Charter School Facilities Credit Enhancement Grant Program

The Charter School Facilities Credit Enhancement Grant Program, administered by the California State Treasurer’s Office, provides federal‑funded grants to charter schools to subsidize debt‑service reserve accounts for bonds used to acquire, renovate, construct, or refinance charter school facilities. By covering the reserve, the grant lowers the overall borrowing cost for eligible nonprofit or public‑agency charter schools operating in California. Funding is allocated on an “as‑needed” basis with a total pool of $8.3 million (as of 2009) and an unspecified number of awards; grants are delivered as advances and do not require matched funding or a letter of intent. • Eligible applicants: nonprofit or public‑agency charter schools in California • Eligible use: debt‑service reserves for bond financing of acquisition, renovation, construction, or refinancing of charter school facilities • Funding source: U.S. Department of Education (federal) administered by the State Treasurer’s Office • Total available funding: $8,300,000 (aggregate) • Award mechanism: advance payments; no matching funds required; no LOI required • Application: online application and full grant guidelines must be reviewed (links provided) • Timeline: grant listed as “Ongoing” with no fixed submission deadline; award announcements are ongoing.