0985 School Finance Authority
0925 - STATE CHARTER SCHOOL FACILITIES INCENTIVE GRANTS PROGRAM
In 2004, CSFA was awarded a grant under the United States Department of Education's State Charter School Facilities Incentive Grants Program (CFDA 84.282D) to provide California charter schools with assistance for facilities costs. Grant funds are used toward a charter school's cost of rent, lease, mortgage or debt service payments for existing or new facilities or toward the costs of acquiring land and constructing or renovating a facility. Grants are awarded to charter schools based on preference points allotted for the percentage of low-income students; percentage overcrowded; not-for-profit status; and demonstrated student performance.
CSFA implemented a program change in regulations to award preference points for charter schools providing better educational opportunities than surrounding traditional public schools. First time recipients are also given preference as compared to past recipients.
CHARTER SCHOOL FACILITIES CREDIT ENHANCEMENT GRANT PROGRAM
In 2010, CSFA was awarded a grant of $8.3 million by the Charter School Facilities Credit Enhancement Grant Program (CFDA 84.354A) authorized under Title V, Part B, Subpart 2 of the Elementary and Secondary Education Act, to enhance credit for charter schools and enable them to access non-federal funds that will address the costs of renovating, acquiring, and constructing school facilities. The grant funds will act as a reserve against any shortfalls in debt service on bonds that are issued by CSFA.