The program provides grants to local educational agencies to help them make urgently needed repairs and to pay for special education and construction-related technology expenses. Funds are distributed to states based on Title I LEA grant shares.
School districts apply to the State to receive funding for either purpose.
These projects will demonstrate innovative credit enhancement techniques that help charter schools meet the cost of acquiring, constructing and renovating facilities by improving access to private capital. Nonprofit agencies, public entities and consortia of the two are eligible to apply for awards to guarantee or insure debt or leases so that charter schools may obtain or improve school facilities. Award recipients will also use these funds to help charter schools identify and obtain loans and to provide assistance in issuing debt, such as recruiting bond counsel and underwriters.