secretary of State Doug La Follette, and Attorney General Josh Kaul. The BCPL manages the Common School Fund, which was created in Article X of Wisconsin’s Constitution, as a permanent endowment to benefit public education.
To learn more about the agency, visit bcpl.wisconsin.gov.
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- Press Release Treasurer Godlewski and BCPL loan over $14 million to Wisconsin communities.pdf
Wisconsin Office of the State Treasurer
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
Mentioned in This Press Release
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Verona is a fairly well off community. I wonder how they measured up for $6 million?