2024 Credit Enhancement

The State Treasurer’s Office is offering the 2024 Credit Enhancement Grant to eligible nonprofit and public‑agency entities that can help California charter schools improve access to financing for acquiring, constructing, or renovating school facilities. The grant funds up to $20 million (originating from a federal credit‑enhancement program) and is intended to subsidize debt‑service reserve accounts on bond issuances, thereby lowering borrowing costs for charter schools. Applicants must submit an online application and follow the full grant guidelines; no letter of intent or matched funding is required. • Eligible applicants: nonprofit organizations and public agencies. • Eligible geography: charter schools operating anywhere in California. • Funding source: U.S. Department of Education Credit Enhancement program (ALN 84.354A) with a total pool of $20 M. • Funding method: advance payments; funds released as needed and must be returned if unused after six months of Authority approval. • No specific deadline posted – the opportunity is listed as “ongoing.” • Grants will be awarded on an as‑needed basis; number and size of awards are “Dependent.” • Purpose: reduce charter schools’ borrowing costs by covering debt‑service reserve accounts on bond transactions. • Application materials: grant guidelines and an online application PDF (links provided). • Contact for questions: Katrina Johantgen, (213) 620‑4608, [email protected].