|State or Federal?|
|The purpose of the Charter Schools Program (CSP): Expanding Opportunity through Quality Charter Schools Program–Grants for Credit Enhancement for Charter School Facilities (Credit Enhancement) is to award grants to eligible entities that demonstrate innovative methods of helping charter schools address the cost of acquiring, constructing, and renovating facilities by enhancing the availability of loans and bond financing.|
|Local Public Agencies, Nonprofit Organizations, State Government|
Eligible applicants are a public entity, such as a State or local governmental entity; a private, nonprofit entity; or a consortium of the previous two entities.
An eligible entity receiving a grant must use the funds deposited in the reserve account to assist one or more charter schools to access private-sector capital to accomplish one or more of the following objectives:
1. The acquisition (by purchase, lease, donation, or otherwise) of an interest (including an interest held by a third party for the benefit of a charter school) in improved or unimproved real property that is necessary to commence or continue the operation of a charter school.
2. The construction of new facilities, or the renovation, repair, or alteration of existing facilities, necessary to commence or continue the operation of a charter school.
3. The predevelopment costs required to assess sites and to commence or continue the operation of a charter school.
|Most Recent/Current Due Date|
|May 11, 2018|
|Most Recent RFP Release Date|
|Mar 21, 2018|
|Total Possible Multi-Year Award|
|# of Awards|
|Annual or Multi-Year?|
|The Credit Enhancement program intends to hold a webinar designed to provide technical assistance to interested applicants. Detailed information regarding this webinar will be provided on the Credit Enhancement web page at https://innovation.ed.gov/what-we-do/charter-schools/credit-enhancement-for-charter-school-facilities-program/|
|Department of Education, Office of Innovation and Improvement|
|Total Amount Available for All Grants|
ED has requested $500,000,000 for the CSP for FY 2018, of which an estimated $65,000,000 would be used for new awards under this competition. The actual level of funding depends on final congressional action. Contingent upon the availability of funds and the quality of applications, ED may make additional awards in subsequent years from the list of unfunded applications from this competition.
This competition includes one competitive preference priority and one invitational priority. Up to an additional 15 points will be given for the competitive preference priority, whereas the invitational priority does not give an application a competitive or absolute preference over other applications. For FY 2018 and any subsequent year in which ED makes awards from the list of unfunded applications from this competition, this priority is an invitational priority.
The competitive preference priority is: the capacity of charter schools to offer public school choice in those communities with the greatest need for this choice based on:
(1) The extent to which the applicant would target services to geographic areas in which a large proportion or number of public schools have been identified for improvement, corrective action, or restructuring under Title I of the Elementary and Secondary Education Act of 1965, as amended by the No Child Left Behind Act of 2001 (NCLB);
(2) The extent to which the applicant would target services to geographic
areas in which a large proportion of students perform below proficient on State academic assessments; and
(3) The extent to which the applicant would target services to communities
with large proportions of students from low-income families.
The invitational priority is for projects proposing the development of one or more partnerships that will enable the applicant to leverage newly created or previously untapped sources of capital or other assistance, which may include non-Federal programs, in financing charter school facilities in geographic areas and communities described in the competitive preference priority.
U.S. Department of Education
400 Maryland Ave., SW, 4W244
Washington DC 20202
Link to Further Information