Office of Elementary and Secondary Education (OESE): Charter School Program (CSP): Grants for Credit Enhancement for Charter School Facilities (Credit Enhancement), Assistance Listing Number 84.354A

Background
The Credit Enhancement program provides grants to eligible entities to demonstrate innovative methods of helping charter schools address the cost of acquiring, constructing, and renovating facilities by enhancing the availability of loans and bond financing.
Charter schools are public schools that serve large percentages of underserved student groups. Lack of access to adequate facilities is one of the biggest obstacles to creating and expanding charter schools as cited by charter school leaders.

Grant Details
The grant aims to provide financing to charter schools at better rates and terms than they can receive absent assistance through the program.
The project goals, objectives, and timeline should be clearly specified, measurable, and appropriate for the purpose of the program.
The project implementation plan and activities should be likely to achieve measurable objectives that further the purposes of the program.
The project should leverage private or public sector funding and increase the number and variety of charter schools assisted in meeting their facilities needs more than would be accomplished absent the program.

Eligibility Requirements
Eligible applicants include public entities, such as State or local governmental entities; private, nonprofit entities; or a consortium of entities described in (a) and (b).

Period of Performance
The project period is from the start date indicated on the grant award document until the Federal funds and earnings on those funds have been expended for the grant purposes or until financing facilitated by the grant has been retired, whichever is later.

Grant Value
$50,000,000 is estimated to be available for this grant opportunity.
The estimated range of awards is $2,000,000 to $20,000,000 with an estimated average size of awards at $11,000,000.

Place of Performance
Charter schools in States with strong charter laws are expected to benefit from this program.