0985 School Finance Authority
Program Descriptions

20 - CHARTER SCHOOL FACILITIES PROGRAM

Chapter 935, Statutes of 2002, as amended by Chapter 587, Statutes of 2003, created the Charter Schools Facilities Program, that provides funding for the new construction or renovation of charter school facilities. CSFA and the Office of Public School Construction jointly administer the program. The Charter School Facilities Program through the Kindergarten-University Public Education Facilities Bond Acts of 2002, 2004, and 2006, was funded $100 million in bond proceeds from Proposition 47, $300 million from Proposition 55, and $500 million from Proposition 1D. To date, 34 schools have been awarded funding through the program's first two funding rounds. For the third funding round, 92 Program applications for projects totaling over $1.5 billion have been received and are being reviewed for eligibility.

The program provides a 50% state subsidy for the charter school facilities project costs, with the balance of the project costs being repaid (to the state) by the charter school in the form of a long-term lease. Recipient charter schools must provide site-based instruction, be deemed financially sound by CSFA, and meet other program eligibility requirements.