Growing high quality charter schools

Building Charters Fund, Inc. received a $20 million Project Grant from the U.S. Department of Education's Office of Elementary and Secondary Education under the Credit Enhancement for Charter School Facilities program (CFDA 84.354), effective October 1, 2025 through September 30, 2050. The award funds the establishment of a reserve account that will be deployed to enhance the availability of debt and lease financing for charter school facility acquisition, construction, and renovation activities. By guaranteeing and insuring loans and leases, the reserve account reduces risk to lenders and expands access to credit while lowering borrowing costs for charter schools.

This award is part of a long-standing federal initiative that has made over 85 awards totaling $772.3 million since 2002 to support charter school facility development across the nation. Building Charters Fund, Inc. will manage the reserve account in accordance with generally accepted accounting principles and federal grant requirements, with the funding deployed over the 25-year grant period to support charter school infrastructure needs in the New York, NY area.