U.S. Department of Education: Expanding Opportunity Through Quality Charter Schools Program: Grants for Credit Enhancement for Charter School Facilities
The Credit Enhancement program provides grants to demonstrate innovative methods of helping charter schools to address the cost of acquiring, constructing, and renovating facilities by enhancing the availability of loans and bond financing. This opportunity includes one competitive preference priority and two invitational priorities.
Competitive preference priority: 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 comprehensive support and improvement or targeted support and improvement under the Every Student Succeeds Act (ESSA); (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.
- Invitational Priority 1. Applicants proposing to (1) Target services in one or more qualified opportunity zones; or (2) Partner with one or more qualified opportunity funds in financing charter school facilities. In addressing this priority, an applicant is encouraged to provide the census tract number(s) of the qualified opportunity zone(s) in which it proposes to target services and identify the qualified opportunity fund(s) with which it proposes to partner, as applicable.
- Invitational Priority 2. Projects proposing to target services in geographic areas and communities for which limited or no services have been provided under this program.
Amount: Approximately $45,000,000 is available to make up to four awards ranging from $4,000,000-$20,000,000 and averaging $12,000,000.
Eligibility: A public entity, such as a State or local governmental entity; a private, nonprofit entity; or a consortium of such entities.
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