Newark Board of Education Receives Environmental, Sustainability and Governance Bond Deal Award

[December 20, 2021] - Superintendent León and members of the executive staff attended the Bond Buyer’s 20th Annual Deal of the Year Awards Ceremony on Thursday, December 16, 2021 where the Newark Board of Education was awarded the Environmental, Sustainability and Governance Award for their participation in the Energy Savings Improvement Program (ESIP). This prestigious award recognizes excellence and innovation in municipal financing by the finance community for implementing projects that advance quality of life in the nation’s municipalities using creativity and resourceful measures. These efforts are high-lighted by the District’s partnership with Johnson Controls to develop and execute a $95 million ESIP that in return will save the District $120 million over 20 years. The ESIP will modernize approximately 60 school facilities by upgrading classrooms with light, heat, space air, and technology to a state-of-the-art level. The partnership also includes a forum for raising energy awareness amongst our students, teachers, staff, and the community.

In addition, Newark Board of Education was chosen as one of the finalist in the Nation’s “Deal of the Year” Award. In accepting the award, Superintendent León shared “We are proud and deeply honored to receive the Environmental, Sustainability and Governance Bond Deal of the Year. We are privileged to be included with such an esteemed group of recipients.” He concluded his remarks with “Our bond will allow our district to make significant changes in buildings that average 98 years old. In addition, we will be able to complete several building envelope components. These projects will improve environmental conditions in our buildings, and we believe will support improving academic achievement. Any effort requires teamwork and this project is the result of work by a number of people.”

Superintendent León also acknowledged the following people in his acceptance speech: Valerie Wilson, NBOE School Business Administrator, Rodney Williams, NBOE Director of Sustainability and Energy, Robbi Accompora, Financial Advisor of Phoenix Financial Advisors, Everett Johnson, Bond Counsel of Wilentz, Goldman and Spitzer, Derek O’Neil, Bond Sales of Siebert, William Shanks and Company, Paul Napoli, Esco Partner of Johnson Controls, and members of Newark Public Schools Executive Staff and Team.

President of the Board Haynes stated, “The Newark Board of Education couldn’t be more proud of this accomplishment. This offering positions the district to address a number of structural projects that would otherwise not have been possible.”

The entire team worked tirelessly to ensure the District was able to solicit bonds for the projects, marking history with a NBOE bond offering for the first time in over thirty years. It is due to hard work and dedication that our solicitation was extremely successful. We look forward to an exemplary implementation that will benefit all of our students.