The Hope Enterprise Corporation's Charter School Facilities Fund received a $12 million Project Grant award from the U.S. Department of Education's Office of Elementary and Secondary Education on August 1, 2022. The grant is being used to provide credit enhancement initiatives that will assist charter schools in Jackson, Mississippi in leveraging private sector capital to acquire, renovate, or lease academic facilities.
Specifically, the funding will help Hope Enterprise Corporation provide credit enhancement initiatives through September 30, 2048 under the Credit Enhancement for Charter School Facilities program. This federal program aims to support charter schools through grants that leverage funds using credit enhancement to obtain private financing for facility needs. The $12 million in grant funding will allow Hope Enterprise Corporation to enhance credit and help charter schools access private capital for facilities over the 26-year period of performance.
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