SACRAMENTO — State Superintendent of Public Instruction Jack O'Connell today announced 21 charter schools throughout California will share $9 million in the fourth round of funding from the State Charter School Facilities Incentive Grants Program authorized under the California School Finance Authority (CSFA). O'Connell is a member of the Authority that approved the awards. For the list of grantees, please visit State Charter Schools Facilities Incentive Grant Program Grantees [http://www.treasurer.ca.gov/csfa/charter/2008/awards.pdf] (Outside Source; PDF; 28KB; 1p.)

"Starting up and running charter schools have many difficulties, but the end results are well worth the challenges because charter schools can serve as laboratories of education innovation," said O'Connell. "These grants are designed to help schools that focus on economically disadvantaged students so they will have a chance to succeed in an environment that will meet their academic needs."

CSFA was created in 1985 to finance educational facilities and provide school districts and community college districts access to working capital. Since its inception, CSFA has developed a number of school facilities financing programs and most recently is focused on assisting charter schools to meet their facility needs. CSFA administers the $49.3 million State Charter School Facilities Incentive Grants Program to assist state charter schools in meeting their facility needs. CSFA receives the funding over a five-year period from the U.S. Department of Education.

CSFA received 117 applications with total funding requests exceeding $24 million. The 21 grantees were selected on a point scale based on demonstrated need, number of low-income students, overcrowding, non-profit status, and Academic Performance Index. The funds may be used toward a charter school's cost of rent, lease, mortgage, or debt service payments for existing or new facilities; toward the purchase, design, and construction costs of acquiring land; and constructing, or renovating a facility.

For more information on these programs, please visit California School Finance Authority [http://www.treasurer.ca.gov/csfa/incentive.asp] (Outside Source).